Despite growing awareness, many banks remain inadequately prepared for climate disruptions. A lack of robust adaptation strategies is prevalent, with U.S. banks being the least prepared.
Lukky Ahmed, CEO of Climate X, emphasized that banks need to integrate climate adaptation into their strategic planning and create resilient products and services.
The report by Climate X highlights that 88% of banks globally are unprepared for climate-related disruptions, signaling a pressing need for institutional change.
Individuals can take proactive steps by discussing disaster planning with local bank managers to ensure banks are ready for extreme weather and climate impacts.
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