Australia’s national science agency, CSIRO, and CBA have launched a joint initiative to examine the potential impacts of climate change to the finance sector.
CSIRO will utilise the data to develop sectoral analysis and different scenarios. CBA will then overlay economic and financial insights to underscore the varying impacts on the Australian economy.
The insights from the project will be publicly available on a digital platform being developed by the Climate Resilient Enterprise initiative.
Matt Comyn, Commonwealth Bank CEO, says the partnership will help to strengthen the efforts being made by financial institutions and their customers and communities to adapt to climate change.
“The best scientific insight, combined with our data and insights, means CSIRO and CBA are well placed working together to help businesses understand what risks they face, how they can adapt and what opportunities are available to create jobs and investment in a lower carbon economy.”