The financial sector key to mitigating the risk of climate change
Allianz Group and WWF, 5 [June, London, http://www.wwf.org.uk/filelibrary/pdf/allianz_rep_0605.pdf, “Climate Change & the Financial Sector: An Agenda for Action”, Accessed July 20, //SH]
Climate change poses a major risk to the global economy: It affects the wealth of societies, the availability of resources, the price of energy and the value of companies. At the same time, the need to revolutionize the way we use energy opens up a new universe of options for economic development and social benefits.
The financial industry has a two-fold responsibility. On the one hand, it needs to prepare itself for the negative effects that climate change may have on its business and on its customers. On the other hand, it can significantly help mitigate the economic risks and enter the low-carbon economy by providing appropriate products and services.