· Partnership confirms Abu Dhabi event’s significance to global investors
· DB Climate Change Advisors to demonstrate growing greenhouse gas levels with live Carbon Counter screens on display at exhibition
· Carbon Counter shows atmospheric greenhouse gases increasing by 800 metric tons per second
Abu Dhabi, [WorldofRenewables.com]
DB Climate Change Advisors, the climate change investment and research business of Deutsche Asset Management, has been confirmed as Principal Sponsor for the World Future Energy Summit 2011, taking place in Abu Dhabi from 17-20 January 2011. The agreement demonstrates the Abu Dhabi event’s significance to global investors in climate change solutions
Deutsche Asset Management has identified climate change as one of the mega-trends that will drive the global asset management business for the next generation and beyond. With more than $6bn of assets under management in this sector, it is one of the world’s largest climate change investors. The firm has also developed the world’s first real-time Carbon Counter in New York City that calculates the current atmospheric concentrations of greenhouse gases to monitor how quickly these concentrations are increasing, which will be on display at WFES 2011.
Visitors to WFES 2011 will be able to see the Carbon Counter on live screens throughout the four day exhibition in Abu Dhabi, as it displays the running total amount of long-lived greenhouse gases (GHGs) in the earth’s atmosphere, measured in metric tons. At its launch on June 18, 2009, long-lived GHGs in the atmosphere were estimated to be 3.64 trillion metric tons, and have since been rising at about 2 billion metric tons per month, which equates to 800 metric tons per second on the sign.
Kevin Parker, a member of the Group Executive Committee of Deutsche Bank, as well as being Global Head of Deutsche Asset Management said: “It is clear that climate change affects us all, that it requires us to act quickly to contain potential risks from global warming and adapt in ways that are consistent with economic growth. It will require collective effort on a global scale – taking bold public policy decisions, changing the way we do business and modifying the routines of our daily lives. Our sponsorship of WFES 2011 further demonstrates our commitment to remaining at the forefront of the global reallocation of capital towards industries that mitigate or adapt to climate change. As in previous years, we look forward to taking part in this prestigious event on the energy industry calendar”.