IMPACTS OF CLIMATE CHANGE ON FINANCIAL INSTITUTIONS' MEDIUM- TO LONG-TERM ASSETS AND LIABILITIES
14 June 2005
Perroy, Louis
Synopsis
It is now recognized that human induced climate change will have a significant impact on world economies.
Experts and scientists expect that this impact could affect most areas of the financial services sector, including insurance companies, banks and pension funds, to the extent that they may suffer significantly on both sides of their balance sheet.
The aim of this SIAS paper is to provide a background and an understanding of the likely impact of climate change on the assets and liabilities of financial institutions. It attempts to assess the extent to which actuaries should consider incorporating climate change into their work.
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