Climate change to shrink economy

The report called for drastic action to halt global warming and F&C’s chief executive Alain Grisay said the process would be akin to the global communications revolution in terms of scale. However, with the issue of global warming we must look at a fundamental shift in our energy system, he said. Peter Michaelis, manager of Norwich Union’s UK Ethical fund, predicted the renewable energy market would, in the next 20 years, grow faster than the market in general. He said this would be caused by governments’ attempts to boost security of supply and reduce the environmental impacts of power ...