All this information needs to be related to financial risks— including financial institutions' exposures to non-financial counterparties. This is not an easy task. The current lack of usable data is a reflection of difficulties in transforming existing information on the drivers of climate risk into reliable metrics that quantify financial risks.
The key here is to find metrics that are forward-looking, recognizing that the nature and magnitude of future climate-related risks may differ from those in the past. Improved financial risk data can also help achieve the financial stability mandates of financial authorities.