[MCN] Banks unprepared for climate risks, but beginning to work on it

[Lance Olsen]

REUTERS  JULY 11, 2017 / 10:28 AM 
Banks worth $7 trillion pledge to calculate costs of climate risks
Chris Arsenault <https://uk.reuters.com/journalists/chris-arsenault> 

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TORONTO, July 11 (Thomson Reuters Foundation) - Eleven of the world's biggest banks pledged on Tuesday to find out how much exposure they have to risks related to climate-change, a move backed by environmentalists who say better information on the costs of global warming will push lenders to transition towards green investments.

With more than $7 trillion under management, some of the biggest names in global finance have signed onto the United Nations-backed disclosure effort for information on new risks presented by climate change.

Information on banks' climate risks could eventually be reviewed by regulators as part of their financial disclosures, said Simone Dettling, a researcher with the U.N. Environment Programme working on the transparency plan. 

https://uk.reuters.com/article/un-climatechange-resilience-idUKL8N1K23V2 <https://uk.reuters.com/article/un-climatechange-resilience-idUKL8N1K23V2>
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“ Ecosystem management must avoid two traps: falsely assuming a tame solution and inaction from overwhelming complexity. “

Ruth DeFries, Harini Nagendra. Ecosystem management as a wicked problem. Science  21 Apr 2017 Special Issue: Ecosystem Earth

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Behind complexity, there is always simplicity to be revealed. Inside simplicity, there is always complexity to be discovered.”

Gang Yu

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