A new law requiring homebuilders and developers to compensate for the ecological harms of construction and tackle nature loss has led to growing interest from big banks in biodiversity credits. The World Bank estimates that current levels of damage to the ecosphere could cause GDP to be cut by up to $2.7 trillion a year. Bloomberg covers the story.
Investors are more attentive than ever to climate risks facing physical assets, CEO of data giant MSCI says in the aftermath of Hurricane Milton. There has been a shift in demand from climate tools measuring the risk of moving towards cleaner energy to those which help investors gauge and manage physical risks, particularly in the insurance sector. The Financial Times covers the story.
