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Carney Sidesteps Fossil Fuel Funding Debate with Climate Warning

Nov. 21, 2018, 7:53 PM

Bank of England Governor Mark Carney said divesting from fossil fuel companies isn’t necessarily the best way forward for investors concerned about climate change as he warned that insurance losses linked to environmental issues may be among the worst ever this year.

Citing research from Munich Re, the U.K. central banker said insurance companies racked up a record $140 billion in payouts last year that were linked to global warming, and this year may be just as bad. He’s prodding companies to disclose more about their climate related risks but stopped short of endorsing the movement to divest from the ...

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