Dear John,
The physical impacts of the climate crisis haven’t been more obvious. This summer has seen historic climate devastation—from severe flooding and drought, to unprecedented wildfires and heatwaves, and back-to-back hurricanes ravaging coastlines. These extreme weather events are more and more frequent and costing dozens of lives and tens of billions of dollars in damages. But there is a way to mitigate both the physical impacts and the economic costs of the climate crisis.
A new report released by the Ceres Accelerator for Sustainable Capital Markets reveals that the physical impacts of climate change could amount to more than a $250 billion risk annually for the largest U.S. banks. |
| The Ceres Accelerator report, Financing a Net Zero Economy: The Consequences of Physical Climate Risk for Banks
highlights these risks and provides valuable insights to help banks realize and mitigate the systemic financial implications of physical risk. The report sets out a practical roadmap to help banks conduct risk assessments and incorporate climate risks into their day-to-day decision-making. It includes detailed recommendations across four broad categories to guide the banking industry in fully measuring, analyzing, and acting against threats posed by the physical risks of climate change. |
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| Download the report and then be sure to
join me for a webinar on Tuesday, September 14th
to discuss the report findings and recommendations with a former Senior Deputy Comptroller of the Currency and the Head of Financial Risk at Regions Bank. |
In addition to addressing climate risk with the largest banks in the U.S., Ceres is working with several financial regulators, including the Federal Reserve, the U.S. Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the National Credit Union Administration, to address their responses to climate risk.
I hope you’ll download our most recent report and help us spread the word about how U.S. banks can help solve the climate crisis.
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Thank you,
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Dan Saccardi,
Senior Director,
Company Network,
Ceres
@dsaccardi | |
