I wonder to what extent > 2°C climate change scenario expectations have already been priced into the market...
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not really, I'd think. Markets quite terrible at pricing non-bootstrap-able stuff.
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My guess: less than it should be, more than some think, and very unevenly by industry (eg, lots in petrochem, little in real estate).
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2008 taught us that there is no such thing as "priced into the market". Investors are mostly clueless.



