Friday, November 13, 2015
originally posted on opencanada.org
The Governor of the Bank of England Mark Carney recently delivered a well-received speech in London, U.K., to a community of financial sector representatives emphasizing the impact that climate change could have on financial sector stability.
The impact could be threefold. The first type of risk is direct — the increasing frequency of extreme weather events such as floods could have impacts on the insurance sector in particular, which will have to pay for the damage to insured property caused by these events.