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Edition: U.S. Article Comments (0) Email Print Reprints Read Euro zone worries pressure Wall St 10:11am EST Analysis: WikiLeaks stirs debate on info revolution 10:50am EST China's Hu tells Obama Korea tension could go out of control | 10:10am EST WikiLeaks lists sites U.S. says vital to interests 10:04am EST Exclusive: AOL mulls breakup, then merger with Yahoo 10:39am EST Discussed 70 Obama, Republicans in tax face-off at White House 59 Senate bid to renew ”middle-class” tax cuts fails 55 WikiLeaks plans to release a U.S. bank’s documents Watched Bejeweled bra exposed in NY Thu, Oct 21 2010 Playboy opens Mexican casino Sun, Dec 5 2010 Row over vote orgasm video Fri, Nov 19 2010 Green Business Google technology to aid forest efforts Google's new platform, Google Earth Engine, takes vast amounts of forest images from satellites and crunches it, allowing scientists to monitor forests from their own computers in minutes or seconds instead of the hours or days it took before. Full Article Special Report: Making forests pay in a warming world More Green Business news Climate talks must heed business, set binding caps Tweet This Share on LinkedIn Share on Facebook By Gerard Wynn CANCUN, Mexico (Reuters) - U.N. climate talks must heed investor demands for binding cuts in greenhouse gases to cement the financial returns that will support low-carbon energy, said the co-head of green investment at a $45 billion... Factbox Factbox: U.N. talks try to define rich, poor climate effort Thu, Dec 2 2010 Related News Farming must wait in line at stalled climate talks Sat, Dec 4 2010 U.S., poor nations criticize new U.N. climate text Sat, Dec 4 2010 U.N. body seeks delay to CO2 market appeals: report Fri, Dec 3 2010 Venezuela says told no emissions deal in Cancun Fri, Dec 3 2010 Analysis & Opinion What we should be taxing: greenhouse gases Why we should still be constructive about Cancun Related Topics World » COP16 » Green Business » A bus with a picture promoting the use of biodiesel, transport delegates attending the U.N. Climate Change Conference COP16 in Cancun December 5, 2010. Credit: Reuters/Jorge Silva By Gerard Wynn CANCUN, Mexico | Mon Dec 6, 2010 10:32am EST CANCUN, Mexico (Reuters) - U.N. climate talks must heed investor demands for binding cuts in greenhouse gases to cement the financial returns that will support low-carbon energy, said the co-head of green investment at a $45 billion British pension fund. Two weeks of international talks in the Mexican beach resort of Cancun are unlikely to produce a firm decision on emissions targets for developed countries after 2012, when the present round of the Kyoto Protocol ends. One way governments could implement such targets is through carbon taxes or cap and trade schemes, which impose a cost on carbon emissions from burning fossil fuels. Investors say that would tilt the balance in favor of clean energy. "Having an effective global cost of carbon will drive these markets," said David Russell, co-head of responsible investment at Britain's Universities Superannuation Scheme (USS). Investors are hoping for progress at the next meeting in South Africa at the end of 2011 and complain that governments pay insufficient attention to them in the U.N. process. "It's about setting a binding target, which won't happen at this conference, hopefully at the next, with a continuation of the Kyoto process which includes cap and trade globally. It isn't going to happen in the short term," Russell told Reuters at a business event near the talks that run through December 10. A European Union cap and trade scheme is the hub of carbon trading globally but prospects for a U.S. market have dimmed significantly with a swing to the Republicans in November's congressional elections. The U.N. climate talks barely engage business directly, convening government delegates from nearly 200 countries. Business and other observer groups meet on the fringes. "The current process is set up so that it's a policymaker to policymaker discussion with very little input either from the business or investment community," said Russell. "As providers of capital we have our own requirements on what we need from policy. It's critical we get those points across, and that we are heard." Business leaders and investors last month delivered their fourth communique in three years ahead of the Cancun talks. The Institutional Investors Group on Climate Change, whose members manage about 5 trillion euros ($6.63 billion) in assets, and other investor groups have delivered similar statements calling for a global climate deal at previous U.N. conferences. Russell, whose USS pension fund devotes nearly 1 percent of its 29 billion pounds in assets to low-carbon technologies including renewable energy, said governments must be more direct about supporting clean technologies. "If allocations are ever to get to the levels that we hear are required, the incentives need to be more explicit, the policy stability needs to be there," he said. "And, for investment in emerging markets, some of the risk has to be mitigated." (Reporting by Gerard Wynn; Editing by John O'Callaghan) World COP16 Green Business We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Reader Feedback Mobile Newsletters RSS Podcasts Widgets Your View Analyst Research Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Reuters on Facebook Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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