Macro Learnings about Climate-related Credit Losses

Macro Learnings about Climate-related Credit Losses

In this video collaboration between the MMF, Grant Thornton and Finance and Sustainability Unlocked, Tony Hughes, expert risk modeller and data scientist outlines the impact of climate change on the financial system. Tony explores the risk that climate change poses to bank safety by comparing the evidence from the ECB and CBES around counterparty probabilities for default. Tony weighs up evidence at the macro-level for why climate change has so far not had a significant impact on the financial system.
Overview

Tony Hughes, expert risk modeller and data scientist presents his argument for why climate change has so far had a limited impact on the financial system. Tony references stress tests from both the ECB and CBES that corroborate that the global financial crisis had a more immediate and severe impact than climate change has had, to date.

Key learning objectives:

  • Analyse the current and projected impact of climate change on the financial system

  • Explore the macro-level evidence for the impact of climate change on the financial system

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