RESOURCE GUIDE
Climate Change Physical Risk Analysis

In conjunction with the Climate Change Physical Risk Toolkit, ILN has curated a comprehensive selection of credible sources of external research, databases and tools, guidance documents, disclosure frameworks and regulatory and legislative sources to help investors and other stakeholders in further researching the physical risks and financial impacts of climate change.

To facilitate use of this Resource Guide, filters have been created to allow users to search for relevant sources by type, topic area, regional coverage, sector coverage, and/or keywords. These search functions will allow users to find resources that address the regions, sectors and risks most relevant to their current and targeted investments.

The Resource Guide will be periodically updated to include new and updated sources as research and guidance into the physical risks and financial impacts of climate change continue to expand.

Sources referenced in the Resource Guide are subject to the applicable disclaimers, limitations and conditions set out by such third-party sources and should be accessed and used only in accordance therewith. While ILN understands these sources to be appropriate and reasonable, we are not responsible for any such information and provide no representation or warranty in respect of such information, including as to the accuracy or completeness of such information or as to the security of any third party websites, links or databases. Users should satisfy themselves as to the policies and restrictions of the applicable third-party sources prior to accessing any of their information.

Yale Environment 360

China, EU, USA, United Kingdom
Other Third-Party Research
Financial Impact Analysis, Macroeconomic impact analysis, Policy framework
Commercial Banks - Financial services, Government, Macroeconomy

Emphasizing the importance of the role Central Banks play in mitigating climate change.

Useful for:

Understanding different initiatives central banks should take to help governments and the financial sector become resilient against climate change, and ensure warming is not exceeded.

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World Resource Institute

Country level
Databases and Tools
Flood risk analysis, Location specific vulnerability assessment, Physical climate risk hazards, Resource impact: water, drought
Water

Uses data to identify and evaluate water risks around the world.

Useful for:

Can be used to identify and evaluate flood risks around the world.

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World Resource Institute

Global
Authoritative Research
Climate adaptation and resilience
Financial Services, Natural Environment, Water, cities and urban areas, food security, infrastructure

Focuses on making the case for climate adaptation, providing specific insights and recommendations in key sectors: food security, the natural environment, water, cities and urban areas, infrastructure, disaster risk management, and finance.

Useful for:

Gaining an understanding of different adaptation measures and efforts to decrease the impacts of physical climate risks, as well as understanding the materiality around adaptation.

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World Resource Institute

Global
Authoritative Research
Disclosure guidance, Risk assessment
Financial Services

Analyzes climate-related physical risk assessment guidance from leading corporate disclosure initiatives and provides information on the disclosure guidance coverage of certain physical risks.

Useful for:

Understanding current physical climate risk disclosure landscape.

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World Meteorological Organization

Country level
Databases and Tools
Extreme weather event risk, Physical Climate Science, Physical climate risk hazards

A specialized agency of the United Nations, WMO is dedicated to international cooperation and coordination on the state and behaviour of the Earth’s atmosphere, its interaction with the land and oceans, the weather and climate it produces, and the resulting distribution of water resources.

Useful for:

Identifying extreme weather events, and understanding climactic trends around the world.

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World Bank Group

Africa, Asia, Central and South America, Middle East
Databases and Tools
Climate adaptation and resilience, Location specific vulnerability assessment, Physical climate risk hazards, Policy framework, Vulnerability and exposure analysis

Provides country profile reports that synthesize the most relevant data and information on climate change, disaster risk reduction, and adaptation actions and policies at the country level.

Useful for:

Understanding climatology, climate related natural hazards, climate change impacts to key sectors, adaptation measures.

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Washington Post

Global
Other Third-Party Research
Human impact, Socioeconomic impact
Health

Explains the impacts heat waves could have on the human body, and providing information on safety measures that allow us to be more resilient and adapt to warmer weather.

Useful for:

Understanding how physical climate events impact humanity, and the indirect risks associated with climate events.

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United Nations Environment Program Finance Initiative (UNEP FI)

Global
Authoritative Research
Climate adaptation and resilience, Climate change litigation and legal framework, Financial Impact Analysis
Financial Services

Provides a foundational framework within which institutions can conceptualize the role of legal action as a driver or consequence of adaptation, and as a mechanism to reduce barriers to the availability of adaptation finance. It provides a key input for the future development of more holistic climate risk and pricing models.

Useful for:

Banks, insurers, asset owners, asset managers, and financial regulators to understand the importance of ensuring adaptation measures are considered to mitigate the impacts from physical climate risks.

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United Nations Environment Program Finance Initiative (UNEP FI)

Global
Authoritative Research
Climate Scenario Analysis, Risk assessment
Financial Services

Provides a summary of the key developments across third party climate risk assessment providers since May 2019, including new and updated scenarios, methodological tools, key guidelines, as well as an overview of the changing regulatory landscape and potential developments into 2021.

Useful for:

Identifying resources available to support forward-looking scenario-based assessments of physical and transition risks and opportunities.

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United Nations Environment Program Finance Initiative (UNEP FI)

Global
Authoritative Research
Climate Scenario Analysis, Risk assessment
Financial Services

A report on physical climate risks and opportunities from Phase II of its Task Force for Climate-related Financial Disclosures (TCFD) Banking Programme with climate risk advisory and analytics firm, Acclimatise. Provides a blueprint to support financial institutions to navigate the changing physical climate risk landscape.

Useful for:

Identifying resources available to support forward-looking scenario-based assessments of physical risks and opportunities.

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United Nations Environment Program Finance Initiative (UNEP FI)

Global
Authoritative Research
Climate adaptation and resilience
Investment

The paper reviews barriers and opportunities for financing resilience and adaptation by all actors across the financial system but chiefly targets financial system constituents, including policymakers and financial actors, and the actions required of each.

Useful for:

Identifying and understanding different adaptation and resilience measures investors can finance or encourage issuers to adopt.

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UK Climate Risk

United Kingdom
Authoritative Research
Climate adaptation and resilience, Location specific vulnerability assessment, Physical climate risk hazards
infrastructure

This is the third independent assessment of the UK’s climate risks under the Climate Change Act, coordinated by the Climate Change Committee. The report identifies eight risk areas that require the most urgent attention in the next two years, and provide advice for good adaptation planning that should form the basis for the next round of national adaptation plans.

Useful for:

Identifying adaptation initiatives and measures at a national level, and understanding the changing climate of the UK.

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Taskforce on Climate Related Financial Disclosure (TCFD)

Disclosure Frameworks
Climate adaptation and resilience, Disclosure guidance, Financial Impact Analysis, Materiality Assessment, Risk assessment

A set of climate disclosure recommendations for disclosing clear, comparable and consistent information about the risks and opportunities presented by climate change.

Useful for:

Knowing what material climate risks and opportunity information to disclose and look for from issuers. Understanding physical climate risks, and the financial impacts of climate risks and opportunities

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Taskforce on Climate Related Financial Disclosure (TCFD)

Disclosure Frameworks
Disclosure guidance

The Task Force developed this guidance to support preparers in disclosing decision-useful metrics, targets, and transition plan information and linking those disclosures with estimates of financial impacts. Such information will enable users to appropriately assess their investment and lending risks.

Useful for:

Engaging with investee companies on their climate disclosures and using metrics to assess climate risk management.

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Taskforce on Climate Related Financial Disclosure (TCFD)

Disclosure Frameworks
Disclosure guidance, Financial Impact Analysis, Materiality Assessment

In 2021, the TCFD published an annex that updated their disclosure recommendations, which describe climate information investors, lenders, and insurance underwriters need to make economic decisions.

Useful for:

Engaging with investee companies on their climate disclosures, and assessing climate related issues.

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Swiss Re Group

Global
Other Third-Party Research
Macroeconomic impact analysis
Macroeconomy

Report discusses the negative impacts on GDP if temperatures continue to rise, and the regions that could be hardest hit.

Useful for:

Understanding the macroeconomic impacts of physical climate change.

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Swiss Re

Country level
Databases and Tools
Extreme weather event risk, Location specific vulnerability assessment, Physical climate risk hazards
reinsurance

Swiss Re has created their own proprietary geo risk tool that provides the user with overviews and assessments of natural hazard exposures worldwide.

Useful for:

Identifying physical climate risks by location.

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Sustainability Accounting Standards Board (SASB)

Disclosure Frameworks
Climate adaptation and resilience, Financial Impact Analysis, Industry specific guidance, Materiality Assessment, Risk assessment
Consumer goods, Extractives and minerals processing, Financial Services, Food and beverage, Healthcare, Renewable resources and alternative energy, Resource transformation, Services, Technology and communications, Transportation, infrastructure

Bulletin is intended to assist investors and companies in their efforts to more effectively manage and communicate about climate risk. For investors, it presents a comprehensive view of where climate risk is likely to be present across a diversified portfolio and maps that risk to corresponding financial impacts to provide a greater understanding of exposures and value at risk. Second, for companies, the bulletin shares recommendations on how industry-specific climate risk can be more effectively measured, managed, and disclosed, ensuring markets have the information they need to price climate-related risks and opportunities.

Useful for:

Identifying sectors and industries that may be exposed to physical risks.

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Sustainability Accounting Standards Board (SASB)

Databases and Tools
Disclosure guidance, Financial Impact Analysis, Materiality Assessment, Risk assessment
Consumer goods, Extractives and minerals processing, Financial Services, Food and beverage, Healthcare, Renewable resources and alternative energy, Resource transformation, Services, Technology and communications, Transportation, infrastructure

Identifies the subset of environmental, social, and governance issues most relevant to financial performance in each of 77 industries. They are designed to help companies disclose financially-material sustainability information to investors.

Useful for:

Understanding the most relevant environmental, social, and governance issues related to financial performance in 77 industries.

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Sustainability Accounting Standards Board (SASB)

Disclosure Frameworks
Disclosure guidance, Materiality Assessment
Consumer goods, Extractives and minerals processing, Financial Services, Food and beverage, Healthcare, Renewable resources and alternative energy, Resource transformation, Services, Technology and communications, Transportation, infrastructure

Identifies sustainability issues that are likely to affect the financial condition or operating performance of companies within an industry.

Useful for:

Understanding material climate/environmental risks and opportunities by sector/industry.

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Schroders

Global
Other Third-Party Research
Climate valuation, Financial Impact Analysis, Risk assessment, Sector specific risks
Automotive, Basic resources, Chemicals, Construction and materials, Consumer goods, Food and beverage, Goods and Services, Healthcare, Media, Oil and gas, Real Estate, Retail, Technology and communications, Tourism, Utilities

Provides an overview of physical climate risk awareness among different sectors, and uses a methodology to assess individual company’s physical risks.

Useful for:

Gaining an understanding of how physical climate risk is integrated into companies, and assessing physical climate risk using a bottom up approach.

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S&P Global

Country level, Region level
Databases and Tools
Extreme weather event risk, Location specific vulnerability assessment, Physical climate risk hazards

Interactive tool that filters Physical climate risk hazards and time frame across the world to give probability of impact on geographic regions.

Useful for:

Identifying regions Physical climate risk hazards impact probability.

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Responsible Asset Owners Global Symposium

Guidance
Climate Scenario Analysis, Physical Risk Framework, Risk assessment, Risk management
Investment

Publication focuses on physical climate risks and provides investors with basic climate change information, and guidance on managing physical climate risks.

Useful for:

Identifying and mitigating risks associated with climate.

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Resources for the Future

USA
Other Third-Party Research
Climate adaptation and resilience, Policy framework, Risk assessment
Energy utilities and resources, Public Infrastructure, Transportation, Waste Management

Assesses the threats and needs that multidimensional climate change imposes for public infrastructure, reviews the existing adaptive capacity that could be applied to respond to these threats and needs, and presents options for enhancing adaptive capacity through public sector investments in physical, planning, and human resources.

Useful for:

Understanding adaptation and mitigation measures and efforts that can be deployed.

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Resource Watch

USA
Databases and Tools
Extreme weather event risk, Financial and economic impact, Humanitarian impact, Physical climate risk hazards, Resource and related sector impact

To help companies and financial organizations improve their understanding of these evolving risks, this dashboard provides a landing place for trusted, curated data and visualizations on physical climate hazards—presented along with an explanation of the climate science and potential financial impacts.

Useful for:

Identifying Physical climate risk hazards and understanding the climate science along with the potential financial impacts.

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Pro Publica

USA
Databases and Tools
Financial and economic impact, Humanitarian impact, Location specific vulnerability assessment, Physical climate risk hazards, Resource and related sector impact

Addresses how the climate crisis will interrupt the way we live and agriculture in the United States. Provides assessment and insights into how climate Physical climate risk hazards will impact different counties in the United States and how these changes may play out.

Useful for:

Understanding impact of physical climate risk on individual communities in United States.

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Princeton Climate Analytics

Country level
Databases and Tools
Extreme weather event risk, Humanitarian impact, Location specific vulnerability assessment, Physical climate risk hazards

Utilizes climate research to address physical climate issues using web-based tool and climate model data to monitor and predict weather patterns and extreme weather events in real-time and also allows users to visualize and interact with data at a regional level.

Useful for:

Assessing and monitoring drought data at the global level.

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Oxfam America, Calvert Investments, and Ceres

Guidance
Disclosure guidance, Risk assessment, Risk management
Agriculture, Electric Power, Food and beverage, Insurance, Mining, Oil and gas, Tourism

Publication provides examples of effects on value chains for different sectors.

Useful for:

Understanding indirect climate risks among certain sectors.

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OASIS Hub

Country level
Databases and Tools
Location specific vulnerability assessment, Physical climate risk hazards

Used to assess climate hazards and environmental risk data that individual locations are exposed to.

Useful for:

Location/country based Physical climate risk hazards information and data.

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New York Times

Global
Other Third-Party Research
Location specific vulnerability assessment, Physical Climate Science, Physical climate risk hazards

Provides broad information on the different physical risks countries may experience.

Useful for:

Identifying physical risk exposures to certain geographic locations.

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Network for Greening the Financial System (NGFS)

Authoritative Research
Climate Scenario Analysis, Financial Impact Analysis, Macroeconomic impact analysis, Risk assessment

The NGFS’s publication portal provides reports and materials that help to advance the NGFS’s purpose of strengthening the global response required to meet the goals of the Paris agreement and to enhance the role of the financial system to manage risks and to mobilize capital for green and low-carbon investments in the broader context of environmentally sustainable development. The Network defines and promotes best practices to be implemented within and outside of the NGFS’s global Membership of central banks and financial regulators and conducts or commissions analytical work on green finance.

Useful for:

Understanding macroeconomic implications of climate change, central banks roles and initiatives, and climate scenarios for the financial sector.

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Network for Greening the Financial System (NGFS)

Databases and Tools
Climate Scenario Analysis

The NGFS Climate Scenarios bring together a global, harmonised set of transition pathways, physical climate change impacts and economic indicators.

Useful for:

Understanding how physical risks and transition risks could evolve in different futures.

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Network for Greening the Financial System (NGFS)

Global
Authoritative Research
Financial Impact Analysis, Macroeconomic impact analysis
Central bank

Examines the implications of climate change for central banks’ operational frameworks and for the implementation of monetary policy in practical terms.

Useful for:

Understanding the macroeconomic implications of climate change risk.

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McKinsey

Africa, Asia, Europe, New Zealand, North America, South America
Other Third-Party Research
Climate adaptation and resilience, Location specific vulnerability assessment, Macroeconomic impact analysis, Physical climate risk hazards, Vulnerability and exposure analysis
Financial Services, Government, Insurance, Investment

Draw on climate model forecasts to showcase how the climate has changed and could continue to change, how a changing climate creates new risks and uncertainties, and what steps can be taken to best manage them.

Useful for:

Understanding what parts of the world are most exposed and vulnerable to certain acute and chronic physical climate risks, and the associated socioeconomic impacts. Also would be useful for understanding different mitigation and resilience efforts/measures.

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KPMG

France, Germany, Japan, USA
Other Third-Party Research
Climate adaptation, Disclosure guidance, Risk assessment, resilience
Automotive, Finance, Health, Industrials, Metals & Manufacturing, Oil and gas, Retail, Technology and communications

This study proposes a set of quality criteria for climate related disclosure and analyzes how the world’s 250 largest companies (as defined in the Fortune 500 list 2019) measure up against these criteria.

Useful for:

Knowing the climate reporting and disclosure landscape as well as the current global state of climate reporting among industries.

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KPMG

Australia
Other Third-Party Research
Extreme weather impact analysis, Risk assessment
Financial Services

A case study that looks at reviewing whether certain physical climate risks posed to a toll road operator could be uninsurable.

Useful for:

Understanding the impacts physical risks could pose to companies if they’re unable to be insured.

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International Institute for Applied Systems Analysis (IIASS)

Country level
Databases and Tools
Location specific vulnerability assessment, Physical climate risk hazards, Policy framework

Provides quantitative projections of the Shared Socioeconomic Pathways (SSPs) and related Integrated Assessment scenarios under different warming projections.

Useful for:

Useful for projecting plausible climate temperature into the future under different temperatures and to describe situations in which mitigation, adaptation and residual climate damage can be evaluated.

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International Energy Agency (IEA)

Authoritative Research
Climate policy, Physical climate risk hazards
Country level

An initial effort to assess the level of Climate adaptation and resilience of each country by comparing the level of climate hazard that the country is facing against its policy preparedness.

Useful for:

Understanding climate hazards, and policy preparedness for Climate adaptation and resilience.

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International Energy Agency

Authoritative Research
Climate Scenario Analysis, Climate policy

The IEA is at the heart of global dialogue on energy, providing authoritative analysis, data, policy recommendations, and real-world solutions to help countries.

Useful for:

Understanding different scenarios, policy developments, and gaining knowledge on the transition to a low carbon economy.

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Intergovernmental Panel on Climate Change (IPCC)

Global
Authoritative Research
Climate Scenario Analysis, Physical Climate Science, Physical Risk Framework

Most recent climate report from the IPCC that highlights the physical science basis of climate change by providing information on current state of the climate, including how it is changing and the role of human influence, the state of knowledge about possible climate futures, climate information relevant to regions and sectors, and limiting human-induced climate change

Useful for:

Understanding the physical risks of climate change and the different tipping points occurring globally

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Intergovernmental Panel on Climate Change (IPCC)

Global
Authoritative Research
Climate Scenario Analysis, Physical Climate Science, Physical Risk Framework

A special report that provides information on the impacts of a 1.5 degree warming above pre-industrial levels and related global greenhouse gas emission pathways, in the context of strengthening the global response to the threat of climate change, sustainable development, and efforts to eradicate poverty.

Useful for:

Understanding the impacts physical climate change could have if the world is unable to limit it’s warming and reduce GHG emissions

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Intergovernmental Panel on Climate Change (IPCC)

Global
Authoritative Research
Climate adaptation and resilience, Economic and industry impact scenario analysis, Physical Risk Framework
Energy, Financial Services, Health, Insurance, Primary economic activities, Recreation and tourism, Secondary economic activities, Transportation, Water

This report lays the foundations of the impacts of physical risk on key economic sectors and lays out adaptation options, and other relevant literature.

Useful for:

Identifying physical risk exposures to certain sectors/industries.

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Intergovernmental Panel on Climate Change (IPCC)

Africa, Asia, Australasia, Canada, Coastal areas, Europe, North America, USA
Authoritative Research
Climate adaptation and resilience, Physical Risk Framework, Risk assessment
Freshwater, Health, Human security, Macroeconomy, Natural Environment, marine systems, terrestrial

Provides examples of adaptation, vulnerability & exposure reductions, and transformation measures that could be taken to reduce physical climate risk exposure.

Useful for:

Gaining an understanding of different resilience and adaptation measures and efforts.

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Intact Centre on Climate Adaptation

Global
Other Third-Party Research
Climate valuation, Financial Impact Analysis
Electricity Transmission and Distribution, Real Estate

Provides guidance to issuers to incorporate climate risk into different financial valuation methods, and includes a case study on the financial impacts physical climate risks had on a electricity power generating and wholesale marketing company.

Useful for:

Incorporating climate risk financial evaluations into risk management processes, and understanding different mitigation and resilience measures certain industries can take to be resilient against physical climate change.

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Intact Centre on Climate Adaptation

Canada
Other Third-Party Research
Climate adaptation and resilience, Flood risk analysis
Climate adaptation and resilience

Provides guidance on how commercial real estate can be resilient to flooding in Canada by providing information on plans & procedures, equipment & supplies, and retorfits that can be implemented.

Useful for:

Understanding certain resilience initiatives for flood risks.

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Institutional Investors Group on Climate Change (IIGCC)

Guidance
Climate adaptation and resilience, Investor guidance, Qualitative analysis, Risk assessment
Investment, Low carbon economy, Public policy

This publication provides information to investors to help investors understand physical climate risks and how they can identify, assess, and manage physical risks and opportunities.

Useful for:

Understanding physical climate risks and how to assess them from a qualitative viewpoint.

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Institutional Investors Group on Climate Change (IIGCC)

Guidance
Climate adaptation and resilience, Investor guidance, Qualitative analysis, Risk assessment
Investment, Low carbon economy, Public policy

A guide that establishes investor expectations of investee companies regarding the governance, assessment, management, key metrics, and disclosure of physical climate risks and opportunities. It also provides questions investors can use to support the physical climate-related stewardship of investee companies.

Useful for:

To guide engagement with issuers by highlighting the key actions guide to help companies need to take and providing a basis for discussions with investee companies.

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HSBC

Africa, Asia, Australia, Europe, New Zealand, North America, South America
Other Third-Party Research
Location specific vulnerability assessment

Ranked 67 developed, emerging, and frontier market countries for their vulnerability to climate change risks. Physical impacts, transition to low-carbon economies and the funds to respond to climate change are all key to this analysis.

Useful for:

Assessing countries that would be most vulnerable to climate risks.

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Harvard Business School: Technology and Operations Management

Taiwan
Authoritative Research
Climate adaptation and resilience, Economic and market implication analysis, Extreme weather impact analysis, Risk assessment
Manufacturing

Impact of climate change on semiconductor manufacturing.

Useful for:

Case study example of impact of climate change on supply chain operations.

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Green Finance Platform

Global
Regulations Legislation
Climate regulation

Includes policy and regulatory measures issued by public authorities, including governments, central banks, financial regulators, and public financial institutions.

Useful for:

Getting an overview of various climate change related worldwide regulations.

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Grantham Research Institute on Climate Change and the Environment

Global
Regulations Legislation
Climate law, Climate litigation, Climate policy
Corporations

Database to search and browse climate laws, policies and litigation cases globally.

Useful for:

Identifying climate laws and policies by geographic location or corporate level.

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Global Risk Data Platform

Country level, Region level
Databases and Tools
Extreme weather event risk, Humanitarian impact, Location specific vulnerability assessment, Physical climate risk hazards

Provides visualized data information on natural hazards global risks, covering different Physical climate risk hazards such as tropical cyclones and related storm surges, drought, earthquakes, biomass fires, floods, landslides, tsunamis and volcanic eruptions.

Useful for:

Identifying historical hazard of locations.

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Global Facility for Disaster Reduction and Recovery (GFDRR)/World Bank

City level, Country level, Region level
Databases and Tools
Hazard response decision-making, Location specific vulnerability assessment, Physical climate risk hazards

Provides a general view of the hazards, for a given location, that should be considered in project design and implementation to promote disaster and Climate adaptation and resilience.

Useful for:

Non-specialists to consider the impacts of disasters on new development projects.

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Global Adaptation & Resilience Investment (GARI)

Guidance
Climate adaptation and resilience, Risk assessment, Risk management
Asset Management, Investment

This discussion paper is designed to serve as an initial starting point for broader discussions about metrics and methodologies for identifying and assessing climate change risk at the asset level and about examples of investments in adaptation and resilience. It provides feedback and commentary from an initial set of private investors and other stakeholders on those approaches with the objective of leading to appropriate ways of measuring physical climate risk that can facilitate concrete investment in adaptation and resilience.

Useful for:

Climate adaptation and resilience in investment.

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GermanWatch

Country level
Databases and Tools
Climate adaptation and resilience, Extreme weather event risk, Location specific vulnerability assessment, Physical Climate Science, Physical climate risk hazards - Humanitarian impact

Analyzes and ranks to what extent countries and regions have been affected by impacts of climate related extreme weather events.

Useful for:

Identifying physical climate risks by region.

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European Commission

Disclosure Frameworks
Disclosure guidance
Companies that fall under the Non Financial Reporting Directive

The Commission has published guidelines on reporting climate-related information, which in practice consist of a new supplement to the existing guidelines on non-financial reporting, which remain applicable. The guidelines on reporting climate-related information integrate the recommendations of the Financial stability board’s taskforce on climate-related financial disclosures (TCFD) and take account of the forthcoming taxonomy on sustainable activities.

Useful for:

Understanding the key concepts in relation to reporting climate information under the Non-Financial Reporting Directive, including materiality, climate-related risks, opportunities, and natural capital dependencies.

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European Bank for Reconstruction and Development (EBRD)

Guidance
Climate adaptation and resilience, Disclosure guidance, Risk assessment, Risk management
Corporations

Provides guidance on how to disclose physical climate risks and opportunities based of the TCFD recommendations.

Useful for:

Gaining an understanding on reporting and disclosure topics for physical climate risks.

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EU Taxonomy

EU
Regulations Legislation
Climate adaptation and resilience, Sustainable economic activity
Financial Services

Sets out the results of the work to date undertaken by the Technical Expert Group on Sustainable Finance in relation to the development of an EU classification system for environmentally sustainable economic activities.

Useful for:

Identifying resilience and adaptation initiatives.

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EM-DAT

City level, Country level
Databases and Tools
Extreme weather event risk, Hazard response decision-making, Humanitarian impact, Location specific vulnerability assessment, Physical climate risk hazards

Provides an objective basis for vulnerability assessment and rational decision-making in disaster situations. For example, it helps identify the disaster types that are most common in a given country and that have had significant historical impacts on human populations.

Useful for:

Identifying location specific (city level) Physical climate risk hazards and provides definitions of disasters.

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Ellen Macarthur Foundation

Guidance
Climate Scenario Analysis, Climate adaptation and resilience
Financial Services, Food and beverage, Policymakers, Resources: cement, aluminum, plastics, steel

Provides detailed examples of how some industries can take advantage of certain circular economy initiatives that translate into climate opportunities.

Useful for:

Understanding mitigation and adaptation efforts.

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Drought Catalogue

City level, Country level, Region level
Databases and Tools
Extreme weather event risk, Location specific vulnerability assessment, Physical climate risk hazards

Contains over 200 drought risk tools available worldwide: drought hazard and risk tools, ranging from drought indices and datasets to online platforms, newsletters, and software products.

Useful for:

Identifying drought risk in most regions around the world.

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Columbia University: Sabin Centre for Climate Change Law

USA
Regulations Legislation
Climate regulation, Impact analysis

A database of regulations and other actions by federal agencies that are relevant to climate change mitigation and adaptation. The database includes links to archived versions of proposed and final regulations as well as technical support documents, regulatory impact analyses, agency guidance, and other relevant resources.

Useful for:

Identifying climate related regulations in the United States.

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ClimateWise/University of Cambridge

Asia, Europe, South America
Authoritative Research
Financial Impact Analysis, Physical Risk Framework
Asset Management, Financial Services, Insurance, Lending, Real Estate

Case study assesses 12 real estate portfolios – with a total market value in excess of £2 trillion, spread across Europe, North and South America and Asia

Useful for:
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Climate Watch

Country level
Databases and Tools
Climate risk index scores, Location specific vulnerability assessment, Physical climate risk hazards

Offers open data, visualizations and analysis to help policymakers, researchers and other stakeholders gather insights on countries’ climate progress.

Useful for:

An open data source that provides information on location specific climate risks, and can help with identifying physical climate hazards, country readiness scores, country vulnerability scores, and climate risk index scores.

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Climate Links

Country level
Databases and Tools
Hazard response decision-making, Humanitarian impact, Location specific vulnerability assessment, Physical climate risk hazards, Resource and related sector impact
Agriculture, Disaster readiness, Economic growth, Education, Environment and biodiversity, Governance and security, Health, Water and sanitation, infrastructure, social services and marginalized populations

USAID has developed tools to support climate risk screening and management in strategy, project and activity design. These tools are meant to improve the effectiveness and sustainability of development interventions by helping the user to assess and address climate risk.

Useful for:

The annexes help to identify climate risks within certain sectors, and provide examples of how adaptation can assist in mitigating climate risks, opportunities to reduce climate risks, and risk management activities.

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Climate Disclosure Standard Board (CDSB)

Disclosure Frameworks
Disclosure guidance

The Climate Guidance has been designed to help companies put into place the thinking and processes necessary for high-quality material climate disclosures and allow them and their investors to best navigate the risks and opportunities of climate change.

Useful for:

Offers companies a framework for reporting and disclosing climate risk information.

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Climate Central

Country level
Databases and Tools
Physical climate risk hazards, Scenario: Sea-level rising and flood risk

An interactive map showing areas threatened by sea level rise and coastal flooding. Combining the most advanced global model of coastal elevations with the latest projections for future flood levels.

Useful for:

Tool allows you to explore sea level rise and coastal flood threats of specific cities, as well as how different warming scnearios affect sea level rise, and land that could be put below tideline due to Antarctic ice sheet loss.

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Climate Analytics

Country level
Databases and Tools
Extreme weather event risk, Financial and economic impact, Location specific vulnerability assessment, Physical climate risk hazards, Resource and related sector impact
Agriculture

Tool shows how the severity of climate change impacts will increase over time in continents, countries and provinces at different levels of warming, starting with 1.5°C, the limit in the Paris Agreement. It also allows access to the underlying data.

Agriculture: Maize yield, rice yield, soy yield, wheat yield, soil moisture.
Climate: Air temperature, atmospheric pressure, daily max/min air temperature, downwelling longwave radiation, precipitation, relative humidity, snowfall, specific humidity, wind speed.
Economic Damages: 1-in-100-year expected damage from tropical cyclones, annual expected damage from river floods/tropical cyclones, labour productivity due to heat stress.
Extreme Event: Population/land exposed to crop failures/heatwaves/wildfires, river flood depth.
Fresh Water: Max/min daily river discharge, river discharge, surface runoff.

Scenarios:
NGFS current policies
NGFS delayed 2C
NGFS net-zero 2050
RCP26
RCP45
RCP60
RCP85

Useful for:

Understanding extreme weather events that could occur, and different physical climate risks.

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Climate Analytics

Country level
Databases and Tools
Physical climate risk hazards, Scenario: Sea-level rising and flood risk

Tool shows how the severity of climate change impacts will increase over time in continents, countries and provinces at different levels of warming, starting with 1.5°C, the limit in the Paris Agreement. It also allows access to the underlying data.

Scenarios:
RCP26
RCP45
RCP85

Useful for:

This tool provides local sea-level projections for different global warming scenarios, with uncertainty ranges, and sources of variance.

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Climate Action Tracker

Global
Regulations Legislation
Climate policy

An independent scientific analysis that tracks government climate action and measures it against the globally agreed Paris Agreement aim of “holding warming well below 2°C, and pursuing efforts to limit warming to 1.5°C.

Useful for:

Identifying government policies, Nationally Determined Contributions, and commitments made by the highest emitters

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Clim Invest

Global
Other Third-Party Research
Climate valuation, Financial Impact Analysis, Investor resources, Vulnerability and exposure analysis
Financial Services, Investment

Financial cost of climate hazards from extreme weather events and identification of transparent and precision in risk assessment tools.

Useful for:

Understanding physical risk information, securing portfolio value against climate risk, identifying key areas of priority from an investor perspective.

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Clim Invest

Country level, Region level
Databases and Tools
Financial Impact Analysis, Location specific vulnerability assessment, Physical climate risk hazards, Risk assessment
Agriculture, Real Estate, Transportation

An interactive online platform with indicators, maps, case studies, videos, and factsheets on physical climate risks.

Useful for:

Physical climate risk information for investors.

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China Water Risk, Manulife Asset Management, Asia Investor Group on Climate Change

Africa, Asia, Europe, North America, Oceania, South America
Other Third-Party Research
Financial Impact Analysis, Investor resources, Location specific vulnerability assessment, Physical climate risk hazards
Asset Management, Financial Services

Assess the depth of significant short- and long-term threats from water and climate risks arising from both adaptation and mitigation, and discuss how they are embedded in Asian market indices and current asset allocation practices of Asian pension funds.

Useful for:

Understanding the physical risks hazards certain regions will face and how it could impact portfolios.

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CFA Institute

Disclosure Frameworks
Climate Scenario Analysis, Risk assessment
Financial Services, Investment

Explains the different acute and chronic physical risks investors should consider.

Useful for:

Identifying risks.

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CFA Institute

Global
Authoritative Research
Climate Scenario Analysis, Economic and market implication analysis, Investor resources, Physical and Transition Risks and Opportunities
Investment

Page 3-7, Provides information on physical climate risks, as well as provides a case study that assesses geography of exposure in US residential mortgage-backed securities to physical climate risks.

Useful for:

Understanding physical risks and their global impact, and how to integrate these risks into investment decision making.

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Centre for Climate and Energy Solutions

USA
Other Third-Party Research
Economic and market implication analysis, Extreme weather impact analysis, Location specific vulnerability assessment, Risk assessment
Financial Services, Government, Insurance, Macroeconomy

A map that shows all types of weather disasters, some of which are known to be influenced by climate change (floods, tropical storms) and some for which a climate influence is uncertain (tornadoes) in the United States.

Useful for:

Identifying potential location specific physical risks, and gaining an understanding of how financial material extreme weather events can be.

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Centre for Climate and Energy Solutions

USA
Other Third-Party Research
Climate adaptation and resilience, Extreme weather impact analysis: drought, Risk assessment
Government

Fact sheet overviews strategies for areas with a projected increase in drought conditions to become more resilient. It concludes with a community case study that has used a number of these strategies, and a list of tools to help communities evaluate the costs and benefits of resilience strategies.

Useful for:

Identifying and understanding resilience efforts that can be taken to reduce the risks posed by droughts.

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Centre for Climate and Energy Solutions

USA
Other Third-Party Research
Climate adaptation and resilience, Extreme weather impact analysis: wildfires
Forestry management, Government, infrastructure

Paper overviews a number of adaptation strategies for areas with a projected increase in wildfire conditions. For each strategy, it will discuss design and operation costs, and primary and co-benefits. The paper includes a community case study of Austin, Texas, which has used a number of these strategies, and a list of publications and interactive tools to help communities become more resilient to wildfire.

Useful for:

Identifying and understanding resilience efforts that can be taken to reduce the risks posed by wildfires.

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CDSB and TCFD

Disclosure Frameworks
Industry comparison analysis

Offer some specific examples of different aspects of effective TCFD reporting across the four core TCFD elements of governance, strategy, risk management, and metrics and targets.

Useful for:

Identifying best practice climate disclosures.

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CDP

Disclosure Frameworks
Climate adaptation and resilience, Materiality Assessment, Risk assessment
Government, cities, companies, investors

CDP runs the global environmental disclosure system. Each year CDP supports thousands of companies, cities, states and regions to measure and manage their risks and opportunities on climate change, water security and deforestation.

Useful for:

Identifying physical risks by location and sector, as well resilience and adaptation initiatives related to specific companies.

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CDP

Disclosure Frameworks
Industry comparison analysis
Government, cities, companies, investors

On an annual basis, CDP releases the top companies that have scored an ‘A’ on their climate change, forest, and water responses – showcasing the companies that are leaders in the climate change disclosure and management space.

Useful for:

Identifying best practice climate disclosure as well as identifying climate risks faced by certain global companies.

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Carbon Brief

Global
Authoritative Research
Climate science, Policy framework
Energy, Policy

A UK-based website covering the latest developments in climate science, climate policy and energy policy.

Useful for:

Becoming aware and staying up to date with various material climate change related information.

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Canada Climate Law Initiative (CCLN)

Canada
Regulations Legislation
Climate law, Climate regulation
Financial Services

CCLN’s mission is to ensure Canadian directors and trustees understand their fiduciary obligations with respect to climate change, and have access to resources to help them govern with confidence in the area of climate-related financial risks and opportunities.

Useful for:

Staying up to date on current climate laws and regulations and gaining an understanding of various climate regulations and laws that could impact various financial institutions.

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Bank of England

Global
Authoritative Research
Macroeconomic impact analysis
Macroeconomy

Focus of this review is on the key theoretical and empirical modelling issues in the analysis of the macroeconomic risks deriving from climate change.

Useful for:

Understanding the macro economic risks climate change can pose.

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Bank of England

Global
Authoritative Research
Financial Impact Analysis, Risk assessment
Insurance

Framework designed to assess the impact of physical climate change risk for in the insurance sector.

Useful for:

Practitioners working with or at general insurance firms who are looking to assess the financial impacts of physical climate change.

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Bank of Canada

Canada
Authoritative Research
Extreme weather impact analysis, Microeconomic impact analysis
Household finances, Insurance

Examine the intersection between severe weather events and household financial vulnerabilities.

Useful for:

Identifying physical risks across Canada, and understanding the financial impacts.

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Accounting for Sustainability

Guidance
Climate valuation, Risk assessment, Risk management
Financial Services, Investment

Offers a five-step framework that enables investment and valuation communities to apply climate change risks and opportunities consistently to valuations and decision making.

Useful for:

Quantifying climate related risks.

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Acclimatise & UNEP FI

Global
Authoritative Research
Climate Scenario Analysis, Resource and related sector impact, Risk assessment
Agriculture, Banking, Energy, Real Estate

The report is the result of a collaboration of sixteen of the world’s leading banks coordinated by the UN Environment Finance Initiative (UNEP FI) Secretariat to advance recommendations published by the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD). Through this collaboration, banks set out to develop and test a widely applicable scenario-based approach for estimating the impact physical climate change on their corporate lending portfolios.

Useful for:

Understanding how physical risks could impact portfolios and different methodologies that could be used.

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