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Fast reading:

Physical climate risk will vary across a country, with each house having its own physical risk profile, impacted by its unique build quality, positioning, location, and dependence on natural capital.
The dispersed nature of physical climate risk favours local banks as they are able to focus their assessment on specific and localised categories of risk.
The agricultural sector is particularly exposed to this risk, and nature plays an essential role in building farm resilience against flooding, drought, and other weather-related events.

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Local banks lead on physical climate risk – Federated Hermes Limited

The increased frequency of wildfires and flash flooding is already hitting insurance companies. But what about the climate exposures faced by banks in their mortgage and commercial loan books? Will Farrell investigates.

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