The High Stakes Of Climate-Risk Accounting
Global Voices
By Gernot Wagner, Climate Economist, Columbia Business School: Climate risks, in particular, have been systematically underestimated, and thus mispriced, for decades.
Economists are supposed to be good at understanding risk. Decision-making in the face of uncertainty, after all, is the discipline’s bread and butter. Yet at a time when real-world risks – geopolitical, macroeconomic, financial, public health, and environmental – are piling up, many economists seem to be at a loss. Although businesses and investors stand to make a lot of money if they can properly assess and navigate the current risk environment.
The High Stakes Of Climate-Risk Accounting
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