Rich investors are committing larger sums to climate technology, attracted by the financial returns as much as the social impact according to a leading wealth manager.
Entrepreneurs, families and foundations have shifted from divesting fossil fuels-related stocks to actively selecting green technologies that are proving commercially successful, John Derrick, a senior executive at JP Morgan Private Bank in the UK, said.
“Climate has gone away from being a narrow definition of ‘I will only invest in green companies’ into being ‘I am going to make money out of the transition that needs to happen to green the world’,” Derrick said.
“The economic incentive is as strong as the impact. The alignment between the economic impact and the social impact has brought things to the mainstream.”
