The Guardian (5.4.16) reports that the Bank of England and World Bank have warned of the risks to the global economy of climate change and the G20 has asked the international Financial Stability Board to investigate the issue. In January, the World Economic Forum said a catastrophe caused by climate change was the biggest potential threat to the global economy in 2016. “Physical climate change impacts are a systemic risk on a massive scale,” said Ben Caldecott, the director of the sustainable finance programme at the University of Oxford. “Investors can do much more to differentiate between companies more or less exposed and they can help reduce the risk to the global economy by supporting ambitious action on climate change.”
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