Could climate risk cause the next financial crisis?

Madeleine Cuff
clock • 7 min read

New report claims the insurance industry is failing to protect its portfolios from climate risk - an oversight it predicts could have 'catastrophic effects' on the wider economy

Last year Bank of England Governor Mark Carney catapulted climate risk into the financial mainstream with his now-famous 'Tragedy of the Horizon' speech. Carney warned insurers gathered at Lloyd's of...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Investment

Scottish government proposes increase in renewables projects' community benefit funds

Scottish government proposes increase in renewables projects' community benefit funds

New proposals published by Scottish government aim to increase funding that communities near onshore renewable projects receive

clock 19 February 2026 • 3 min read
 Amazon breaks ground on first zero carbon-certified delivery station

Amazon breaks ground on first zero carbon-certified delivery station

New Stockton-on-Tees site to feature range of low carbon tech, including cement-free materials, AI-powered emissions tracking, and waste reduction measures

Stuart Stone
clock 19 February 2026 • 2 min read
Study: Renewables tipped to emerge as 'clear economic winner' over fossil gas by 2029 in UK

Study: Renewables tipped to emerge as 'clear economic winner' over fossil gas by 2029 in UK

REA analysis shows renewables set to deliver net economic advantage for the UK from 2028 to 2029 compared to most costly power system that remains reliant on fossil gas imports

clock 17 February 2026 • 4 min read