Globally, North American pension fund real estate portfolios are at most risk from climate change and the transition to net-zero carbon dioxide emission economies, according to Ortec Finance.
The technology and risk management solution provider also says U.S. and Canadian pension plans, in general, face the greatest danger from a warmer planet, as well as government and industry efforts to stem rising temperatures.
Analysis conducted by Ortec Finance has found that under high warming scenarios, the frequency of extreme weather events in the United States — which it says are conducive to events such as the wildfires currently devastating Los Angeles — are projected to rise by over 30 occurrences per year by 2050, representing a 170 percent increase. This aligns with a scenario in which global temperatures increase by 5.4 degrees Fahrenheit (3 degrees Celsius) above pre-industrial age levels by 2100, as projected under current climate policies in the United Nations
