Financial markets ignore climate impacts at their peril: experts

[WorldNews]

By Megan Rowling BARCELONA (Thomson Reuters Foundation) - Financial markets have yet to grasp the urgency of investing in measures to protect businesses and people from the worsening impacts of climate change, depriving those efforts of much-needed funds, climate finance experts said. Samy Ben-Jaafar, director of the private sector facility at the Green Climate Fund (GCF), a new $10 billion fund agreed at U.N. climate talks, said the majority of companies were failing to protect their assets and supply chains from natural disasters and other climate-related risks because "there's no penalty for not doing it".

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