April 25, 2018 / 1:46 PM / a month ago

Fund managers expect climate risks to hit oil firm valuations -survey

LONDON, April 25 (Reuters) -

* A survey of 30 fund managers with collectively more than 13 trillion pounds ($18 trillion) in assets under management shows that 89 percent think climate change risks will impact oil company valuations “significantly” in the next five years.

* This is represents a doubling on last year of fund managers who saw climate risks impacting oil firms in five years

* The annual survey was carried out by the UK Sustainable Investment and Finance Association and the Climate Change Collaboration

* 62 percent see peak oil demand impacting valuations in five years and peak gas demand impacting valuations in 10 years

* Some of the fund managers surveyed include BlackRock, Aviva Investors, Deutsche Asset Management, HSBC Global Asset Management and Schroders (Reporting by Nina Chestney Editing by Alexander Smith)

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