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Article name & author

Navigating a new climate: Assessing credit risk and opportunity in a changing climate – Outputs of a working group of 16 banks piloting the TCFD Recommendations

Author: UNEP FI, Acclimatise

Industry Group: Banks

Research / Insights - 2018

Sixteen leading banks convened by the UN Environment Finance Initiative (UNEP FI) and supported by climate risk advisory firm Acclimatise, have released new methodologies that aim to help the banking industry to understand and manage the physical risks and opportunities of climate change in their loan portfolios. The methodologies, published in this report, support the implementation of the recommendations of the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosures (TCFD). Using the methodologies banks can begin to assess physical climate risks on key credit risk metrics for climate-sensitive industry sectors. The guidance also sets out how banks can start to evaluate opportunities to support their clients in becoming more climate-resilient. The methodologies, which were piloted for agriculture, energy and real estate portfolios, can be used by banks to assess a wide range of sectors in their loan portfolios.

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Keywords: Acute risk, Chronic risk, Financial impacts, Physical risks
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