Ian Simm, founder and CEO of Impax Asset Management paints a vivid picture of what may happen to asset managers who ignore the risk of climate change in their portfolios.
"If you put a frog in a pot of water and you slowly heat it up, the frog is going to think -- ooh this feels good. What the frog doesn't realize is that the heat paralyzes its muscles. When it becomes too hot, the frog can't move. The same happens to asset managers who do not realize the threat of climate change to their portfolios," says Simm at a climate seminar organized by Danish asset manager Formuepleje in late October.
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