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It's not easy being green

Environmental risk threatens to seep into and across the risk profile of financial services firms. In the first of a three-part series, Victoria Pennington explores green issues in credit and market risk

The fallout from the subprime crisis permeated - and travelled across - all risk types. From the seeds of operational risk failures in underwriting processes, problems migrated to credit and market risk in the collateralised debt market, and ultimately reputations were damaged once the scale of the losses was announced. The risks posed by environmental issues and climate change are similar in

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