Climate X

Lost among all the climate-related regulations? Save days of research and download our "Operation Manual 2024: Climate Risk for the Banking Industry" today. The Manual explores how climate risks impact the banking industry - from portfolio management to regulatory obligations. What to expect: • Climate Risk 101 • Impacts on the Banking sector & industry learnings • Country-specific regulations, timelines and key actors in North America, Europe and APAC. If you're dealing with climate risk, this is for you. Free download at 👉 https://bit.ly/3TlNXyB #ClimateResilience #climatechange #climaterisk #finance #sustainability #innovation #physicalrisk

America's banks - particularly the smallest ones -are vulnerable to devastating losses due to climate-related weather disasters, with nearly 200 banks facing a collective $2.4 billion in potential losses. Small and regional banks are disproportionately exposed, but larger institutions are also at risk, with nearly one-third of regional banks and one-quarter of large banks facing significant climate-related threats. Many banks, especially smaller ones, are unaware of their climate risk exposure due to exemptions from financial reporting requirements, underscoring the need for proactive risk management and standardised reporting practices. Full article 👉 https://bit.ly/3XYVSV3 #ClimateRisk #Banks #PropertyMarket #Insurance #US

🌀🌧️ Hurricane Helene devastated the southeastern U.S., flooding over 100,000 buildings and causing an immediate $20 billion in damage and economic disruption. Yet, the real blow may lie ahead, with economic losses expected to surpass a staggering $100 billion. In this article, we analyse the role of climate change in intensifying Helene, the devastation in the aftermath and the potential long term financial consequences, likely to last for years. While human-caused climate change is creating stronger hurricanes, we argue that skyrocketing losses aren't inevitable — if appropriate action is taken. With the right strategies, communities and businesses can protect lives and mitigate damage to properties, infrastructure and economies in the face of increasingly powerful hurricanes. Curious how? Read our latest analysis now 👉https://bit.ly/3BsnI3j #hurricane #tropicalcyclone #hurricanehelene #riskmanagement #climaterisk #ClimateResilience #climatechange #climaterisk #finance #sustainability #innovation #physicalrisk #realestate

Phoenix tackles heatwave risks with state-led strategies. Yet, despite supports from state and private levels, its housing market faces long-term risks: better climate data is crucial for resilience. Our latest article explores how Phoenix’s real estate market can improve its resilience measures and effectively adapt to the increasing frequency and intensity of heatwaves. Read it now 👉 https://bit.ly/3N3tVFo #ClimateRisk #Heatwave #PropertyMarket #ClimateResilience #US

GARP experts propose climate resilience plan to tackle underestimated climate-related infrastructure risks. In a recent publication, the Global Association of Risk Professional (GARP) highlights that: • Current risk assessments are still inadequate: existing models fail to account for the broader consequences of extreme weather events on critical infrastructure, prioritising direct asset damage over indirect ripple effects. • Domino effect on economies: severe climate events can cripple essential infrastructure (water, energy, transportation), triggering widespread economic disruptions and straining business cash flows, particularly impacting loan repayment capabilities. • Comprehensive risk evaluation framework: xperts recommend a 6-step methodology to address indirect infrastructure failure consequences, encompassing critical infrastructure identification, vulnerability threshold modelling, economic disruption estimation, and portfolio integration among others. • Climate-resilient financial strategy: enhanced modelling enables financial institutions to proactively manage climate-related risks, provide favourable terms to resilient borrowers, and establish a competitive edge through tailored loan pricing strategies. Full article👉 https://bit.ly/3zDLFnR #ClimateRisk #PhysicalRisk #Infrastructure #Resilience #Adaptation

IFRS issues new guide for voluntary sustainability reporting. 📰 The IFRS Foundation's new guide helps companies meet investor demand for sustainability reporting including climate risks, specifically those operating in regions without ISSB regulatory obligations. As over 20 jurisdictions covering 55% of global GDP and half of global greenhouse gas emissions have committed to using or introducing ISSB standards, major investors like BlackRock and Vanguard have encouraged the adoption of the new guide. ISSB Chair Emmanuel Faber stated that “with many frameworks and standards now consolidated into the ISSB, the voluntary application guide helps companies navigate from their current reporting practices to applying ISSB Standards, providing a cost-effective route for companies to provide decision-useful, assurable financial information to investors." Full article 👉 https://bit.ly/3zpDtYp New guide 👉 https://bit.ly/3TMb8lU #ClimateRisk #SustainabilityReporting #Resilience #Adaptation

We’re excited to introduce Heidi M Hurst, our new Senior Software Engineer, who brings a wealth of experience from the worlds of climate tech and defence. 👉 Combining her deep expertise in machine learning, mathematics, and geospatial analysis, Heidi is set to make an impact to our climate risk SaaS products. Heidi will be tackling the challenge of building a scalable and robust platform for advanced risk analytics, leveraging her GIS expertise and engineering rigour to tackle some of the biggest challenges in climate risk. 🌍💡 Heidi, welcome to Climate X! 👏

Hamburg faces severe flood risks, potentially costing up to €9.3 billion by 2100 under extreme climate scenarios across Europe. Despite advancements like the HafenCity project, recent flood events and storm surges have exposed vulnerabilities, impacting local businesses and worsening the housing crisis. Our latest article examines the current flood risks in Hamburg, focusing on exploring HafenCity’s flood resilience, and presenting key considerations for businesses to enhance their climate risk management and avoid disruption. 👉 https://bit.ly/47z0LYs #ClimateRisk #FloodRiskManagement #ClimateResilience #Infrastructure #PropertyMarket #Germany

“We have a bridge crisis that is specifically tied to extreme weather events." 👉 Engineers warn that rising temperatures and flooding are putting significant stress on infrastructure, causing premature aging and collapse of bridges such as the Iowa-South Dakota link. Paul Chinowsky, University of Colorado Boulder’s civil engineering professor says, “we have a bridge crisis that is specifically tied to extreme weather events. […] These are not things that would happen under normal climate circumstances. These are not things that we’ve ever seen at this rate.” The Bipartisan Infrastructure Law’s PROTECT program allocates $7.3 billion to states for weather-resilient infrastructure and offers an additional $1.4 billion in competitive grants. Read the full article 👉https://nyti.ms/4e81Ecn #ClimateRisk #ExtremeHeat #Flood #Infrastructure #ClimateResilience #US

LCP consultancy firm calls out Liability-driven investment (LDI) managers to push the UK government to tackle climate risk to safeguard pensions. LCP's review of five key LDI managers revealed they engage with UK climate policy but have traditional, poorly disclosed strategies and governance frameworks. Julian Thakar from LCP highlighted that gilt stewardship could help tackle systemic risks like climate change, despite past misconceptions, and encouraged schemes with LDI mandates to urge their managers to improve climate policy engagement. Full article 👉 https://bit.ly/4goEGQi #ClimateRisk #AssetManagement #Pension #UK