Global Survey of Nature Risk Management
at Financial Firms
2024: A Discipline in Its Infancy
April 16, 2024
April 16, 2024
Nature loss has a profound impact on the economy and is a source of significant risk for financial institutions. Moreover, nature’s resilience is vital in the battle against climate change. With nature risk management in its very early stages there is still significant work that needs to be done.
To better understand how the risks and opportunities are being managed in today's economic landscape, GARP undertook its first-ever global study of nature-related financial risk management across financial firms. Surveying a total of 48 firms, GARP’s new report offers a useful snapshot of current risk management practices across the financial services industry, while also helping firms prioritize areas to improve upon along their nature risk journey.
About the authors
Jo Paisley, President, GARP Risk Institute, has worked on a variety of risk areas at GRI, including stress testing, operational resilience, model risk management, and climate and environmental risk. Her career prior to joining GARP spanned public and private sectors, including working as the Director of the Supervisory Risk Specialist Division within the Prudential Regulation Authority and as Global Head of Stress Testing at HSBC.
Dr Maxine Nelson, Senior Vice President, GARP Risk Institute, currently focuses on climate and environmental risk management. She has extensive experience in risk, capital, and regulations gained from a wide variety of roles across firms including Head of Capital Planning at HSBC. She also previously worked at the UK Financial Services Authority, where she was responsible for counterparty credit risk during the last financial crisis.
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