Скачать или смотреть ‘A wholesale rethink of risk is urgently required’: Eight industry takes on climate action

Reported today on Portfolio Adviser

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'A wholesale rethink of risk is urgently required': Eight industry takes on climate action

David Kneale, head of UK equities, Mirabaud Asset Management 12345678 "Many pension funds have spent much of the last 20 years matching the duration of their assets to their liabilities: unfortunately, many will discover that when they come to collect on these investments, changing climate has rendered many fundamentally unable to generate the returns for which they were bought. A wholesale re-thinking of investment risk and the ability to match assets to liabilities against a backdrop of such uncertainty is urgently required, by an industry which has barely begun to think about the tools it needs to do it."Portfolio managers can drive extraordinary levels of change, should we choose to, in:Demanding better disclosure, requiring data as yet uncollected by businesses: what are the risks to operating assets, to customers, to supply chains? How do these change under different scenarios?Ensuring management teams are alert to the challenges and businesses have the financial flexibility to respond effectively.Identifying businesses whose future costs of capital and returns on capital will deteriorate: a combination which makes successful investment almost impossible.