Failure to rein in climate change and bolster sea defences could jeopardise up to a fifth of the world’s economic output by the end of the century, as flooding threatens coastal countries worldwide, according to a new study. From Bangladesh and India to Australia and Britain, rising sea levels already are leading to more frequent and extreme flood events. With climate change causing polar ice to melt and ocean waters to expand, economists have sought for years to put a figure on the future...

LONDON (Reuters) – An investor group managing more than $16 trillion on Wednesday launched the world’s first step-by-step plan to help pension funds and others align their portfolios with the Paris Agreement on climate change. Many investors have pledged high-level support to the goals of the 2015 Paris deal, but the “Net Zero Investment Framework” is the first to lay out the steps they need to take to ensure the commitment is backed up by the necessary action. Specific targets could include...

LONDON/MEXICO CITY (Reuters) - One of the world’s leading investor groups pushing for more corporate action on climate change said it has added Mexican state-owned oil company Petroleos Mexicanos (Pemex)[PEMX.UL] to its list of targets. Climate Action 100+, whose 450 members manage more than $40 trillion in assets and focus on engaging with companies which produce high levels of greenhouse gas emissions, said it would now look to step up talks with Pemex. “Pemex has been added to the list of...

LONDON (Reuters) - Standard Life Aberdeen (SLA) (SLA.L) Chief Executive Keith Skeoch will step down after five years at the helm and former Citi executive Stephen Bird will replace him, the British asset manager said on Tuesday. The announcement marks the end of a 14-year career as an SLA director for Skeoch, during which he oversaw the 2017 merger of Standard Life and Aberdeen Asset Management to create one of Britain’s biggest fund managers. His period as CEO, a job he originally shared...

LONDON - With Earth's wildlife now facing an extinction crisis, a group of economists and scientists is hoping to persuade governments that it pays to protect nature. Specifically, expanding areas under conservation could yield a return of at least $5 for every $1 spent just by giving nature more room to thrive. That in turn would boost agricultural and forestry yields, improve freshwater supplies, preserve wildlife and help fight climate change – all of which would boost global economic...