UN partners with KLP to Identify Financial Investments At Risk
The United Nations Office for Disaster Risk Reduction and KLP, Norway’s largest pension company, announced today a partnership to geo-tag financial investments against vulnerability to disaster and climate risk.
The UN Secretary-General’s Special Representative for Disaster Risk Reduction, Mami Mizutori, said: “This is a major breakthrough in the world of finance and investment. It is clear recognition of the need to include disaster risk in the investment portfolios of any self-respecting enterprise seeking to avoid exposure to climate and disaster risks.
KLP is Norway’s largest pension company, holding close to US$80 billion in total assets [NOK 676 billion].
The partnership is focused on connecting the asset geo-location of the largest companies on the Oslo stock exchange with potential vulnerability to natural hazards. It aims to examine the importance and value of assets based on their location. It will include a classification of facility type and overlay that information with an understanding of the asset sensitivity to develop a weighting relative to disaster risk.
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