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Heating up

A handful of banks have launched indexes tracking the performance of companies that stand to profit from global warming. Ryan Davidson looks at some of the structured products developed off the back of them

The earth is undergoing rapid change: it is already in the grip of water shortages, coastal flooding and storms; the Amazon rainforest is severely damaged; and the Greenland and West Antarctic ice sheets are melting at a rate of knots. And, according to a report published last October on climate change commissioned by the UK Treasury and written by former World Bank economist Nicholas Stern

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