Challenges | Climate Change Risk

As the severity and global impact of climate change rapidly keeps accelerating, the potential disruption and risk to financial and non-financial sectors have come to the forefront. Companies can no longer ignore this growing risk.

With the growing recognition of the financial stakes, rising external pressures, and upcoming regulations, how should firms and specifically their risk management teams manage climate risks? 

Firms now have to see climate change as a financial risk and no longer just a reputational risk.

Recently, the Bank of England released a Supervisory Statement which outlines how they expect banks and insurers to ramp up their financial risk response to climate change.