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Embracing change by adapting to a new climate

Responsible Investing

BNP Paribas Asset Management
 

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This article was written by Impax Asset Management, a specialist asset manager investing in the opportunities arising from the transition to a more sustainable global economy.

Whilst continuing to generate significant human impact and market uncertainty, the COVID-19 pandemic is also starting to trigger questions around other long predicted risks. In this context we focus on climate change adaptation as we look forward for known risks against which portfolios can be positioned.

Executive Summary

  • COVID-19 has demonstrated the interconnectedness and vulnerability of human systems and consequently the need for greater resilience. Such illustrations serve as a powerful proxy for understanding how these systems will stand against climate change.
  • Climate adaptation is underfunded relative to climate change mitigation leaving investments in climate resilience to be neither large enough nor fast enough.
  • Climate adaptation is critical for the transition to a more sustainable economy and compelling investment opportunities in both equity and debt issuances exist—particularly in areas such as smart and resilient energy networks, flood control solutions, satellite and telecoms services, business continuity software solutions, reinsurance of climate-enhanced nonlife insurance, and providers of global healthcare infrastructure.
  • Do no harm: resilience is multifaceted and lifecycle analysis should be conducted to minimize any conflicts among the various stages of the roll out.

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