Carbon finance experts told firms with high-carbon emissions must be re-evaluated by stock markets.
Photo: World News
This article titled “Climate change not factored into companies' value, warns UN chief” was written by Fiona Harvey, environment correspondent, for The Guardian on Monday 10th October 2011 19.00 UTC
Companies around the world are being valued incorrectly by world stock markets, because the cost of their exposure to climate change is not being factored in, the United Nations' climate chief has warned.
“As long as these companies [that emit large quantities of greenhouse gases] have a high value, we are giving out the wrong signals,” said Christiana Figueres, executive secretary of the UN framework convention on climate change, told an audience of carbon finance specialists in London. “It has got to be that those companies that are investing in the technologies of the future are recognised.”