Ian Simm, founder and CEO of Impax Asset Management, says investors redoubling their focus on climate-related risks and opportunities will be rewardedCardigans, I’m reliably told, are back in fashion. Ambitious national climate commitments and corporate targets are being scaled back, and there is a troubling resurgence of climate denialism. Although the climate backlash is dominating the current narrative, the trajectory of the transition will be shaped primarily by longer-term fundamentals, particularly economics. Against this backdrop, asset owners should position themselves to navigate the transition through four overarching actions:First, by sharpening their evaluation of climate-related opportunities and risks at both the asset and portfolio levels. Second, by pursuing the long-term investment opportunities associated with the climate response, particularly at a time of depressed asset prices.