Pension Funds Try to Come to Grips With the Scariest Global Warming Scenario
Institutional investors are trying to figure out what it would mean for their portfolios if continually rising temperatures trigger what JPMorgan Chase & Co. is calling “climate black swan risks.” The scenario is one that investors including Allianz Global Investors and Standard Life Plc say they’re taking increasingly seriously. It’s “something we really need to think about,” said Hetal Patel, head of sustainable investment research at Standard Life. The investor plans to do an “initial development” of its risk management around...
