"The financial sector fails to properly assess the impact of the low-carbon energy transition, artificial intelligence and other long-term trends. This event was not an unpredictable 'black swan' - but a 'white swan in the dark', it suggests. "This report demonstrates why financial models and tools must be refined" said Daniela Saltzman, Director, Generation Investment Management. "Analysts' focus on short-term risks is not surprising since there is basically no demand for long-term research from investors. Financial regulators have already spoken out on the need for more and better analysis on climate risk.

Source: Forbes February 23, 2017 00:02 UTC