COP28 Adviser Ubben Says Climate Summits Have Been `Divisive - Bloomberg
COP28 Adviser Ubben Says Climate Summits Have Been `Divisive' - Bloomberg
Hedge Fund Veteran Slams Green ‘Echo Chamber’ After Closing Firm
- Veteran hedge fund manager is returning money to clients
- Ubben says climate talks have historically been ‘so divisive’
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Jeff Ubben, the veteran hedge fund manager who’s just closed his sustainable investing firm, is calling out what he’s dubbed the “echo chamber” of traditional climate summitry.
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Hedge Fund Veteran Slams Green ‘Echo Chamber’ After Closing Firm
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”