Policy Briefs
Green Policy Brief: The Impact of Climate-Related Risks on Financial Sector
The Intergovernmental Panel on Climate Change made the conclusion that human activity has brought about the rise of global temperature to 1.0°C above pre-industrial levels, contributing to increase in frequency and intensity of some types of extreme weather events. In Belarus, according to hydrometeorological observations, the average annual temperature for 1989-2019 was 1.3 ºС higher than the climatic norm. Global warming, as well as the response to the threats it poses, will increasingly influence economic development and financial markets. In this regard, in order not to face the problem of the " tragedy of the horizon ", financial organizations of an increasing number of countries have started to take climate risks into account within their business strategies and integrate them into risk management. These risks are divided into two groups: physical risks and transition risks.
This Policy Brief is available only in Russian.
