expert advice

It is in this context that Lehman Brothers decided to take a hard look at global warming, starting with the scientific and climatological evidence, then proceedings to the economic consequences and implications for policy; and finally – with significant help from the Firm’s equity analysts – considering potential impacts on major business sectors.

The result is this publication: The Business of Climate Change: Challenges and Opportunities…And, as the title indicates, we consider that climate change poses many challenges but also presents many business opportunities…

This study is far from the last word; indeed, we see it as just a starting point for a dialogue with our investing an corporate clients. As the discussions with our clients and policy experts progress, we will take this work further.

Lehman Brothers, The Business of Climate Change, February 2007