The Importance of Climate Risks for Institutional Investors
调查发现机构投资者认为气候风险已开始影响其投资组合公司的财务表现，多数偏好风险管理和参与而非撤资，并认为部分股票估值未充分反映这些风险。
Abstract According to our survey about climate risk perceptions, institutional investors believe climate risks have financial implications for their portfolio firms and that these risks, particularly regulatory risks, already have begun to materialize. Many of the investors, especially the long-term, larger, and ESG-oriented ones, consider risk management and engagement, rather than divestment, to be the better approach for addressing climate risks. Although surveyed investors believe that some equity valuations do not fully reflect climate risks, their perceived overvaluations are not large.