Banks, insurers and investors increasingly recognise the risks posed by climate change to their businesses  . Collaborations between banks, insurers and superannuation funds in Australia and New Zealand are driving efforts aimed at achieving the Paris Agreement goals, including the New Zealand Centre for Sustainable Finance and Australian Sustainable Finance Initiative . Company directors, including superannuation fund directors, have legal obligations to disclose and appropriately manage material financial risks . Financial regulators are aware of climate risks for financial stability and financial institutions  and are closely supervising climate risk disclosure practices . In Australia, regulatory action  includes issuing prudential guidelines for financial institutions on managing climate risk, aligned with guidelines developed by the Climate Measurement Standards Initiative . In New Zealand, the financial sector  amendment bill aims to ensure that the effects of climate change are routinely considered in business, investment, lending and insurance underwriting decisions .
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report