Governments and companies are increasingly recognizing the economic impact of climate change, prompting a shift towards climate-resilient investments. A new report by MSCI highlights this trend, revealing that financial market participants anticipate significant damage to the macroeconomy from extreme weather events. The report emphasizes the rising insurance premiums, potential uninsurability of properties, and disruptions to various industries due to climate-related risks. It also underscores the opportunities for businesses providing climate change mitigation and adaptation solutions.
GOVERNMENTS and companies can no longer ignore the impact of climate change and extreme weather events on their economies and bottom line, respectively. As a result, decision-makers in both sectors will be continually assessing the effects on their assets and mitigating the risks, while choosing investments that can make their structures more climate-resilient.
Chan elaborates on the physical risks that many industries will experience. He says, 'More frequent and intense flooding could impact manufacturing operations and damage production assets. Heat waves could cause heat stress and reduce labor productivity, impacting sectors dependent on physical labor, such as agriculture and construction. Extreme weather events could disrupt travel plans and impact tourism.
Finance Environment CLIMATE CHANGE INVESTMENTS RESILIENCE EXTREME WEATHER INSURANCE
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