With insurers shouldering a record $160 billion in climate-related losses from last year alone, a group including 30 central banks called for measures to spur green finance and better assessment of the risks from higher global temperatures.
The move led by the Bank of France, Bank of England and People’s Bank of China draws the group deeper into a controversial area of policy-making where they advocate funding for alternatives to fossil fuels. They set out a road-map for authorities to use in prodding executives and investment funds to weigh up the impact global warming will have on portfolios.
