Abstract
Climate change is set to dramatically impact both financial markets and the wider economy. Most immediate risks that stem from climate change, relate to the risk of physical changes such as extreme weather events or alteration of climate patterns and the implied risk of economic impact and damages from such events. However, the impact of the transition to a low carbon economy manifests itself also in an alteration of the financial viability of a part of the capital stock and business models, particularly impacted are fossil-fuel companies and other high-carbon projects.
Beyene, Winta