The long tail of climate change affects all parts of the financial system through several interconnected channels - banking; investment & asset management; and insurance.

We should care about how our capital market investment system works, because it threatens both the health of the global cum national economy and our retirement savings. Of a particular consequences is GHG emissions, it is not just risks to individual companies but to the entire economy and long-term portfolio returns.

According to Bloomberg article, "Climate Change to cause $38 trillion a year in damages by 2049 and the global economy could face annual losses exceeding $38 trillion by mid-century.

Source: Bloomberg, Laura Milan, 17.4.24.