World's top banks ill-prepared for climate risk - industry report

LONDON, Oct 22 (Reuters) - The world's biggest banks are ill-prepared for the effects of climate change and lenders are making insufficient effort to fund a transition to a low-carbon economy, an industry report said on Thursday. Of the world's 10 largest banks, only Bank of China and Citigroup were among the top 10 ranked for climate management in a report by investment manager Boston Common Asset Management. A major criticism of the banks surveyed was that many fail to assess adequat