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Business risk and the emergence of climate analytics

Author

Listed:
  • Tanya Fiedler

    (Discipline of Accounting, University of Sydney Business School, University of Sydney)

  • Andy J. Pitman

    (ARC Centre of Excellences for Climate Extremes and Climate Change Research Centre, UNSW)

  • Kate Mackenzie
  • Nick Wood

    (Climate Policy Research)

  • Christian Jakob

    (ARC Centre of Excellences for Climate Extremes and School of Earth, Atmosphere, and Environment, Monash University)

  • Sarah E. Perkins-Kirkpatrick

    (ARC Centre of Excellences for Climate Extremes and Climate Change Research Centre, UNSW)

Abstract

Emerging awareness of climate-related financial risk has prompted efforts to integrate knowledge of climate change risks into financial decision-making and disclosures. Assessment of future climate risk requires knowledge of how the climate will change on time and spatial scales that vary between business entities. The rules by which climate science can be used appropriately to inform assessments of how climate change will impact financial risk have not yet been developed. In this Perspective, we summarize the demands by the business and finance community for reliable climate information, and the potential and limitations of such information in the context of what climate models can and cannot currently provide.

Suggested Citation

  • Tanya Fiedler & Andy J. Pitman & Kate Mackenzie & Nick Wood & Christian Jakob & Sarah E. Perkins-Kirkpatrick, 2021. "Business risk and the emergence of climate analytics," Nature Climate Change, Nature, vol. 11(2), pages 87-94, February.
    • Handle: RePEc:nat:natcli:v:11:y:2021:i:2:d:10.1038_s41558-020-00984-6
    DOI: 10.1038/s41558-020-00984-6
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