Time to see climate change mitigation as an economic opportunity, Sabia says
HALIFAX — One of Canada’s largest pension fund managers says trillions of dollars should be shifted into investments that will counter global warming, in part because it’s crucial to long-term profits.
Michael Sabia, chief executive of the Caisse de Depot et Placements, spoke Tuesday at a roundtable discussion on sustainable finance on the eve of a three-day meeting of G7 environment, oceans and energy ministers in Halifax.
The G7 ministers will be discussing climate change, plastics pollution, illegal fishing and clean energy at the meeting.
Sabia said government action is urgently needed, but he also urged capitalists to stop seeing climate change solely as a risk, and to “get on with” seeking profits from the need for more renewable energy, low-energy real estate and low-carbon transport systems.