Banks and insurance companies are not immune from the effects and associated response toward the growing awareness of addressing climate change. Based on the critical role financial institutions play in the global economy, their complex operations reach across affected industries and global boundaries. Federal regulators around the world constantly need to balance the emerging trends of addressing climate-related risks with a responsibility to manage “the safety and soundness of the financial system” on behalf of the citizens in their jurisdiction.

In this whitepaper, we look at a variety of Canada’s climate risk management guidelines and associated risks.