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Banks Worth $7 Trillion Pledge to Calculate Costs of Climate Risks

Eleven of the world’s biggest banks pledged on Tuesday to find out how much exposure they have to risks related to climate-change, a move backed by environmentalists who say better information on the costs of global warming will push lenders to transition towards green investments.

With more than $7 trillion under management, some of the biggest names in global finance have signed onto the United Nations-backed disclosure effort for information on new risks presented by climate change.

Information on banks’ climate risks could eventually be reviewed by regulators as part of their financial disclosures, said Simone Dettling, a researcher with the U.N. read more >>>

Source:: VOANews.Com

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