Climate risk is changing where banks lend – before disaster strikes
As a finance researcher at the UNSW Sydney Business School, and Senior Deputy Director of the UNSW Institute for Climate Risk & Response, A/Prof. Romero Cortes says climate change is increasingly a financial problem.
She is the co-author of a new study, suggesting banks are adjusting their behaviour in anticipation of physical climate risk, before storms, floods or fires translate into financial losses.
“The finance side of climate risk isn’t just ‘disaster happens, then bank suffers’,” A/Prof. Romero Cortes says.