Polluting firms ‘will be hit by climate policies’

Carbon-intensive firms are likely to lose 43% of their value thanks to policies designed to combat climate change, a report says. Meanwhile the most progressive companies will see an uplift of 33% in their value. The forecast was commissioned by the UN-backed Principles for Responsible Investment (PRI). 

Representatives of fossil fuel companies told the BBC they were already adapting their businesses to take climate change into account. But the PRI study suggests major winners and losers will emerge between, and within, big sectors.

Car-makers with the swiftest transition to electric vehicles (EVs), for instance, are projected to increase in value by 108%, according to the study by Vivid Economics. Manufacturers slow to move to EVs will see their value fall, as governments realise that petrol and diesel models must be phased out faster for climate targets to be met.