Micro Level Evaluation of Climate-related Credit Losses

Micro Level Evaluation of Climate-related Credit Losses

Tony Hughes

Climate risk modeller

In this video collaboration between the MMF, Grant Thornton, Finance and Sustainability Unlocked, Tony Hughes, expert risk modeller and data scientist outlines the link impact of climate change on the financial system. In the second video in his two-part series, Tony outlines why financial costs have been muted so far, pointing to the predictability of climate impact, that leads to closer preparedness from firms and investors.

In this video collaboration between the MMF, Grant Thornton, Finance and Sustainability Unlocked, Tony Hughes, expert risk modeller and data scientist outlines the link impact of climate change on the financial system. In the second video in his two-part series, Tony outlines why financial costs have been muted so far, pointing to the predictability of climate impact, that leads to closer preparedness from firms and investors.

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Micro Level Evaluation of Climate-related Credit Losses

9 mins 39 secs

Overview

Tony Hughes, expert risk modeller and data scientist presents his argument for why climate change has so far had a limited impact on the financial system. Tony explores why, despite higher temperatures and fifty years of global warming, the impact on the financial system has, so far, not been intensely felt. Finally, Tony dives into the ‘unanswered’ empirical questions.

Key learning objectives:

  • Explore the micro-level evidence for the impact of climate change on the financial system

  • Why have financial costs relating to climate change so far been muted?

  • What are hedging strategies in relation to climate change?

  • What is the value of building early detection systems into strategy?

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Summary
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Expert
Tony Hughes

Tony Hughes

Dr Tony Hughes is an expert risk modeller and data scientist at Grant Thornton. Tony has over 20 years of experience in industry and academia. Before he joined Grant Thornton he worked as a senior quantitative modeller at Moody’s Analytics for over two decades. At Moody’s, Tony developed market risk models and structural macroeconomic models for use in simulation and scenario development. Tony’s key focus is in climate modelling and ESG, which Tony described as the “greatest quantitative challenge the industry has faced for many decades”.

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