How Does “Climate Risk” Relate To “Credit Risk”?
A large part of Canada’s economy is dependent on the extraction of fossil fuels. While some may associate the oil and gas industry with healthy financial returns and profitability, the resource extraction industry is facing risks. Risks that can come the in the form of climate change, carbon pricing, changing government regulations and stranded assets.
In addition to environmental and social consequences, these risks also have financial consequences – who would want to lend money to a company that may go out of business or become unprofitable if public opinion or government policy shifts away…
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