EU Deal Forces Investors to Shift Gears on Climate Threat

One of the biggest achievements of the European Union’s climate strategy could be forcing investors to view global warming less as a distant menace and more as an imminent threat.

The bloc’s ambitious Green Deal, which it announced on Wednesday, touches everything from cars to cement and is designed to cut pollution by at least 55% by 2030 from 1990 levels. And though it says little directly about the finance sector, the so-called Fit for 55 package has significant ramifications for money managers by making them consider the near-term economic impacts of the earth’s changing climate, said Daniel Klier ...