Private Sector & Development magazine articles

The financial sector is increasingly mainstreaming climate-related risks into its analyses, in particular through the action of the NGFS, an international network of central banks and regulators. Details and analyses from Jean Boissinot, Deputy Director for Financial Stability at Banque de France and Head of the NGFS Secretariat.

More than half of the world’s population lives in cities – and all are at risk from increasing climate change impacts ( floods, storms, extreme temperatures, among others) due to warming at alarming levels. This means that communities, the built environment and economies are exposed. Lower- and middle-income countries experience worse scenarios, with amplified impacts for vulnerable groups, the poor, women, children, and the elderly, exacerbating poverty and undermining development.

Around the world, the impacts of climate change are increasingly being felt and have become impossible to ignore. Stories of increased drought, more intense storms, and changing rainfall patterns are commonplace. These changes are putting global water security at risk: according to the UN, about 4 billion people, representing nearly two-thirds of the global population, already experience severe water scarcity during at least one month of the year, and businesses consistently rank water risk as a top concern, based on a survey published by the World Economic Forum every year.