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Q&A: The evolution of climate risk assessment
Prerna Divecha of S&P Global Market Intelligence discusses the changing requirements for financial institutions in developing a robust and comprehensive view of climate risk
Capturing and quantifying climate risk is a work in progress for financial institutions. But, with regulators worldwide – from the US Federal Reserve and the European Central Bank, to the Monetary Authority of Singapore – intensifying their focus within this area, regulated firms will need to develop a more robust approach to climate risk assessment.
A recent report from the Bank of England identified a number of areas for improvement in both the regulatory framework and in regulated firms’ capabilities for assessing climate risks. These included gaps in strategy, data, governance and scenario planning, and various inadequacies in capturing short and long-term risks effectively.
In this video Prerna Divecha, global lead, market strategy and development, climate-linked credit and risk solutions at S&P Global Market Intelligence, discusses some of the challenges facing financial firms in getting to grips with climate risk assessment.
Learn more about S&P Global Market Intelligence Climate Risk Insights
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