Fund managers who ignore climate risk 'could face legal action'

Pension and investment fund managers have a duty to reduce the risk global warming poses to the world economy, green law firm warns

Pension and investment fund managers who ignore the risks of climate change face the prospect of legal action, according to financial and legal experts.

Global warming poses a systemic risk to the world economy and could significantly cut the value of investments, the experts argue, so those with fiduciary responsibility have a duty to act to reduce that risk, or be taken to court.