Didier Marti/Getty Images Across New Zealand and Australia, the impacts of a warming climate have been slowly changing how investors weigh up risk and returns. Both countries have been experiencing more extreme events such as floods and bushfires, all while policy shifts and rising carbon prices increase pressure on firms to adapt. As these risks grow more visible, investors are increasingly interested less in how well a fund has previously performed, and more in how likely it is to hold up in a