IMF Warns of climate change risks, says firms mus t Pay More Attention

Investors worldwide are underestimating the financial risks from climate change, and companies need to start disclosing their exposure, says the International Monetary Fund. As global temperatures rise, severe climate events may impact companies owning assets in areas hit by drought, floods, wildfires and storms, the fund said Friday in the latest chapter released from its Global Financial Stability Report. At present, asset prices fail to reflect the risk of extreme weather events that may cost US$1 trillion annually starting in 2050, the IMF said. The report included an analysis of equity markets over 50 years.