Key Insights from the Fed's Climate Scenario Analysis Report The Federal Reserve asked the top 6 banks in the US (Bank of America Corporation; Citigroup Inc.; The Goldman Sachs Group, Inc; JPMorgan Chase & Co.; Morgan Stanley; and Wells Fargo Company) to participate in a climate scenario analysis exercise to learn about their climate risk-management practices and challenges and to enhance their ability to identify, estimate, monitor, and manage climate-related financial risks. The participating banks used data from both internal and external sources, including First Street data, to respond. Read our guide for key takeaways from the Fed's report and learn how First Street models enable our partners to report on physical climate risk with confidence.
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Good summary of the Fed's Climate Scenario Analysis Report. In short, there remain significant gaps in the understanding of #climaterisk within some of the nation's most important financial systems. This stress test has created a tremendous opportunity for instituions to begin thinking through processes that are meaningful to both potential regulation reporting and business decisions making processes. Any viable solutions must rely on high resolution rigorous data, complete with industry specific value-added insights in order to fully evaluate, and report, on that risk.
Key Insights from the Fed's Climate Scenario Analysis Report The Federal Reserve asked the top 6 banks in the US (Bank of America Corporation; Citigroup Inc.; The Goldman Sachs Group, Inc; JPMorgan Chase & Co.; Morgan Stanley; and Wells Fargo Company) to participate in a climate scenario analysis exercise to learn about their climate risk-management practices and challenges and to enhance their ability to identify, estimate, monitor, and manage climate-related financial risks. The participating banks used data from both internal and external sources, including First Street data, to respond. Read our guide for key takeaways from the Fed's report and learn how First Street models enable our partners to report on physical climate risk with confidence.
What the Fed's Climate Scenario Analysis Report Tells us About Banks' Preparedness for Physical Climate Risks
firststreet.org
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Key takeaways from the Fed's Climate Scenario Analysis report released last week: * banks need to understand correlated risk across their CRE & RRE portfolios - under tail risk severe weather events * data enrichment - external providers can enhance property-level data * financial impact of climate risk - critical to translate into climate-adjusted PD & LGD Learn more in our guide!
Key Insights from the Fed's Climate Scenario Analysis Report The Federal Reserve asked the top 6 banks in the US (Bank of America Corporation; Citigroup Inc.; The Goldman Sachs Group, Inc; JPMorgan Chase & Co.; Morgan Stanley; and Wells Fargo Company) to participate in a climate scenario analysis exercise to learn about their climate risk-management practices and challenges and to enhance their ability to identify, estimate, monitor, and manage climate-related financial risks. The participating banks used data from both internal and external sources, including First Street data, to respond. Read our guide for key takeaways from the Fed's report and learn how First Street models enable our partners to report on physical climate risk with confidence.
What the Fed's Climate Scenario Analysis Report Tells us About Banks' Preparedness for Physical Climate Risks
firststreet.org
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The latest UNEP FI climate risk assessment reiterates four key enablers of a holistic and effective risk management approach to optimise the use of climate tools: · Accessibility across departments · Integration with existing solutions and metrics · Holistic risk evaluation · Capacity-building and internal tool development
Last year's 116-day streak of record-hitting temperatures highlights the urgency for financial institutions to address #climaterisks. Check out the latest Climate Risk Landscape Report — a comprehensive resource delving into the available tools for the #financesector to assess physical and transition climate risks. The report includes best practices, case studies, and recommendations to navigate the dynamic risk landscape. Read the full report: https://ow.ly/ix3r50RaxMB
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Last year's 116-day streak of record-hitting temperatures highlights the urgency for financial institutions to address #climaterisks. Check out the latest Climate Risk Landscape Report — a comprehensive resource delving into the available tools for the #financesector to assess physical and transition climate risks. The report includes best practices, case studies, and recommendations to navigate the dynamic risk landscape. Read the full report: https://ow.ly/ix3r50RaxMB
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How do global risks intersect with financial institutions, and what regulatory steps are major economies taking to address climate change? Financial institutions wield significant influence over economic activities, making them key players in steering the global economy toward sustainability amidst pressing global risks. A detailed answer from Climind can be found here: https://lnkd.in/ejW6uk6Q The World Economic Forum identifies critical global risks, from ecosystem collapse to cyber insecurity. Financial institutions, with their sway over economic activities, are instrumental in tackling these challenges, shaping sustainable practices, and bolstering resilience against climate impacts. Events like #COP28 signal progress toward a global consensus on climate action, highlighting the need for rapid transitions and increased funding. This underscores the imperative for financial institutions to adapt swiftly to heightened compliance requirements, aligning with evolving regulatory landscapes. Major economies, including the #EU and the USA, are implementing substantial regulatory changes to combat climate change. Directives such as the EU's corporate sustainability due diligence and the USA's commitment to climate action reflect a growing momentum toward transparent, accountable business practices globally. Editor: Rosita #ClimateAction #FinancialInstitutions #RegulatoryChanges #GlobalRisk #Sustainability #ESGDisclosure #EURegulations #USClimatePolicy #CorporateBehavior #Resilience
Last year's 116-day streak of record-hitting temperatures highlights the urgency for financial institutions to address #climaterisks. Check out the latest Climate Risk Landscape Report — a comprehensive resource delving into the available tools for the #financesector to assess physical and transition climate risks. The report includes best practices, case studies, and recommendations to navigate the dynamic risk landscape. Read the full report: https://ow.ly/ix3r50RaxMB
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Last year's 116-day streak of record-hitting temperatures highlights the urgency for financial institutions to address #climaterisks. Check out the latest Climate Risk Landscape Report — a comprehensive resource delving into the available tools for the #financesector to assess physical and transition climate risks. Including best practices, case studies, and recommendations to navigate the dynamic risk landscape. Read the full report: https://ow.ly/1fHg50Rg2uG
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With natural catastrophes increasing in severity and frequency, there is a clear need to raise understanding of the protection gap. Aon's Risk Capital CEO Andy Marcell sees an opportunity to create new pathways to alternative sources of capital as organizations navigate volatility and build climate resilience. Learn more about how to navigate these complexities and unlock the opportunities that exist in an increasingly interconnected world in our 2024 Client Trends Report: https://aon.io/49PXVxH #MegaTrends #ClientTrendsReport #ClimateChange #ProtectionGap
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The need for incorporating climate risk data into Federal Agency decisions is growing, and understanding its impacts on operations has become difficult. D&B Climate Risk Insights powered by Climate Engine provides a revolutionized way to measure and understand exposure to physical climate risks throughout your value chain - helping you make more vigilant decisions. Learn more here: https://bit.ly/4aLLvI7 #ESG #ClimateRisk #DunAndBradstreet #dod #gsa #dla #cdao #disa #governmentcontracting #ousd
Reduce Loss Exposure with Climate Risk Insights – Dun & Bradstreet
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#ClimateFinanceThursday | CPI is the leading source of climate finance tracking that covers public and private sources. This data is critical to scaling climate action where it is most needed. Here are 8 studies that provide new insights into the money flows in different regions and sectors. Learn more about our #tracking work: https://lnkd.in/dwgfiXW9 #climatefinance #financetracking #sustainableinvestment #financeforclimate #climateaction
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Navigating the Low-Carbon Economy: Mercer's Climate Scenario Analysis Discover how Mercer uses climate scenario analysis to predict the impact of transitioning to a low-carbon economy on asset returns and risk. Explore the difference between orderly and disorderly transitions and learn about the integration of climate risks by Ortec Finance. #MercerClimateAnalysis #LowCarbonEconomy #ClimateScenario #AssetReturns #RiskManagement #OrderlyTransition #DisorderlyTransition #OrtecFinance #ClimateRisks #FinancialScenarios
