Corporate climate reporting is underestimating risks
Bank and corporate climate audits and stress tests overestimate progress on climate targets due to understating risks
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In this article
- Under-estimating climate effort damage to carbon-based firms
- Under-estimating wider climate-related damage to national economies
- Positive feedback
- Contagion
- Faster fading of beneficial impacts
- New risks emerging
- Discounting future climate-change costs too heavily
- Judgemental biases that lead to neglect of extreme risks
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