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Alternative Market Briefing

60% of companies at risk from climate change: S&P

Friday, January 24, 2020

Laxman Pai, Opalesque Asia:

Almost 60% of S&P 500 companies hold assets at high risk from climate change, according to an S&P Global presentation at the 2020 Annual Meeting of the World Economic Forum in Davos.

The findings revealed that in the S&P 500 Index own physical assets across 68 countries globally, while 60% of these entities (with a market capitalization of $18 trillion) hold assets that are at high risk of at least one type of climate-related physical event.

Some sectors face heightened risks. For example, real estate investment trusts (REITs) included in the S&P 500 own properties across the globe with significant concentrations in the U.S., U.K., and Canada.

The biggest physical risks for those companies come from heatwaves, wildfires, water stress and hurricanes linked to rising average global temperatures. Another key factor is the location of assets, which outweighs the industry or sector, S&P Global found.

Dr. Richard Mattison, CEO of Trucost, part of S&P Global said: "These types of findings play a vital role in helping understand the financial risks associated with climate change, and in turn enable the public and private sectors to work in tandem, establish proper frameworks, and tackle the biggest issue facing our generation."

The presentation also highlights S&P Global Platts analysis that estimates adherence to historic trends would significantly increase energy-combustion CO2 emissions, while Platts' most like......................

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