Fed Chair comments on “manageable” climate risks, conflicting with recent CSA findings on uncertainty and measurement difficulties for large banks. Fed Chair Powell testimony last July before the House Financial Services Committee revealed the Fed’s lack of awareness regarding the systemic importance and unique nature of climate risk. Powell suggested that climate risk is manageable for banks under the Fed’s supervision. However, this stance overlooks the recent results of the Fed's own pilot climate scenario analysis, which found that climate risks for large banks are highly uncertain and difficult to measure, due to significant data and modelling challenges. Full article 👉 https://bit.ly/3WU0rP2 #ClimateRisk #US #Fed #Regulation
Climate X
Climate Data and Analytics
Unlocking the power of climate data and analytics globally to build a better future for our planet.
About us
We help our customers, with combined >$trillions balance sheet/AUM, price and manage physical climate risks through our multi-award winning software platform and APIs. Our rapidly growing customer base includes some of the world's largest banks, asset managers and consulting groups. Learn more on our website or by contacting us via [email protected] today.
- Website
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https://www.climate-x.com
External link for Climate X
- Industry
- Climate Data and Analytics
- Company size
- 51-200 employees
- Headquarters
- London
- Type
- Privately Held
- Founded
- 2020
- Specialties
- Climate Risk Data, Climate Risk Reporting, Climate Resilience, Climate Risk Assessments, Climate Adaptation, and CSRD / EU Taxonomy
Locations
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Primary
21 Great Winchester Street
First Floor
London, EC2N 2JA, GB
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Rockefeller Center 1270 Ave of the Americas
7th Floor
New York, NY 10020, US
Employees at Climate X
Updates
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Research reveals that polluting European firms are paying higher interest rates compared to greener companies, as banks start to price in climate risks. The Dutch Central Bank findings align with European Central Bank research, which shows eurozone banks charge firms without emissions reduction targets monthly interest rates that are 20 basis points higher compared to those with targets. The research also indicates that European financial markets are incorporating climate risks, creating strong incentives for companies to decarbonise and develop clear transition plans. Full article 👉 https://bit.ly/4cACWjC #ClimateRisk #Banking #Finance #RiskPremium #Europe
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🌎 Our latest research on the climate risks facing UNESCO World Heritage Sites has gained global attention, featured in over 35 media outlets. 🏛️ Accurate insights are crucial in protecting these irreplaceable sites all around the world and ensuring informed action is taken. We're proud to contribute to this essential conversation and grateful to our media partners for spreading the word. #ClimateRisk #WorldHeritage #UNESCO #DataDriven #ClimateChange #GlobalImpact
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🚨 New NGFS report examines how severe physical risk affect the economy. Key Takeaways: • The report highlights direct impact of physical risk factors on economic supply, demand, and financial factors with a focus on the prices of asset, and credit conditions and volume. • Central banks face more persistent macroeconomic effects, which are likely to channel through domestic and international avenues, making such risks difficult to identify. • The NGFS is looking to publish further report analysing macrocroeconomics of climate change and monetary policy Read more here 👉https://bit.ly/4dZBQPy #ClimateRisk #PhysicalRisk #Finance #NGFS #IPCC #UNEPFI
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The City of London is investing £68mn in climate action from 2020 to 2027, upgrading infrastructure and adapting to extreme weather. However, experts worry it won't be sufficient if poorer boroughs can’t keep up and if existing buildings aren’t suited for a warming climate. 🌊 The Thames Estuary 2100 project, the UK's largest flood risk program, alone is expected to amount to £16.2bn by 2100. 🎤 Bob Ward of the London Climate Ready Partnership praised the City of London as a climate leader but stressed it must also encourage other boroughs to take action to prevent greater suffering elsewhere. Full article 👉 https://on.ft.com/4fXRU6q #ClimateRisk #FloodRisk #ClimateResilience #Infrastructure #UK
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SEC insists it has the power to enforce contested rules imposing public companies disclosure of climate risks exposure and greenhouse gas emissions. 💼 The US Securities and Exchange Commission (SEC) argues the 1933 Securities Act and 1934 Securities Exchange Act gives it the authority to require such disclosures, so that investors can make informed decisions. The court is yet to accept this argument. Full article 👉 https://bit.ly/3yOqHSK #ClimateDisclosure #ClimateRisk #Finance #ClimateRegulation #US
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Join our team and EG at London Real Estate Forum to learn the impact of climate change on the built environment and the future of urban planning 🏗 📍 Guildhall, City of London ⏰ 25th September, 1 pm 👉 Sign up here: https://lnkd.in/dbyw_jDM #londonrealestateforum
Shaping the cities of tomorrow: A lunch & learn with Climate X We are pleased to announce that Climate X's Dr. Navjit Sagoo, and Stéphanie D. Handjiiska, will be bringing their expertise on climate change to discuss how it will influence future city planning. They will explore the importance of adapting our buildings and infrastructure to meet the challenges posed by global warming. Join us for this insightful lunch and learn session to understand the potential future of our cities. RSVP here: https://bit.ly/3WpWbYr Climate X JLL NLA #EGatLREF #LREF2024 #FutureofLondon #FutureofCities #LondonRealEstateForum
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Dr. Nick Leach, a Climate Scientist at Climate X and postdoctoral researcher at Oxford University, warns: "The Atlantic hurricane season is going to expand. [...] We might see very intense hurricanes earlier in the season and also later". Longer seasons mean greater risks for coastal communities, stressing resources and raising the chances of catastrophic damage. We need to adapt quickly by strengthening infrastructure, disaster response, and community readiness. Read the full article and listen to the interview 👉 https://bit.ly/3Ts7uO3 #ClimateChange #HurricaneSeason #Sustainability #DisasterPreparedness
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In a recent publication, The ECB identifies frequent challenges observed during an on-site inspection campaign on commercial real estate exposures and highlights best practices that banks can adopt to improve collateral valuations in their CRE portfolios. Banks commonly face two main challenges in assessing their environmental and climate-related risks: 1️⃣ Insufficient data collection on climate risks and energy efficiency for CRE assets; 2️⃣ Inadequate inclusion of capital expenditure needed to improve energy efficiency to an acceptable standard. The European supervisor suggests lenders should ensure valuers gather data on environmental factors, including energy performance, pollution, and climate risks as outlined in the International Valuation Standards (IVS). Full article 👉 https://bit.ly/4fTdCby #CREValuation #ClimateRisk #Banks #EU #PropertyMarket
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Financial institutions may be underestimating investor losses from physical climate risk by up to 70%, when they overlook asset-level information. • Underestimating climate physical risks results in insufficient investment in adaptation and mitigation efforts. In turn, this delay in climate action subsequently causes greater socio-economic losses and elevates overall risks. • Using Mexico as a case study, researchers found that traditional firm-level assessments underestimate risk by 70%. When considering acute tail risks like cyclones or floods, this underestimation rises to 82%. • To overcome these limitations, researchers have created a methodology that can be tailored to various countries to bridge the climate adaptation gap – an approach that also incorporates both historical data and future climate scenarios. Full Article 👉 https://bit.ly/46LJ9rO Research Report 👉 https://lnkd.in/evXExChB #ClimateRisk #PhysicalRisk #ClimateAdaptation #Finance
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