The largest investors in the world started thinking of climate changes, Bloomberg reports with reference to Amundi SA.

Risks of global warming range from physical assets damage from extreme weather to decline of fossil fuel related assets price. World is turning away from coal and oil. Leaders of Bank of England already warned that such risks are not priced in assets correctly.

Amundi’s comments has weight since it manages 1,4 trillion euro of assets, that makes fund the largest in Europe. It also manages biggest green bond fund with International Finance Corp. and plans investing $2 billion in emerging markets. According to fund’s managers, investors now realize what benefits and threats come from climate change.

It is impossible to evaluate autoproducers today without taking into account ban on diesel cars. It is also hard to evaluate fossil fuel sector without considering falling prices of renewable energy.

Paris climate agreement that unified 200 countries in 2015 sent a signal that carbon-free future is not far away. It will certainly influence assets owners. France was the first country that obliged investors to disclose their carbon-related assets.

Besides, Amundi developed low-carbon equity indexes by excluding polluting corporations from such common benchmarks as S&P 500 and MSCI. Many investors all over the world are already using such indexes.