A number of recent reports suggest that the financial risk from climate change could be much greater than previously anticipated, and that entire asset classes could come under fire as temperatures continue to rise.
Trillions of dollars of market value could go up in smoke due to climate change.
The damage hits the global economy in multiple ways. The first is the most obvious. Physical damage from more powerful natural disasters is on the rise. 2017 and 2018 were the costliest back-to-back years for economic losses related to natural disasters, according to risk and reinsurance firm Aon.