The findings appear in a report, published today, commissioned by the Carbon Disclosure Project, a group of 35 institutional investors. Tessa Tennant, head of the project, said it should be “a wake-up call” for investors. The report, produced by Innovest, a New York-based specialist in environmental investment analysis, warned that “investors failing to take account of climate change and carbon finance issues in their asset allocation and equity valuations may be exposed to significant risks which, if left unattended, will have serious investment repercussions”.