The economic effects of climate change will cut the value of many industries and lower the returns for investors, the UN will say.
Global delays in tackling climate change will cost the world’s biggest companies nearly £1trn, according to the United Nations. The claim is included in an eagerly awaited report into the effect of climate change on global investments.
The UN will say the economic effects of these delays will cut the value of many industries and lower the returns for investors, including those saving for their pension.
The report, which has been seen by Sky News, concludes that transitioning the world to a low-carbon economy could see the assets of just 500 investment companies fall by more than £8.2trn.
And it adds that the world’s top 30,000 companies will face an extra bill of more than a trillion dollars thanks to slow progress in cutting carbon emissions.