Investors representing staggering sums of money gathered at the headquarters of United Nations to hear a day of discussions on climate risk and energy solutions this week.

The packed room included bankers, pension fund executives, policy-makers and the usual crowd of climate change professionals largely made up of consultants that cycle in and out of public and private organizations wearing different hats but often propounding the same message. Their message is one that seemed welcome in the last decade – that markets could be harnessed to solve climate change problems, that a price on carbon emissions would be good not just for health but for businesses currently facing (in the oft-quoted Nicholas Stern phrase) “a result of the greatest market failure the world has seen.” Keep reading →