Tag: Climate risk

A recent assessment by the European Central Bank (ECB) on the progress European banks are making in disclosure climate risks has revealed a lot more is yet to be done on this front.

Climate risk stress tests by the Hong Kong Monetary Authority (HKMA) have found climate risks could cause significant adverse impacts on the banking sector under extreme scenarios.

Taiwan’s Financial Supervisory Commission (FSC) has issued guidelines for banks and insurers on the climate risk disclosures they will be required to make from 2023 onwards.

The Basel Committee on Banking Supervision (BCBS) has issued a public consultation on the principles for the management and supervision of climate-related financial risks.

A BlackRock study has found that 95% of (re)insurance executives are concerned climate risk will have a significant impact on portfolio construction over the next two years.

Flood risk specialist Ambiental has extended its partnership with property data firm WhenFresh to offer the former’s FloodScore Climate data set on WhenFresh’s API.

New York-based InsurTech Arbol has launched Arbol Underwriters (AUL), which will be a company focused on offering reinsurance capacity for parametric insurance risks.

The Bank of England (BofE) has revealed it intends to crack down on banks and insurers who fail to hold enough capital to cover risks from climate change from next year.

Japan’s Financial Services Agency (FSA) has revealed it intends to make climate disclosures mandatory for large Japanese companies from April next year.

A climate stress test by the European Central Bank (ECB) has found firms based in areas most open to physical risk could see their creditworthiness impacted by climate change.