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Financial Sector Responding To Climate Change - Impatient With Pace Of Political Progress
At a meeting here today, senior executives from leading financial companies told government officials gathered in Bonn for the climate change negotiations that key business sectors, facing both liabilities and opportunities associated with global warming, will see a new investment dynamic emerge. The bankers and insurers predicted that capital will shift from "carbon fuels toward renewable energy, efficiency programmes, and advanced public transit systems."