Kerry: Fiduciary Responsibility of Money Managers 'Not to Lose' Money Is Hurting Climate Transition Investment

On Monday's broadcast of MSNBC's "Ana Cabrera Reports," Special Presidential Envoy for Climate John Kerry stated that green transition investment has been undercut by the fact that money managers "have a fiduciary responsibility, an obligation to the people they manage it for not to lose the money, but to produce returns on that investment." And the fact that pension funds "are very careful about those investments in order to make certain they have the money to pay out to the pensioners who work for that money all their lives." Kerry also said that he has urged those who manage large amounts of money that they have "got to help us create the structure" to spend on climate.