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Funds Ignoring Climate Risks Rose Last Year Despite BOE Warning

  • Almost half world's top 500 investors score zero in risk poll
  • A fifth of investors are taking steps to mitigate risks
Mark Carney, governor of the Bank of England

Mark Carney, governor of the Bank of England

Photographer: Jason Alden/Bloomberg

The number big investors ignoring climate change risk increased last year despite a stark warning from Bank of England Governor Mark Carney’s about the potential for “huge” losses from a sudden shift in regulation designed to curb global warming and fossil fuels.

Almost half of the world’s top 500 investors are failing to act on climate change -- an increase of 6 percent from 236 in 2014, according to a report Monday by the Asset Owners Disclosure Project, which surveys global companies on their climate change risk and management.