Just a few weeks ago, a few of us from Ultra Capital walked into a major city pension fund to discuss investing in sustainable real assets and infrastructure. The waiting area was devoid of any magazines or financial books but instead had one book on the coffee table: The Last Polar Bear. I quickly opened the book and read the paragraph on the side cover:
“The effects of global warming are distilled in the delicate balance of the Arctic ecosystems, and the continued survival of the charismatic white gear is uncertain. The Last Polar Bear places the reality of climate change and the fate of the polar bear in our hands. Its plight is a wake-up call: we must act now to stem the tide of climate change while there is still time and space for hope.”
We were delighted. Here, in this one city pension plan, their investment team is taking notice and wanted to invest not only good financial products but also those that try to do the right thing.