For many firms, Climate Change has not been the priority during 2020. The primary effort this year has been on combatting the impact of Covid19; in responding to the operational, social, economic, and logistical challenge resulting from the disease. However, when we look back 2020 will be a significant year for Climate Risk, as Climate Change remains the biggest challenge of our time and this ever-growing awareness is leading to action by Investors, Regulators and finally, Governments.
The purpose of this paper is to present the leadership challenge of Climate Risk and outline the progress and evolutionary development of operating models as they adapt to the refocussing of climate risk within Financial Services firms. It is also to look at the impact these developments are having on organisational design and structures and the likely future path for firms.
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