The Bank is exposed to transition risk arising from events associated with the transition to a low carbon economy, as well as legal and regulatory changes, technological innovations, changes in products and services supply and demand, unfavorable perception of clients, the financial market or society in general related to climate change.<\/p>\n\n\n\n
Another risk that can impact the Institution is physical climate risk, which refers to the possibility of losses arising from frequent and severe weather conditions or long-term environmental changes. Examples of this type of risk include extreme weather conditions, such as droughts, floods, storms, cyclones, frosts and forest fires; and permanent environmental changes, including rising sea levels, scarcity of natural resources, desertification, and changes in rainfall or temperature patterns.<\/p>\n\n\n\n
From the Integrated Risk Management process, in addition to monitoring the regulatory environment and customer perception, management includes consulting information on public lists and verifying the activities, products and services subject to social and environmental legislation. Therefore, the Institution seeks to ensure regularity at all levels of its operations. As for operations, Social, Environmental and Climate risks inherent to the activity\u2019s economic industry are identified, based on the National Registry of Economic Activity (CNAE – Cadastro Nacional de Atividade Econ\u00f4mica) code.<\/p>\n\n\n\n
Climate risk management costs are not calculated individually but are considered together with the resources allocated to the Institution’s risk management.<\/p>\n","protected":false},"featured_media":0,"template":"","categoria_indicadores":[1376],"codigo":[1607],"empresas":[],"ano_indicador":[1519],"class_list":["post-5061","indicador","type-indicador","status-publish","hentry","categoria_indicadores-risk-approach-and-opportunities-related-to-climate-change","codigo-gri-201-2-en","ano_indicador-2021-en"],"acf":[],"yoast_head":"\n