Investors With Trillions Aren't Handling Australia Climate Risks.

A group focused on climate risks has found that major investors in Australia are not adequately responding to the increasing threats posed by natural disasters such as cyclones and floods. Despite the impact of extreme weather events on infrastructure and assets, a survey of 63 investors operating in Australia with over $23 trillion under management globally found that only 16% had calculated the risk across their entire portfolio, and just 3% were taking any action. The Investor Group on Climate Change emphasized the need for a shift towards adaptation and resilience to protect investments. The economic costs of volatile weather are expected to reach hundreds of billions of dollars in the coming decades. [Extracted from the article]