Climate change is a "tectonic" force as powerful as ageing and globalisation that will reshape markets and economies, according to a report from Lehman Bros.

The report The Business of Climate Change, warns that businesses most likely to be affected by global warming include utilities, insurance, integrated oil and gas, mining and metals, pharmaceuticals, building and construction and real estate.

The report outlines the risks and opportunities in the sectors.

Rising seas and fierce storms, for instance, could wreak havoc on the real estate sector but the need for rebuilding could become a gold mine for developers.

The report also raises concerns about the lack of disclosure by companies on such metrics as carbon emissions and energy intensity. With the world moving closer to a global carbon trading regime, these are emerging as serious risks.

Definitely worth reading!