Financial Services Sector (10)
Are you doing enough to engage your customers while maintaining compliance? Extreme wind and rain storms and other events: increased tropical cyclone activity; increased frequency of flas floods and large-area floods in many regions; increased risk of drought in Australia, eastern New Zealand and the Mediterranean, with seasonal droughts in central Europe and Central America; increased wildfires in arid and semi-arid areas such as Australia and the western United States.
Mohammad Yanus (2003), the famed Nobel Prize winner for his work with Grammean Bank, illustrates the type of solutions that are now labeled micro-financing and have grown substantially, especially in under-served markets such as Asia and Latin America.
In a recent survey, Charles Schwab replied N/A” to the question about physical risk of climate change, while Lehman Brothers stated physical risks pose a threat to the operations of all financial services firms and therefore the financial markets overall.” (Sussman and Freed, 2008, p. 10).
In the United States, the Coalition for Environmentally Responsible Economies (CERES, 2009) (pronounced series”) is a national network of investors, environmental organizations and other public interest groups working with companies and investors to address sustainability challenges such as global climate change.
With the reality of increasing, devastating business interruptions due to hurricanes and other natural disasters, terrorist threats, regional infrastructure failures, and breaches in technology security, this initiative is re-defining what it takes for the financial services industry to stay in business, no matter what the circumstances.