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Investors face 'transitional shock' as climate crisis hits

Knut Kjær, the founding CEO of the world's largest sovereign wealth fund and current private equity chair, deems that "irrational human behavior" has exacerbated environmental problems -- and goes as far as to call the global climate crisis the "biggest market failure of all time."

Knut Kjær, CEO of NBIM 1996-2008 | Photo: APG/PR

Put simply, the climate crisis represents the "biggest market failure of all time."

The observation comes from Knut Kjær, the founding chief executive of what is now the world's biggest sovereign wealth fund and, more recently, an evangelist for planet-preserving investment strategies.

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