Avoid Carbon-market Oriented Stocks if Copenhagen Talks Fail say Brokers
Saturday, 20 Dec, 2009
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Investors should avoid carbon market-oriented stocks if there is a failure of talks at the UN climate change meet in Copenhagen as protectionism would rise and lead to discord between developed and underdeveloped nations, according to Simon Webber, manager of the Schroder Global Climate Change fund.
‘Protectionism will rise, and regions such as the EU which are committed to climate change mitigation will have to begin accepting that more investments will have to be focussed on adaptation to the inevitable disruptive climate change ahead. The more vulnerable developing countries will begin to consider their options, and the whole issue will probably begin to infect other global negotiations such as trade talks and security cooperation over time,’ Webber said.
But as plans were already in place to drive growth in low carbon technologies for the next three to five years, he said this would matter little in the short-term.
‘If talks break down, avoid carbon market oriented stocks where uncertainty will be greatest, and stick to more basic and affordable low carbon technologies such as energy efficient materials and fuel efficient engines, along with wind and nuclear power generation,’ the SRI fund manager said.
He admitted that it was still too early to take a call on what the final outcome of negotiations would be, but only that they were struggling.
‘A full breakdown would mean that successful mitigation of climate change becomes much less likely, and more thought must be given to protecting societies from the consequences of climate change,‘ he said.
Recently Schroders’ chief investment officer Alan Brown said that climate change presented an opportunity in the shape of it being the first ‘predictable industrial revolution’ in history.
Valere Tjolle
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