IMF: "Equity Investors Must Pay More Attention to Climate Change Physical Risk"

IMF:   "Equity Investors Must Pay More Attention to Climate Change Physical Risk"

"The COVID-19 pandemic has shown how fast and extensive disruption of economic activity can be (even for well-known types of risks), underscoring the importance of preparedness and adequate risk assessment."

"As scientists warn that global warming will increase the frequency and severity of .. extreme weather events, the IMF’s latest Global Financial Stability Report examines the impact of climate change physical risk (loss of life and property as well as disruptions to economic activity) on financial stability"

"the total costs of the 2018 wildfires in California were up to $350 billion, or 1.7 percent of U.S. GDP. Every year, climatic disasters cause human suffering as well as large economic and ecological damage. Over the past decade, direct damages of such disasters are estimated to add up to around US$ 1.3 trillion (or around 0.2% of world GDP) on average, per year."
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