CASE STUDY 4.1: Test case for datasets and information for managing climate risk in the Australian banking and finance sector
The release of the Financial Stability Board Taskforce on Climate-related Financial Disclosures report in 2017 and the Australian Prudential Regulation Authority’s Australia’s New Horizon: Climate Change Challenges and Prudential Risk statement significantly raised the awareness of climate change risk in corporate Australia. Such guidance has highlighted the pressing need for the Australian banking and finance sector (banks, insurance, actuaries, etc.) to assess what physical climate change risk typically means for their business. However, existing projections data and information are not tailored to the specific needs of this sector.
We’re identifying the science-based climate change data and information needs of the sector and examining options for tailoring projections and other products and services for the Australian banking and finance sector.
Commenced: January 2018
More information: Dr Geoff Gooley, ESCC Hub Program Manager
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