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Cadwalader special counsel Michael Ruder spoke at the LSTA's Climate Risk Study Webinar. The event reviewed the findings of a recent study conducted by Sia partners.
The global study included GSIB’s, institutional investors and numerous foreign banks and U.S. Regional Banks. The inputs across the participants demonstrated that much work remains in building out a competitive climate risk mitigation effort at firms worldwide.
The study highlighted solid governance progress for many participants, but meaningful gaps on building out scenario analysis and stress testing which are significant concerns of regulators worldwide. The study also isolated the need for broader efforts in the public and private sector for expanded standardization in efforts on investor disclosure and metrics to measure progress on meeting Net Zero requirements by 2050