|
By Régis VEILLET, Head Of Business Development, Cross Border Fund solutions, SGSS Luxembourg
The world is now realizing the climate change’s financial cost is likely to be huge. The last hurricane season in the Atlantic Ocean, for instance, has left overall insured losses worth an estimated USD100 billion, according to investment bank Morgan Stanley(1).
The consequences of climate change are far-reaching: a Peruvian peasant, Saul Luciano Lliuya, is suing RWE, an energy giant, in Germany, as he claims the company’s carbon emissions are responsible (albeit indirectly) for the melting of a glacier that has now formed a lake threatening his hometown of Huaraz(2).
There is a growing pressure on financial institutions to contribute to the...
|