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Environmental Finance誌 『リオ+20がもたらす投資機会』

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Rio+20 to bring investment opportunities – Citigroup
http://www.environmental-finance.com/news/view/2452

26 April 2012

he Rio+20 sustainability conference is likely to generate opportunities for investors because of an increasing focus on sustainability and public scrutiny on climate policies, according to Citigroup.

In June, the UN Conference on Sustainable Development will be held in Rio de Janeiro, 20 years after the original Earth Summit, where countries will discuss how to create a ‘green’ economy that can sustain a rapidly growing population.

The conference will lead to a higher public scrutiny of how countries progress with climate-related issues and more “green sentiment” in the markets than normal, said sustainable investment analysts at Citigroup.

Politicians may be incentivised to strengthen national climate policies because of peer pressure and the widespread media coverage of the event.

“For example, the low price of carbon dioxide [CO2] emissions permits in Europe will be a major embarrassment that politicians will seek to correct, providing stimulus to the CO2 market and low-carbon investments dependent on it,” said the analysts in a research note published this week.

Also, renewable energy stocks could rise in value because of climate change being a hot topic on the markets and in the media.

Solar companies in particular, which depend on international collaboration and government support, could benefit from climate change being increasingly on the global agenda, they said. However, “any gains should be viewed with scepticism” if they are not followed by specific national policies supporting the sector.

Citigroup also highlights sustainability reporting as a key topic that will boost engagement between companies, governments and campaign groups at the conference. The report says that best practices for listed companies internationally could be agreed, which would make it easier for investors to evaluate climate change opportunities and risks when investing.

The ‘zero draft’ of the Rio+20 agreement includes a call for “a global policy framework requiring all listed and large private companies to consider sustainability issues and to integrate sustainability information within the reporting cycle”. However, this wording has been weakened in other, more recent draft texts.

Elza Holmstedt Pell