IMF warns investors: You’re not ready for climate change
by Laura Millan Lombrana and Eric Martin, Bloomberg Green
Highlights
- A new report from the International Monetary Fund (IMF) says investors worldwide are underestimating the financial risks from climate change, and companies need to start disclosing their exposure
- Asset prices currently fail to reflect the risk of extreme weather events that may cost $1 trillion annually starting in 2050
- The cost of climate disasters such as wildfires, flooding, and storms has also spiked, rising above $120 billion annually from $22 billion in the 1980s
- Sustainable Investing has spiked and these funds hold a large percentage of equity shares globally
- Equity investors struggle with focusing on long-term challenges, such as climate change, as they traditionally analyze short term effects
Fossil fuel divestment and the transition to 100% clean energy is a major step towards achieving the Climate Center’s Climate-Safe California Platform.
Nina is a graduate of the Energy Management and Design program at Sonoma State University. She has experience in non-profits that specialize in sustainability and volunteerism. Nina is currently the Energy Program Coordinator and produces the bi-weekly Clean Power Exchange newsletter.
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