How the Insurance Industry Can Inform and Assist Bank Climate Risk Management

Richard Webley, Head of Global Data Insights at Citi, describes current climate risk management efforts at banks—regarding data and other respects—as “the start of a long journey.”

As they try to get a handle on incorporating climate risk into their risk management frameworks, a source that could be instructive is the insurance industry

“The insurance industry has had a long history of managing climate risk,” said Derrick Oracki, Financial Industry Risk Consulting L…