Tuesday, April 05, 2016

Climate change 'could wipe $2.5tn off' global assets

Trillions of dollars of non-bank financial assets around the world are vulnerable to the effects of global warming, according to a study that says tougher action to curb greenhouse gas emissions makes sense for investors.

Climate change could wipe $2.5 trillion off global financial assets, the study released on Monday said, adding that in the worst case scenario $24 trillion worth of assets might be damaged.

Rising temperatures and the dislocation caused by related droughts, floods and heatwaves will slow global economic growth and damage the performance of stocks and bonds, according to the report, led by the London School of Economics.

"It makes financial sense to a risk-neutral investor to cut emissions, and even more so to the risk-averse," lead author Professor Simon Dietz, an environmental economist, told Reuters news agency.......http://www.aljazeera.com/news/2016/04/climate-change-wipe-25tn-global-assets-160404181639546.html

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