Climate change poses long-term risks to financial institutions’ safety and soundness, as well as possible physical threats in the near term. The former include the increased threat of wildfires in the West and severe weather events, such as hurricanes and droughts, created by the greenhouse effect.
In this episode of the CUNA News Podcast, sponsored by Moody’s Analytics, James Partridge, senior director of risk solutions practice, explores how to navigate climate risk and gauge organizational sustainability using environment, social, and governance factors (ESG).
In this episode, Partridge explains how to compile an ESG score, the role of compliance and climate risk, and how climate risk can affect the bottom line. Most importantly for credit unions, Partridge discusses how to integrate climate data into lending decisions.
Credit Union Magazine’s Summer 2023 issue highlights the lending outlook for the rest of the year, how credit unions leverage fintech companies to boost digital lending, the power of lending partnerships, common Bank Secrecy Act violations, and the shift board members must make when becoming chair.
