In the UK, climate related risk has moved from the NGO agenda to that of asset managers. A recent survey reported that fund managers believe International Oil Companies (IOCs) will be negatively revalued within a few years due to climate change related risks.
According to the report from the UK’s Sustainable Investment and Finance Association (UKSIF) and the Climate Change Collaboration, 90% of fund managers expect at least one risk to impact significantly the valuation of IOCs within 2 years. The three main risks that are under discussion are:
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