US fund manager AllianceBernstein is sending its investment staff back to school. The $580bn fund house has developed a training course with New York’s Columbia University on the financial risks of climate change, which the firm’s analysts and portfolio managers will be required to attend. A pilot group of 35 AllianceBernstein portfolio managers and analysts attended sessions at Columbia’s Lamont-Doherty Earth Observatory earlier this year to learn how to factor climate risks, such as rising sea levels, wildfires and extreme weather, into their investment decisions.
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