4 mins watch time
July 2022 Horizon scanning
As the regulatory drumbeat around climate risk preparedness grows louder, financial institutions are scrambling to keep pace. The challenge: all of this is new. Best practice is still evolving. The broader operational impacts of climate change can be hard to quantify. Against this fast-moving backdrop, risk managers are trying to cut through noise and ensure their institutions are on track with their climate risk response. For this third part in our climate risk series, we’ve been talking to senior risk professionals at various events, roundtables and customer advisory boards over the past few months to better understand the key issues that are impacting financial institutions as they seek to improve their climate risk management.
Here are four common themes that risk managers have identified:
For more information on climate-related risk management, click here. Stay tuned next month for the fourth part in our climate risk series looking at how the financial industry is responding to the climate challenge six months on from COP26.