Companies and investors who fail to recognize how rapidly the planet is overheating are exposing themselves to enormous financial risks, according to Sweden’s minister in charge of financial markets. “Climate risks are financial risks,” said Asa Lindhagen, whose portfolio as minister includes banks and asset managers. “If you do not deal with this, it is a huge risk for your business.” The United Nations’ Intergovernmental Panel on Climate Change last month delivered its most disturbing assessment yet of the pace of global warming. The crucial threshold of an increase of 2 degrees Celsius will be passed this century, unless carbon emissions are dramatically cut. Even if warming is maintained within that limit, the planet is still facing more deadly floods, droughts and wildfires, scientists have concluded. “We need to manage this before it damages mankind,” said Lindhagen, who represents Sweden’s Green Party in the country’s minority coalition. Regulators need […]