Finance
Investor Group With $4.7 Trillion Says Asian Banks Are Failing on Climate Change
- Survey of 32 lenders finds insufficient action to meet goals
- Aviva, Fidelity group manages $4.7 trillion in combined assets
This article is for subscribers only.
Banks in Asia are failing to take sufficient action to tackle climate change and are mispricing their own exposure to carbon-intensive assets, according to a report by an investment group that manages a combined $4.7 trillion.
“Without urgent course correction, widespread misallocation of capital will continue, leaving the region vulnerable to correction,” the Asia Transition Platform said in its 75-page report released on Wednesday.