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UBS launches major climate change research initiative: 'Forget the science - concentrate on financial markets'
UBS Investment Bank has launched the first part of a major research initiative looking at the implications for financial markets of reactions to climate change. In 12 coordinated research notes and four webcasts, UBS told its clients that no sector will be untouched by the climate change debate, but reactions will be felt differently. The research surmises, 'Forget the science - time to focus on financial markets.'
"A shift in the perceptions of climate change has put the issue of man-made greenhouse gases (GHGs) into the domain of risk management. We do not debate the rights and wrongs of the science." said Julie Hudson, head of Socially Responsible Investment research at UBS. "In our opinion what matters now is the response of financial markets, sectors and companies to climate change-related reactions."
UBS has identified sectors where share prices are likely to react to climate change, as well as considering the time frame. The bank considers key industries to focus on, ranging from energy, through capital goods, industrials, construction, risk transfer (eg, insurance), and others. UBS has highlighted 48 companies, including six key stocks where it believes the impact of climate change will be a key driver of the stock going forward. They are: ABB (Buy 2, new PT CHF 32 from CHF 28); EDF (Buy 1, new PT €100 from €80); Intertek (Buy 1, PT 1100p); Saint Gobain (Buy 1, new PT €100 from €84); Siemens (Buy 2, new PT €122 from €107); and Swiss Re (Buy 2, PT CHF 130).
UBS surveyed its entire European research department, asking industry analysts, as well as economists and strategists, to answer key questions as they relate to their sectors and stocks.
Nick Pink, head of European Equity Research said;
"Climate change is an important issue that will have significant consequences for our clients for many years to come. Leveraging UBS' strength in industry knowledge, we seek to help our clients understand the implications of reactions to climate change in an easy, formative way."
The published research notes and webcasts are;
Q-Series®: Reacting to Climate Change
Need to Know - Reacting to Climate Change
Engineering and Climate Change
Support Services & Climate Change
European Reinsurance & Climate Change;
Saint Gobain (29 pages); Saint Gobain (12 pages)
Morning Expresso - Climate Change
Webcast: Q-Series®: Reacting to Climate Change - Julie Hudson
Webcast: Engineering and Climate Change - Michael Hagmann
Webcast: Support Services and Climate Change - Shepperd
Webcast: European Reinsurance and Climate Change - Ben Cohen
To request copies of the above reports or for any further information, please contact:
Richard Morton, UBS Media Relations
+44(0)20 7568 0175