Climate change will be the second global mega-trend to affect sovereign credit risk through the rest of the century, says international credit rating agency Standard and Poor's (S&P). Alongside the effects on societies of their ageing populations, the impact of climate change will put downward pressure on sovereign credit ratings, S&P said in a new report issued at the end of last week.
In S&P’s climate change risk ranking, the 20 most vulnerable nations are all emerging markets, many of them in Asia-Pacific.
