BlackRock urges investors to rethink climate risk vulnerability

new jersey environment news, stock market

CHRIS SEEKINGS / THE ACTUARY – Investors are consistently underpricing the potential impacts of climate change on their assets, and need to reassess their vulnerability to an increasing number of risks.

That is according to a report published yesterday by BlackRock, which said it is unclear how investors incorporate climate risks like rising sea levels into their analysis.

In an “important next step” for investors, BlackRock leveraged 160 terabytes of data using new tools to demonstrate the potential impact on different asset classes.

For example, it found that New York City is facing rising sea levels of up to three feet by the end of the century, exposing more than $70bn (£53.5bn) of property to potential losses …

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