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Innovations Battling Climate Change Are Ramping Up. UBS Says Invest in These Trends.

Innovations Battling Climate Change Are Ramping Up. UBS Says Invest in These Trends.

An “environmental credit crunch” will challenge current levels of unsustainable consumption, ratcheting up the pressure on companies to solve climate-related problems and providing opportunities for investors, said Swiss investment bank UBS.

“Urgent action is needed to combat the growing climate crisis,” the bank said in a report published on Tuesday, outlining how the economic costs of climate change are only adding to the environmental and human toll.

But while investors face increasing uncertainty from climate risks in assessing asset values, there are strong, long-term investing opportunities in sustainable innovations, the bank said on Tuesday.

Leveraging resources like oil and lumber has helped spur incredible economic growth in the modern era, including halving the number of people living in extreme poverty over the last 30 years, UBS said in the report, released ahead of Earth Day on Apr. 22.

But it has come at the cost of depleting those resources. Amid a wider social shift toward sustainability, investors are increasingly looking to evaluate investments under a framework of environmental, social, and governance factors, called ESG.

Read:Markets Are Watching Biden’s Climate Plans, But Not Waiting for Them

“Companies that are on the right side of history, when it comes to climate change and reducing their own carbon footprint, will better be positioned to prevent climate risks, deal with tighter regulations, and avoid reputational concerns,” said Solita Marcelli, UBS Global Wealth Management’s chief investment officer for the Americas, in a call with the media.

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