The 2nd edition of this multi-contributor book – edited by Will Oulton, Global Head of RI, First State Investments – has been extensively updated since the first edition to reflect the rapid rate of change in technology, investment incentives and regulations.
A lot has happened since the first edition of this book was published in 2009. Most notably, much of the world has experienced a sharp recession and the international climate change talks have failed to agree on what will succeed the Kyoto Protocol.
But, as the world recovers from the worst financial crisis since World War II, many countries are taking the opportunity to restructure their economies with a view to ensuring sustainable growth. And, although a global agreement on climate action beyond 2012 remains elusive, the EU's pioneering Emissions Trading System is poised for further expansion, carbon markets are being introduced in Australia and California and are planned for China, Korea and several Latin American countries.
Meanwhile, renewable energy capacity continues to increase dramatically as the cost of the technology falls and evidence mounts that climate change is accelerating.
There is also growing recognition that budget constraints on many governments mean that private capital will have a critical role to play in funding the transition to a low-carbon economy. A growing number of investors see exciting opportunities in this sector but others remain wary of the risks – whether political, technological or financial – or unconvinced of the business case.
This second edition of Investment Opportunities for a Low-Carbon World is helpfully divided into three sections. The first examines the major technologies involved in delivering clean energy and energy efficiency improvements, including a review of their current role and their future potential. The second outlines the various investment vehicles that investors can use to gain exposure to low-carbon assets – from bonds to exchange-traded funds. And the third covers the regulatory framework – a major factor in both the risks and the opportunities of investing in this space.
Contributing organisations include: PGGM, Bank Sarasin, Tiptree Investments, Mercer, Impax Asset Management, Friends Provident, ICE Futures Europe, Herbert Smith, Universities Superannuation Scheme, Trucost, Nissan Motor Company, FTSE Group, HSBC, Zouk Capital, Deutsche Bank, BP, Chatham House
The editor, Will Oulton, is Global Head of Responsible Investment for First State Investments. He was previously Director of Responsible Investment at FTSE Group, where he led the development of FTSE's global sustainability indices and services, including the leading SRI index series FTSE4Good.
Investment Opportunities for a Low-Carbon World retails for £49.50. For more information and to order your copy, please contact firstname.lastname@example.org.