“‘In our opinion, these findings and events show that many businesses and governments are not adequately prepared for climate impacts, nor are they using natural resources efficiently,’ the HSBC analysts said in the note.
“Many banks and asset managers have started factoring climate risks into their decision-making — a move spurred in part by former New York City Mayor Michael Bloomberg. But it’s far less common to see multinational banks sound the alarm about climate change so explicitly in their equity research. . . .
“‘In our view, adaptation will move further up the agenda with a growing focus on the social consequences,’ the analysts said.”
FULL STORY published August 7, 2018 via Business Insider