Climate adaptation to top $4 trillion in sales by 2050, GIC says

Revenue generated by climate adaptation could hit $4 trillion by 2050 and deliver investment opportunities in sectors from firefighting technology to flood insurance, according to a report co-authored by Singapore’s sovereign wealth fund.Analysts at GIC Pte, which manages an estimated $880 billion, and Bain & Co. identified key industries exposed to the adaptation theme, as some sustainability-focused investors begin to look beyond efforts to reduce greenhouse gas emissions and examine work to protect assets against the impacts of extreme…