Norway to assess climate impact on markets
Assessing the impact of climate change on strategic asset allocation decisions
The Norwegian government said on Wednesday June 3 it would assess the impact of climate change on financial markets and urged global investors to join forces.
“I can now make public that we, together with the consulting firm Mercer, are taking a leading role in launching a comprehensive research project aimed at assessing the impact of climate change on financial markets, as well as implications for strategic asset allocation,” said the Norwegian Minister of Finance Ms Kristin Halvorsen at the Government Pension Fund’s Investment Strategy Summit “Investing for the long run”.
In her introduction the Minister encouraged other large institutional investors and industry thought leaders worldwide to join forces in this project. “Climate change can have wide-ranging consequences for the world economy and financial markets. Together we need to develop the tools and critical thinking that is required to understand the financial implications of climate change,” said Ms Kristin Halvorsen.