The risks to the economy have changed the sentiments of many investors, as many of the institutional investors are divesting from the sector. About 1000 institutional investors have decided to divest from fossil fuels entirely. These investors represented $6.24 trillion in assets. Ireland was the first country to stop its funding to the fossil fuel department, whereas New York City has become the largest city to divest from fossil fuels. The total of $189 billion was scheduled to be divested within five years.
The growing concerns are being taken into account by many public and political representatives. In a recent survey, climate change was the top risk to the economy in 2019, ahead of cyberattacks, financial instability, and even terrorism. The Australian bushfires, US wildfires, and increase in hailstorms all suggest the confirmation of climate change.
Today’s infographic is themed on the same issue of economic losses and potential risks due to climate changes.
Infographic by: visualcapitalist.com