US$5 trillion sovereign bond group rethinking climate risk

The Assessing Sovereign Climate-related Opportunities and Risk (Ascor) project, spearheaded by BT Pension Scheme Management and the Church of England Pensions Board, has proposed a framework it says focuses on fairness between richer and poorer countries. — Reuters

NEW YORK: A US$5 trillion (RM21.3 trillion) investor coalition wants to change how markets assess government bonds to help unlock climate finance to emerging markets.

The Assessing Sovereign Climate-related Opportunities and Risk (Ascor) project, spearheaded by BT Pension Scheme Management and the Church of England Pensions Board, has proposed a framework it says focuses on fairness between richer and poorer countries.