Rethinking risk

As this issue of Environmental Finance went to press on 21 August, the world's investors seemed to be holding their breath. The US Fed's move at the end of the previous week, cutting its discount rate by 0.5 percentage points, had, for the time being at least, put the brakes on stock market slides. But, with continuing anxiety in the credit markets, the consensus is that more volatility is around the corner.

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