The 2023 climate risk landscape
The past few years have demonstrated a remarkable level of volatility. Efforts to establish a “new normal” after the COVID-19 pandemic were interrupted by the Russian invasion of Ukraine, and a wave of food and energy crisis. Central bankers have continued to raise interest rates to tame inflation, ending the “lower for longer” regime that has persisted since the Global Financial Crisis. Amid these changes, societies must contend with the worsening effects of human-caused climate change and the critical economic transition to a net-zero emissions future. The impacts of climate change and the necessary transition will impact almost every human and natural system. Successful companies and communities will be ones that are resilient in the face of these challenges. Developing cli
UNEP FI’s 2023 Climate Risk Landscape report aims to assist financial actors in better understanding this diverse and dynamic landscape of climate risk tools. The report explores the major market trends in both physical risk and transition risk tools and provides detailed analysis on dozens of individual tools. Some of the key findings found within the report are as follows:
- Greater integration of different climate risks within tools
- Focus on net-zero commitments within tools
- Rising regulatory demands are accelerating tool use and functionality
- New data and new insights are top priorities for financial institutions
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