Investor Group Warns Funds to Ramp Up Climate Risk Checks
- Survey shows only 25% of portfolios assessed for physical risk
- Need to improve access to data and analytics tools on climate
A farmer stands in the dried-up bed of the Namoi River in Walgett, New South Wales.
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Australian money managers need to better measure the physical impact of climate change across their portfolios to avoid “catastrophic” long-term risks, according to a new survey.
An analysis of 53 funds with more than A$30 trillion ($20.2 trillion) under management globally showed just under a quarter have assessed their portfolio for these risks. Only 9% have implemented responses to mitigate the potential problems, the Investor Group on Climate Change report showed Tuesday.