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World's financial industry may lose $1 trillion if fails to respond to climate change: Report

Shortpedia

Content Team
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The world's financial industry may face a loss of $1 trillion if it fails to respond to climate change quickly, according to a new report by Oliver Wyman. The report also suggested that financial firms need to calculate and reduce their exposure to oil and gas industries. The report found that new firms in the financial industry were modeling climate risks at a granular level.