A new agreement between the Met Office and HSBC will see fund managers offered advice on investment planning in a world where climate change can have a major impact on performance.
The Met Office has reached an agreement with HSBC to provide information on weather events to fund managers. The deal could help those managing funds to minimise the impact of climate change on their investment portfolios and hence their clients.
Under the Climate Change Research Facilitation Programme, Met Office meteorologists will allow fund managers to access key research and offer advice to aid their financial decision making in the light of future climatic events.
Such information - which according to the Met Office is increasingly in demand among institutional investors - will help them to manage their risks and adapt their portfolios to meet the challenges posed by the changing weather.
Also involved in the programme are Risk Management Solutions (RMS), New Energy Finance and Ernst & Young, Exchange News Direct reports.
Dr Celine Herweijer, director of the RMS climate change practice, said: "Prudent businesses are beginning to ask how and where climate change will materially impact their operations, value chain, investments and wider commercial environment."
Meanwhile, the Telegraph reports that according to the think tank Open Europe, meeting the European Union's climate change targets will cost UK taxpayers £9 billion a year.
