Investors and financial institutions are, and will continue to be, exposed to downside risks as a result of climate change. The risks include: macroeconomic impacts such as the expected reduction in productivity and economic growth in many developing countries, direct physical impacts of climate change such as flood and storm risks to coastal population centres, and the impacts of policy measures directed at reducing GHG emissions from electricity generation, large industrial sources, transport and other economic sectors. This report focuses on private sector providers (or sources) of capital, and the intermediaries responsible for deployment of this capital. These intermediaries include banks and asset managers. Asset owners include pension funds, insurance companies, sovereign wealth funds, mutual funds and foundations. Together these investors and financial institutions manage the pensions and savings of individual citizens.