The US decision to withdraw from the Paris Climate Agreement has provoked deep disappointment in both the public and private sectors. Yet while governments come and go, investors are here for the long term. They are the ones that still have the opportunity to set the climate agenda.

Comments by Bank of England Governor Mark Carney two years ago warning of the catastrophic risks of climate change unless companies do more to reduce CO2 emissions in their portfolios were a wake-up call to investors.