The Monticello team attended GARP’s Physical Risk Assessment: Technical Deep Dive and Regulatory Outlook webinar last week. This informative event highlighted the key inputs and outputs of a successful physical risk assessment across multiple asset types in different countries around globe. Attendees discussed complexities of interconnected risk as risk managers conduct physical risk assessments across different climate change hazards such as extreme heat, soil movement, and forest fires to name a few. In addition, the presenters discussed the current regulatory expectations for the assessment and disclosure of physical risks, and how they could evolve moving forward. Organizations such as the Task Force on Climate Related Financial Disclosures (TCFD) are vital to providing a framework which helps organizations disclose climate related risks, which promote informed investment, credit, and insurance underwriting decisions.
At Monticello, our consultants continue to participate in industry conferences and events to ensure our clients are advised on emerging trends and risks their organizations may face. We look forward to working with our clients to support their climate risk reporting initiatives in 2022 and beyond.
