Institutional investors can have "a decisive impact" on future greenhouse gas emissions and the environmental performance of major companies, Secretary-General Kofi Annan told the Institutional Investors Summit on Climate Risk which was held at UN Headquarters today. He said that global warming could have serious consequences for businesses and investor budgets - and not just for the environment itself - unless the world "mounts a sufficient response". The Summit's attendees included Al Gore, former Vice President of the United States, institutional investors who represent more than $1 trillion of assets, senior Wall Street fund managers, academics, and state treasurers and comptrollers from across the United States. The event was supported by the Global Compact, a UN initiative launched in 2000 with some of the world's biggest corporations. The Compact calls on all companies, large and small, to uphold principles on the environment and the protection of workers and human rights.