Carney Warns Investors They May Undervalue `Huge' Climate Risks

Bank of England Governor Mark Carney said investors need to wake up to the potential for huge losses from a sudden shift in regulations designed to curb global warming and the use of fossil fuels.

“The challenges currently posed by climate change pale in significance compared with what might come,” Carney said in a at a Lloyd’s of London dinner in the U.K. capital late Tuesday. “Once climate change becomes a defining issue for financial stability, it may already be too late.”