European banks are failing to assess climate risk properly in their loan books, according to the European Central Bank’s stress test.
In fact, only four in ten banks have a climate risk stress-testing framework. Most banks said they Read more
Earlier this year, storms Malik, Corrie, Dudley and Eunice, and the crisis in Ukraine demonstrated the weakness of the UK’s centralised energy supply. The UK’s infrastructure needs to be more environmentally sustainable to increase operational resilience to inevitable future Read more
The UK Government’s third climate report urged more action in eight key risk areas. In its most recent five-year assessment,
it said even low warming scenarios could cost £1 billion per year to the economy.
“The UK will be Read more
European banks have failed a climate change risk test in first survey of the sector by the regulator European Central Bank.
Risk management at none of the banks was “close to aligning their practices with the supervisory expectations,” ECB Read more
This is the first time the IRM has published a guidance report focused solely on climate change for risk managers. This marks an important formal recognition of the importance of Environmental, Social and Governance (ESG) issues to global business Read more
Countries must plan and implement radical changes to their production and trade processes, according to the World Economic Forum (WEF). That’s because as as extreme weather events become more frequent, traditional ways of working could fail.
Taking action could Read more
Having warned of the risk of a global “lethal flu” back in 2006, this year’s Global risks report 2021 focuses on the further risks and consequences of today’s pandemic. In particular, the report’s authors – World Economic Forum – Read more
The UK government’s climate change white paper sets out how the country will seek to mitigate the risk of increasingly adverse weather and build a net-zero economy.
The document – Energy white paper: powering our net zero future – Read more