Science Daily / UT news

Wall Street investors react to climate change

According to Prof. Philipp Krüger’s paper entitled “The Importance of Climate Risks for Institutional Investors” co-written with Zacharias Sautner (Frankfurt School of Finance & Management) and Laura T Starks (Texas McCombs) Wall Street is starting to take action against climate change.

For this study published in the March 2020 issue of the Review of Financial Studies, they created the first-ever survey of institutional investors on climate change. From banks and insurers to pension and mutual funds, 97% of 439 respondents believe global temperatures are rising. More than half say climate risks are already a factor in their investment decisions. The survey also reveals how institutions are starting to act.

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• To read the article of UT News, please click on the link.