'Climate change may threaten $2.5 trillion in financial assets'
Excerpt
Climate change can destroy assets directly through sea-level rise for example, by depreciating their value, or by disrupting economic activities lower down the chain through drought or freak storms. A lot of research has focused on the oil, coal and gas investments that will be lost if the world turns its back on fossil fuels in favour of sustainable energy in line with the 2 C target. The new study attempts to break new ground with the first-ever estimate of a direct impact of climate change on the value of financial assets themselves.
Citation
'Climate change may threaten $2.5 trillion in financial assets'. (2016, April 7). Panay News, p. C5.
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