The intense winter storms that plunged Texas into a deadly energy crisis in February was a stark example of the sweeping impacts of climate change on infrastructure, communities and people. The Biden administration’s recommitment to the Paris Agreement and ambitious climate agenda should usher the US back into the global effort to combat the climate crisis. But government and regulatory action, while essential, will not be enough.

If we are to mitigate the most devastating effects of climate change, it is vital that the private sector plays its part. This will require investors not only to protect against the downside risks from a changing climate but equally to embrace the breadth of opportunities available from actively supporting the transition to a greener planet.