Really pleased to see my editorial in today’s Financial Times Sustainable Views. This piece was written in collaboration with Dee Korab, expert in sustainable finance.
The full article can be found via this link -> Putting banks and insurers on notice to better manage climate risks
In the piece, we pick up on the UK’s Prudential Regulation Authority putting banks and insurers on notice to review their assessments of climate risk. We make the case that the current gaps represent more than just a compliance issue, they pose a systemic financial risk.
Just looking at real estate, this is significant. Real is immovable and as such, assets are very directly exposed to events such as rising sea levels, fire and flooding. This makes climate risk particularly acute for banks and insurers’ real estate portfolios. The window of opportunity to act is closing fast.
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