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Climate change is one of the greatest challenge society has ever faced, with increasingly severe consequences for humanity. Climate change also creates risks to both the safety and soundness of the individual firms and to the stability of the financial system. This will be felt both in the cost of direct losses to climate events, as well as the expense of adapting businesses to the new climate policies that will have to be met.
The aims of this project are to:
• Research climate modelling techniques, with a particular focus on mapping climatology to macro-economic indicators
• Develop models and estimate the impact of climate changes on financial institutions
• Measure and evaluate the short and long term risks through scenario analysis and stress testing.
Matheus Grasselli
Yifan Wang
Ernest & Young s.r.l.
Statistics / Actuarial sciences
Finance, insurance and business
McMaster University
Accelerate
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