Investors in global stock markets should pay more attention to the overlooked economic effects of extreme weather events, which have cost the the United States $ 500bn since the past five years and $ 500bn in 2005 . State Street Global's Geoffrey Heal said the destruction of wealth brought about by weather-related disasters, as well as the drop in productivity that occurs during hot weather, hamper economic growth. The Commodity Futures Trading Commission recently said it will set up a committee to "identify and examine climate change-related financial and market risks".
Investors in global stock markets should pay more attention to the overlooked economic effects of extreme weather events, which have cost the US $1.1tn since 2005 and $500bn in the past five years. State Street Global's Michael Arone said the destruction of wealth brought about by weather-related disasters, as well as the drop in productivity that occurs during hot weather, hamper economic growth. The Commodity Futures Trading Commission recently said it will set up a committee to "identify and examine climate change-related financial and market risks".