The positive opportunities that leading companies can benefit from are partly dependent on regulation that enforces stricter requirements for climate emissions related business activities. This is already happening in some sectors and can strengthen in the near term. Technologies that can benefit in the near term do already exist and can already be improved and developed further by companies.
The risks to high emissions companies relating to rising costs for carbon emissions are likewise dependent on the timing of regulation, costs are already becoming more meaningful, and things may change in this field in a matter of the next few years.
The risks relating to physical effects will rise over time, in our view the majority of companies may still not be materially affected by physical risks during the next 5 years.