The UK’s largest money manager Legal & General Investment Management (LGIM) says the world is facing a climate catastrophe and businesses around the world must address it urgently or face the prospect of shareholders refusing to back them.

The warning comes as demonstrators converge on 80 cities worldwide under the Extinction Rebellion banner to challenge governments to do more- especially around ‘telling the truth ‘ on climate change and setting a target for carbon emission to be net zero by 2025.

The latter may seem to be an over-ambitious target, but it reflects the widely understood fact, at least by 98% of the world’s scientists, that the point at which it becomes very difficult to prevent global warming is not far off. Some are calculating 12 years’ time at current rates.

Finance leaders are key to this whole issue. Responsible for financial accounts of a company, they are also increasingly able to account for the environmental impact of their organisations.

In future, any impacts are likely to be costed accordingly to meet targets, especially of carbon emissions to attempt to check the threat of climate change.

Investors, NGOs, customers and other stakeholders are all coming to a common view that action needs to happen- between companies and governments- to prevent the catastrophe of unstoppable climate disaster.

CFO, FDs and other finance leaders are key to what happens next.