Carbon-intensive firms are likely to lose 43% of their value thanks to policies designed to combat climate change, according to reports.
Meanwhile, the most progressive companies will see an uplift of 33% in their value. The forecast was commissioned by the UN-backed Principles for Responsible Investment (PRI).
Representatives of fossil fuel companies told the BBC they were already adapting their businesses to take climate change into account. But the PRI study suggests major winners and losers will emerge between, and within, big sectors. Adding that, Manufacturers slow to move to EVs will see their value fall, as governments realize that petrol and diesel models must be phased out faster for climate targets to be met.