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Managing climate risk is different for every institution but it is depressing that this article only looks backwards, to invest and meet our fiduciary duties we also need to look forwards. There is no discussion of stranded asset risk as reserves literally become unburnable if we are to stay within 2C. There is also no discussion of technological change with solar and wind competing on price in large parts of the world.

Are we going to stop using fossil fuels tomorrow, no, but are the returns from fossil fuel companies and industries that are based on them at risk, absolutely. Every fiduciary has a legal duty to assess this risk by talking to advisors who really understand this issue.

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