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Climate. Risks. Matter.

2020 heaped misery upon misery. But from beneath the weight of global pandemic, racial injustice, political animosity, and democratic instability, strong, heartening signals delivered an unequivocal message: Climate. Risks. Matter. Climate risks have mattered to many for forty years. In 2020, Big Finance joined its powerful voice.In January 2020, the World Economic Forum, alongside Marsh…

Economist_Investors_Pay_Attention_to_Water_Risk

An Expanding Pool–Investors Start To Pay Attention To Water Risk: The Economist

"At current rates of consumption, the demand for water worldwide will be 40% greater than its supply by 2030, according to the UN. Portfolio managers are realising that physical, reputational and regulatory water risk could hurt their investments, particularly in thirsty industries such as food, mining, textiles and utilities. One worry is that shocks to…

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Protecting Low-Income Communities Through Climate Insurance: InsuResilience Investment Fund

"Poor and vulnerable people in developing countries are hit hardest by climate change, whilst being least prepared to cope with its consequences. Climate risk financing and insurance is an effective and reliable way to reduce the vulnerabilities of individuals to climate shocks, enabling them to better absorb and recover from the financial burden of extreme…

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U.K.’s Experiment With Climate Reporting Is Worth Watching: WSJ

“Companies [in the U.K.] and money managers face new environmental requirements that could bring write-downs but also clarity on risks. From next year, many U.K. companies and funds will have to report how their assets and organizations will affect and be affected by global warming. The new rules...are in line with 2017 recommendations from the…

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Slower Decay of Landfalling Hurricanes in a Warming World: Nature

"Over the past 50 years the [time on land of] North Atlantic landfalling hurricanes has increased by 94%. This increase is primarily fuelled by the enhanced stock of storm moisture supplied by warmer oceans. [These] findings have direct implications for the damage inflicted by landfalling hurricanes in a warming world. Even when the intensity at…

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Warming May Make Hurricanes Weaken More Slowly After Landfall: NY Times

"New research suggests that climate change may be causing storms to retain destructive power for longer after moving inland. 50 years ago a typical storm would have lost more than three-quarters of its intensity in the first 24 hours, when it might travel several hundred miles inland, now it would only lose about half. The…

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A Roadmap Towards Mandatory Climate-Related Disclosures: HM Treasury

"The Roadmap sets out an indicative path towards mandatory climate-related disclosures across the UK economy aligned with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD). The ambitious but proportionate strategy presented in the Roadmap will help ensure that the right information on climate-related risks and opportunities is available across the investment chain –…

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Guidance on Scenario Analysis for Non-Financial Companies: Task Force on Climate-Related Financial Disclosures

"Climate change is spawning a host of long-term and short-term effects that affect businesses broadly and fundamentally. The World Economic Forum ranks climate risks among the top five business risks, saying “climate change is striking harder and more rapidly than many expected. Companies will be affected by climate change across multiple dimensions (strategic, operational, reputational,…

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The Implications of Climate Change for Financial Stability, Nov. 2020: Board of Governors of the Federal Reserve System

"Climate change adds a layer of economic uncertainty and risk that we have only begun to incorporate into our analysis of financial stability. Different sectors of the economy and geographic regions face different risks that will diverge from historical patterns.""Acute hazards, such as storms, floods, droughts, or wildfires, can quickly alter, or reveal new information…

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Living In Harm’s Way – Why Most Flood Risk Is Not Disclosed: NPR

"Most Americans receive little or no information about flood risk before they buy a house, leading millions to put their safety, belongings and financial security in harm's way. A growing body of research suggests that the lack of transparency and growing flood risk due to climate change are leading millions of Americans to put their…