Press review
Financial Newswire
"Professor Riccardo Rebonato, scientific director of the EDHEC-Risk Climate Impact Institute, has said that pension trustees had been poorly served by their consultants and the estimates of likely portfolio losses due to climate change in their authorities’ reports were ‘implausibly tame’. His research further exposed the failure to communicate the huge uncertainty in damage estimates as the most glaring flaw of the advice received by trustees and denounced the non-sensical precision with which some of these estimates were presented. Professor Rebonato warned that not only pension consultants but also financial markets appeared to be sleepwalking into the climate crisis, noting: “Financial markets might be pricing in overly optimistic climate scenarios, indicating a potential repricing risk that trustees should be aware of,” he said."
2023
