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Eighty of the world's largest insurers are failing to take seriously the financial risks posed by climate change, according to a report from the Asset Owners Disclosure Project. Less than 0.5% of assets managed by insurers are in low-carbon investments, and almost no groups have any strategy in place to decarbonise their portfolios. Though a few, mostly European firms are taking climate risks seriously, 90% of the sector's investment strategies are not aligned with the goals set down in the Paris Agreement.
Source: Asset Owners Disclosure Project