Financial Consequences of Physical Climate Risks

Dr Karl Mallon is a founder of The Climate Risk Group which includes companies XDI and Climate Valuation. His team of scientists and engineers is behind much of the data people see in the public about the impacts of climate change in Australia: from analysis by the RBA to reports on insurance affordability on the ABC. XDI has twice been ranked as the world leader in physical risk analysis in 2025, and works with over 100 banks and asset managers around the world on risk quantification and adaptation.

With a background in both Physics and Mechanical Engineering, Karl has worked in climate change mitigation, policy and technical analysis since 1991, and has specialised in climate adaptation since 2005. His team’s pioneering work in developing technology to quantify the cost of extreme weather to the built environment led to the development of the Climate Risk Engines in 2012.

Karl is editor and co-author of ‘Renewable Energy Policy and Politics: A Handbook for Decision Making’ published by Earthscan (London) and a contributing author for ‘Practical Adaptation Studies’, published by Wiley. Karl is also a founding board member of The Climate Bonds Initiative (London).

Dr Karl Mallon is a founder of The Climate Risk Group which includes companies XDI and Climate Valuation. His team of scientists and engineers is behind much of the data people see in the public about the impacts of climate change in Australia: from analysis by the RBA to reports on insurance affordability on the ABC. XDI has twice been ranked as the world leader in physical risk analysis in 2025, and works with over 100 banks and asset managers around the world on risk quantification and adaptation.

With a background in both Physics and Mechanical Engineering, Karl has worked in climate change mitigation, policy and technical analysis since 1991, and has specialised in climate adaptation since 2005. His team’s pioneering work in developing technology to quantify the cost of extreme weather to the built environment led to the development of the Climate Risk Engines in 2012.

Karl is editor and co-author of ‘Renewable Energy Policy and Politics: A Handbook for Decision Making’ published by Earthscan (London) and a contributing author for ‘Practical Adaptation Studies’, published by Wiley. Karl is also a founding board member of The Climate Bonds Initiative (London).

Chris is an investment / market risk manager with experience performing risk oversight of equity, fixed interest, credit and private debt portfolios across asset management, investment banking and hedge fund industries. Areas of focus include stress testing, VaR analysis, risk framework development and risk mitigation strategy. Currently he is a Senior Vice President at Citi, working in Global Market Risk, and is a certified FRM.