Climate change regulation:
Why banks need granular data
Green is the new gold and when it comes to climate change, what banks need to be digging for is data
With extreme weather events becoming an almost weekly occurrence across the US, and technological disruption, changing consumer demand, and regulation forcing businesses to think greener, commercial lenders face physical and transition risk in their loan book.
However, this presents both risks and opportunity, and for commercial lenders that are willing to “use the time wisely” as suggested by Michael Hsu of the OCC, climate change could represent the next big gold rush in commercial lending.
But in order to take advantage of this, banks need to understand the risk in their loan book at the granular, loan-level, combining historic data with a forward-look view to anticipate where the most vulnerable credits lie.
Peter Grant, President of OakNorth, shares what challenges banks are facing now and what they need to be doing to address climate risk over the next few years, including:
- How to gather and analyze the data needed to address climate change risk in a more structured and strategic way
- How to develop a loan-level understanding of how climate change risk cascades down the value chain
- How to build climate-confident teams who are able to have the right conversations with borrowers, enabling them to understand their climate sensitivity and vulnerability, and how that may impact their creditworthiness
Please note: All registrants will receive a copy of the webinar playback.
President and COO, OakNorth
With a career spanning 20 years in enterprise software, Peter has led sales at several iconic companies contributing to their explosive growth and IPOs, as well as helping to drive the cloud revolution.
He started his career at Oracle Siebel, where he helped grow revenues from $100m to $2bn, taking the employee base from 350 to 8,000 in just four years. He later joined salesforce.com as managing director of the UK business, and was only the 10th employee, but helped grow the business’ revenues from $50m to $1bn under the leadership of Marc Benioff.
He then returned to working with Tom Siebel, joining C3.ai, where he held an executive leadership position responsible for all go-to-market across the US & APAC, reporting directly to Tom.
Based in San Francisco, Peter is OakNorth’s President and COO leading its revenue and growth, working directly with OakNorth’s co-founder, Rishi Khosla.
This webinar is brought to you by OakNorth
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