Climate Data Can Help Mitigate Financial Risks, but Can Drive Inequity in the OIC's Most Climate-Exposed Countries

Three-quarters of the population of Organisation of Islamic Cooperation (OIC) countries are more vulnerable to climate change than the global averageIslamic financial institutions are exposed directly to climate risks and to market, credit and liquidity risks if international financial institutions pull exposure to them or to OIC markets to limit climate risksPublicly financed climate data could be a force for good or it could increase inequities if unequally distributed; global climate finance should support its adoption and integration in climate-vulnerable countries such as in Islamic financial institutions across the OIC

The growth of climate-related financial data has the potential to make the financial system much more resilient in the future,...