Is your pension fund or insurance company a leader or laggard when it comes to avoiding risky bets on the future impacts of climate change?
A new survey released today finds that many major institutional investors, like retirement funds and insurance companies, are putting their investments (read: your money) at risk by not addressing the negative financial impacts posed by climate change and atmospheric disruption.
The survey, called the Global Climate Investment Risk, is based on data acquired from 460 funds who were invited to provide data, either from members of those funds or using publicly available information. Each fund is rated from AAA to X based on investment mix and recognition of the financial risks that climate change will have now and into the future.
Conducted by the Asset Owners Disclosure Project (AODP), the survey concludes that, of the 460 funds, only 5 received a AAA rating, while 173 funds are rated “X.”