Mitigation of climate risks calls for new perspectives and cooperation
Nykänen, Marja (28.10.2019)
Julkaisija
Bank of Finland
2019
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:bof-201910291547Tiivistelmä
Assessing, modelling and pricing of risks is among the core activities of financial sector companies. The realisation of risks is always subject to uncertainty: the longer the time horizon for risk realisation, the harder it is to identify the risks and estimate their impacts. Financial sector participants are used to living with this uncertainty.
Assessing the risks and costs arising from climate change – its effects, mitigation and, in the worst case, failure to mitigate – presents a major challenge for financial sector participants. Central banks and supervisors are no exception in this respect.
Assessing the risks and costs arising from climate change – its effects, mitigation and, in the worst case, failure to mitigate – presents a major challenge for financial sector participants. Central banks and supervisors are no exception in this respect.