Tackle climate or face financial crash, say world's biggest investors

Global investors managing $32tn issued a stark warning to governments at the UN climate summit on Monday, demanding urgent cuts in carbon emissions and the phasing out of all coal burning. Without these, the world faces a financial crash several times worse than the 2008 crisis, they said.

Investment firm Schroders said there could be $23tn of global economic losses a year in the long term without rapid action

Investment firm Schroders said there could be $23tn of global economic losses a year in the long term without rapid action

The investors include some of the world’s biggest pension funds, insurers and asset managers and marks the largest such intervention to date. They say fossil fuel subsidies must end and substantial taxes on carbon be introduced.



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| The Paris Agreement | cop24

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Climate change


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