We are living in an era of systemic risks that will be defined by our our response to climate and biodiversity issues

The Great Financial Crisis that began in 2007 was the beginning of the era of systemic crisesEscalating risks relating to climate change and biodiversity issues will become the ‘new normal’ rather than an exceptionFinancial institutions are not ready yet to measure their risks or respond but regulators are moving quickly so financial institutions should start to act

The Great Financial Crisis was a watershed moment in ways that are only becoming clear in hindsight. For one, it may have been the first in a series of systemic crises that will force financial institutions to focus much more on their resilience than other factors. Escalating risks relating to climate change and biodiversity issues, as well as the continuing fallout from the coronavirus pandemic, will be...