The world's largest investor says a $3.8 trillion market faces growing climate change risk

"Climate-related risks already threaten portfolios today, and are set to grow, we find," strategists at the BlackRock Investment Institute wrote in a report this week, honing in on the massive US municipal bond market could face as the planet warms.

States, cities, counties, and other government bodies issue municipal bonds — often called"munis" — to fund projects like building schools and highways. The muni bond market works in a similar fashion to the US Treasury market in the debt instruments it offers investors, but it does so on a smaller scale. Another key difference between the two markets is the interest paid on muni bonds, which are generally exempt from federal taxes.

Researchers at the firm highlighted expected shifts in economic activity under a"no climate action" scenario that assumes the ongoing use of fossil fuels.

So it's gonna cost us later on to do nothing now? AOC

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Citigroup to refund retail customers for investment losses: Australian regulatorCitigroup will refund more than A$3 million ($2.2 million) to retail customers i... That’s nice. With stolen Venezuelan gold? “I sincerely believe, with you, that banking establishments are more dangerous than standing armies.” —Thomas Jefferson, President of the United States (1801–1809) and principal author of the United States Declaration of Independence (1776)
Source: Reuters - 🏆 2. / 97 Read more »