A properly functioning market  will price in the risks associated with climate change and reward firms that mitigate them.
As its impact becomes more commonplace and public policy responses more active, climate change has become a material risk that isn’t properly disclosed.” in Carney, M., Bloomberg, M., (2016), How to make a profit from defeating climate change, The Guardian, 14/12/2016, available a t www.theguardian.com/commentisfree/2016/dec/14/bloomberg-carney-profit-from-climate-change-rightinformation-investors-deliver-solutions 13 expressed as GDP loss relative to base year GDP, at constant prices of 2008 14 3/4  BIS central bankers' speeches  14 CCISC (2011), The environmental, economic and social impacts of climate change in Greece, Bank of Greece,  p.454 available at www.bankofgreece.gr/BogEkdoseis/ClimateChange_FullReport_bm.pdf 15 at constant prices of 2008, over the period till 2100 16 total cumulative cost through 2100, at constant prices of 2008 17 the vulnerability assessment is presented on the CCISC (2015), National Climate Change Adaptation Strategy  (NCCAS), Bank of Greece, pp.