Climate Risk

Risk Management Association, Top U.S. and Canadian Banks Form Consortium to Tackle Climate Risk

Consortium Establishes Needed Risk Management Practices
Press Release

PHILADELPHIA, January 12, 2022 /3BL Media/ - The Risk Management Association (RMA) announced today that 19 leading banks have formed the RMA Climate Risk Consortium (“The Consortium”), which will develop standards for banks to integrate climate risk management throughout their operations, preparing the industry to help economies transition to a low-carbon future.

Ceres Issues Recommendations to Federal Financial Regulators That Would Help Combat Climate Risk Facing Banks in the U.S.

Press Release

January 6, 2022 /3BL Media/ - Ceres issued more than a dozen recommendations for actions federal financial regulatory agencies should take to address the financial risk that climate change places on our nation’s banking system.

Ceres Applauds and Welcomes the OCC's Recent Call for Public Comment on Their Proposed "Principles for Climate-Related Financial Risk Management for Large Banks.”

Press Release

December 17, 2021 /3BL Media/ -

“The Office of the Comptroller of the Currency (OCC) is taking important steps to support the stability of banks to address the rapidly growing climate risk. As the OCC makes clear, these principles provide a vital initial step towards urgently needed supervisory guidance to protect the safety and soundness of banks, our broader financial markets and our nation,” said Steven M. Rothstein, Managing Director of the Ceres Accelerator for Sustainable Capital Markets at Ceres.

Support Company Leaders in Understanding Climate Risk and Climate Justice

As companies navigate climate risk and advance a net-zero economy, company leaders urgently need to build climate change, climate risk, and climate justice capabilities.
Press Release

November 18, 2021 /3BL Media/ - The message from COP26 is clear, we need to transition to a net-zero economy. Business leaders have a key role to play in ensuring their companies support a just transition.

PUBLIC BENEFIT RESEARCH PROJECT OFFERS FREE CLIMATE RESOURCES

In New Reports, Banks Are Coalescing Around a Blueprint for Climate Action

Blog

A shift is happening in the banking world. During just the past month, two new reports were released that were notable not just for their recommendations urging banks to get serious about implementing their commitments to ending financing of climate pollution and shifting to a clean economy, but for who produced the reports – some of the biggest names in the banking industry. 

Risky Business: Sustainability Is Central to Mitigating Risk

By Lany Harijanti, ASEAN Regional Program Manager, GRI
Article

The COVID-19 pandemic has undoubtedly caused the largest economic and societal shock the world has experienced this century. Yet it was not unforeseen. As far back as 2006, the annual Global Risks Report from the World Economic Forum warned that a pandemic was an ‘acute threat’ across all industries globally. This year’s WEF report expands into new dimensions of risk, such as the consequences of digital inequality and cybersecurity failure.

TCFD Framework Is a Key Tool for Insurance Climate Risk Management and Disclosure

Blog

As society’s risk manager, the insurance industry has a long history of embracing practices that protect people and society from systemic threats, but as climate threats have ramped up dramatically, most insurers have been slow to adjust their business practices to reduce exposure to climate risks and help policyholders and governments to reduce their exposure.

Fifth Third Appoints Michele Mullins Climate Risk Officer; Role Reflects Bank's Commitment to Managing Climate Change Risk

Press Release

CINCINNATI, September 24, 2021 /3BL Media/ - Fifth Third Bank, National Association, today announced the appointment of Michele Mullins as the Company’s first climate risk officer. The role expands Mullins’ duties as director of enterprise risk governance and business support, and reflects the Bank’s commitment to environmental sustainability leadership.

The Climate Crisis Must Be Priority for Financial Regulators

Blog

By Steven Rothstein, Managing Director of the Ceres Accelerator for Sustainable Capital Markets

Central banks around the world are responsible for ensuring economic and financial stability. So why would some of them minimize perhaps the most significant threat to the future of our society and its financial markets – climate change?

Investors, Companies, Organizations Call on U.S. Securities and Exchange Commission to Mandate Corporate Climate Disclosure

180 investors with nearly $2.7 trillion in assets under management seek to protect the economy from climate risk
Press Release

June 10, 2021 /3BL Media/ - During this week’s anniversary of the founding of the U.S. Securities and Exchange Commission (SEC), 180 investors with nearly $2.7 trillion in assets under management joined 155 companies and 58 nonprofit organizations calling on the regulatory agency to fulfill its mission to protect investors from risks including the systemic and financial risks associated with the climate crisis.

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