The global economy is already experiencing climate-driven inflation that will contribute to stubbornly high price rises and a long period of low investment returns, according to the head of Norway’s $1.3tn oil fund.
“Inflation is going to be tough to get down,” Nicolai Tangen, chief executive of the world’s largest sovereign wealth fund, said in an interview with the Financial Times on Tuesday.
Labour costs are already leaking into global price rises, but “we are seeing a…
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