The price of climate change

CLIMATE change is gaining traction as a global policy initiative, a key risk factor and an emerging investment theme. This report gives our views on the likely impact on investors and investment outcomes.

We are not going to debate the science of climate change, but note the following key points are driving the debate:

Even if you are sceptical of global warming and its causes, we think it is prudent to appreciate the regulatory momentum behind it.

Governments are moving to curb and eventually reduce greenhouse gas emissions.

Policy changes

Policymakers are targeting fossil-fuel producers and energy inten…