Authors
Christopher Bray (Barclays)
Dr Richenda Connell (Acclimatise)
Michelle Colley (Acclimatise)
Research organisations
Acclimatise
Barclays
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Adaptation: Credit Risk Impacts of a Changing Climate
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Document summary
Much of the debate around climate change focuses on greenhouse gas emissions and the business impacts of a carbon constrained economic arena. This report highlights the potential consequences to businesses of a changing climate, which to date, have not attracted the same level of attention.
The Acclimatise/Barclays report argues that this imbalance needs to be redressed, because regardless of the success and rate at which greenhouse gas emissions are controlled, some climate change is locked into the world's weather system over coming decades and these changes may represent material risks (or opportunities) to business. By implication these impacts may be valid considerations in the credit risk analysis undertaken by lending banks.
The aim of this paper is to demonstrate the nature of specific climate risks and opportunities in different types of business using a number of sectors as examples. Where there are concerns, the paper also provides some examples of potential mitigants, which may be available to businesses in addressing these risks.
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