Climate-related physical risks

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Irene Monasterolo participated as a panelist in the session entitled "Climate-related physical risks", together with:

  • Dr Olivier Mahul, Practice Manager, Crisis and Disaster Risk Finance (World Bank)
  •  Adityadeb Mukherjee, Head of ESG, (Lloyds Banking Group)
  • Tom Perkins, Catastrophe & Climate Risk Analyst (Bank of England)
  • Chair: Dr Nicola Ranger, Deputy Director, UK Centre for Greening Finance & Investment, Head of Sustainable Finance Research for Development, Oxford Sustainable Finance Group (University of Oxford).


Physical risk is often seen as more remote than transition risk, particularly for wealthier countries. But COVID has taught us that risks can interact in complex ways and cascade globally. This session drew upon the evidence on systemic risks related to physical climate shocks, including compound risks and cascading global physical risks.

In this session, experts showcased the latest science in this area and identified potential hot spots of risk.