Insurers, banks and pension funds at risk of climate change

The Global Risk Institute said in a report that global insurers, banks and pension funds are "inherently susceptible" to threats from climate change, reported Bloomberg.

Insurers face threats from physical events, risks tied to liability and "transition risk" from adjusting to a lower-carbon economy, the report said.

"Climate change is a top priority that must be addressed systemically and without delay," added the report.

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