Millions of pensions at risk because investment consultants overlook threat of climate tipping points

Pension funds are risking the retirement savings of millions of people by relying on economic research that ignores critical scientific evidence about the financial risks embedded within a warming climate, warns a report released today by Professor Steve Keen and the financial think tank Carbon Tracker. Financial institutions, central banks, regulators and governments underestimate the dangers and economic damages of climate change, relying on research from a small, self-referential group of climate economists that ignores the impact of climate “tipping...