ALMOST HALF OF GOVERNMENT-BACKED INVESTMENT FUNDS IGNORE CLIMATE RISK

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1 may 2016

Sovereign funds ignore climate risk

Attracta Mooney, Financial Times, May 1, 2016

The world’s largest government-backed investment funds have been accused of ignoring the risks climate change poses to their portfolios despite warnings it could hurt returns and make high-carbon investments worthless.

Research from the Asset Owners Disclosure Project, a non-profit organisation, has found no evidence that the sovereign wealth funds in Abu Dhabi, Kuwait, China, Saudi Arabia and Hong Kong have taken any action to factor climate change risks into their investment decisions.

The group also found that almost half of the world’s 500 largest investors are ignoring climate risks.

Julian Poulter, chief executive of AODP, which collects information about investors’ exposure to environmental risks, called the findings “shocking”

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