Financial Times And Bloomberg: The Financial Industry Has $1 Trillion At Risk In The Face Of Climate Change
Feb 21, 2020
The Financial Times and Bloomberg covered our report titled Climate Change: Three Imperatives For Financial Services.
It shows that the financial industry could lose up to $1 trillion in the event of major policy shifts that aim to slow climate change, such as levying a carbon tax. However, banks, insurers and asset managers have the opportunity to reduce these risks and increase their earnings potential by reallocating capital to greener companies and investments.
The Financial Times highlighted that although it is early days for banks embracing climate risk, there is evidence this is already happening in some sectors.
Bloomberg argued that while scientists have warned of a warming planet for decades, only now is climate change rising up the agenda of the finance industry.
Read the full report here.