This paper is the first of a five-part series on the risk and opportunities of climate change.
Climate change is here
Climate change is causing a wide range of physical impacts with serious implications for investors and businesses. While weather variability and extremes have always existed, satellite and other observations show that temperatures are increasing which is causing extreme weather events to become more frequent and intense. These changes mean that the past is no longer a good guide to the future for assessing company/asset vulnerability to extremes. As a result of these changes and slow action to reduce emissions, the World Economic Forums’ Global Risk Report has become increasingly dominated by environmental and social issues stemming from climate change. In 2018 the risks from extreme weather events, natural disasters, and failure of climate change mitigation and adaptation, were ranked as the most likely and most impactful global risks facing the world economy.
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