Climate change is triggering an “epistemological break” in the way investors think about risk, the Bank for International Settlements’ Luiz Pereira da Silva said in recent remarks.

Quoting the French philosopher of science Gaston Bachelard, da Silva compared climate change to other “discontinuous jumps” in the history of thought, when new evidence triggered rapid shifts in knowledge.

The deputy general manager said investors are increasingly realising that climate change risks previously