Florida leads nation in property at risk from climate change | Miami Herald

Fossil fuel use must fall twice as fast as thought to contain global warming | The Guardian

The cost of inaction: Recognising the value at risk from climate change | The Economist

The asset management industry—and thus the wider community of investors of all sizes— is facing the prospect of significant losses from the effects of climate change. Assets can be directly damaged by floods, droughts and severe storms, but portfolios can also be harmed indirectly, through weaker growth and lower asset returns. Climate change is a long-term, probably irreversible problem beset by substantial uncertainty. Crucially, however, climate change is a problem of extreme risk: this means that the average losses to be expected are not the only source of concern; on the contrary, the outliers, the particularly extreme scenarios, may matter most of all. The findings in this report indicate that climate change is likely to represent an obstacle for many asset owners and managers to fulfil their fiduciary duties.

Author: The Economist Intelligence Unit

Mark Carney set for new 'stranded assets' intervention | Climate Home

$283B of liquefied natural gas ‘uneconomic’ to 2025 | Carbon Tracker

Directors' personal liability for corporate inaction on climate change | Governance Directions

A proactive stance on governance of climate change is now seen as consistent with financial wealth interests. Boards must actively engage with how the issue of climate change impacts on their operations, risk and strategy. A passive approach to climate change governance may be inadequate to satisfy directors' duties of due care and diligence.

Author: Sarah Barker, Special Counsel, Minter Ellison Lawyers

Reprinted with the kind permission of the Governance Institute Australia