UK'S LARGEST ASSET MANAGER WARNS OF DEVASTATING IMPACT OF EXPECTED 4 DEGREE GLOBAL WARMING

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17 july 2017

Schroders issues climate change warning

UK’s largest listed asset manager fears temperatures will rise faster than expected

Attracta Mooney, Financial Times, July 17, 2017

Schroders, the UK’s largest-listed asset manager, has issued a stark warning about climate change, cautioning that global temperatures are on course to rise faster than expected, potentially putting trillions of pounds of investors’ cash at risk.

The fund house, which manages $520bn for investors across the world, said its analysis of the biggest drivers of climate change, including oil and gas production and political action, suggested global temperatures are poised to rise by 4 degrees above pre-Industrial Revolution levels.

This is twice the level agreed by global leaders in Paris in 2015, when more than 190 countries decided to limit global temperature rises to 2 degrees.

Andy Howard, head of sustainable research at Schroders, said investors would not be able to avoid the “force of nature colliding with financial markets in the years and decades ahead”, as governments attempt to control temperature rises.

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