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AI & Lending

Climate-related risks to the financial sector in Canada

Concerns about climate-related risks have been growing within the financial sector for many years, particularly in the insurance sector. However, at COP26 in Glasgow, the broader financial sector was a key part of the discussions that have reinforced the recommendations of the Task Force on Climate-related Financial Disclosures and the importance of monitoring and reporting associated risks. Integral to these processes is OFSI’s first Annual Risk Outlook where climate change-related risks are prominent. 

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