MACROECONOMIC IMPLICATIONS OF CLIMATE CHANGEFossil fuels will remain a prominent feature of the global energy landscape for decades. As a result, investors may want to evaluate the greenest firms within traditionally brown industries.Page 16Weathering Climate ChangeDownload white paperExplore more chaptersClimate change is today's realityClimate change is today's realityFeb 11, 2021With the next 15 years of climate change already determined, unprecedented variability in weather is assured.How are markets pricing in climate risk?How are markets pricing in climate risk?Feb 11, 2021Climate risk will increasingly be reflected in market prices, leading to a potentially dramatic repricing in a range of sectors, assets, and companies.Investment Implications by Asset ClassInvestment Implications by Asset ClassFeb 11, 2021Climate change is not just a risk factor in the investment framework but an opportunity for active alpha generation along the path to a greener economy.Portfolio ImplicationsPortfolio ImplicationsFeb 11, 2021Investors can no longer ignore climate change. Yet few have a comprehensive plan to address it. We propose a portfolio-wide climate action plan for investors. “EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia,” U.S. Energy Information Administration, September 24, 2019. Global Internal Displacement Database, Internal Displacement Monitoring Centre, accessed 2020.