Sizing the benefits and risks of our climate ambition

Over the last few years, more than 130 countries have announced their ambition to cut emissions to net zero. Achieving this ambition means deep structural change for our economies, affecting asset values across all sectors and countries – and that is the best case. If our commitment to achieving net zero is delayed or abandoned, changes to our economies will likely need to be more drastic further down the line, as the increasing cost of global warming becomes more apparent.

In light of these