Extreme weather events like fires and floods are causing companies to take a closer look at the physical risks posed by climate change, and how they could impact their income and balance sheets. Despite the financial threat posed, awareness of physical risk is currently low and exposure to potential losses and damage is still underreported in financial disclosures. As demand for transparency grows among investors and policymakers, what is the actual scale of the threat from physical climate risk, and what can be done to improve reporting and data collection? On today’s show, Dana sits down with Danya Liu, an analyst from BloombergNEF’s climate risk team. Together, they discuss the different forms physical risk can take and which weather events leave the largest financial impact, why the financial services industry is especially vulnerable to climate-driven catastrophes, and how insurers could help improve awareness of physical risk and data reporting. Complementary BNEF research on the trends driving the transition to a lower-carbon economy can be found at BNEF on the Bloomberg Terminal, on bnef.com or on the BNEF mobile app. Links to research notes from this episode: Beyond Fire and Floods: Firms Gauge Costs of Physical Risk - https://www.bnef.com/insights/32983 See omnystudio.com/listener for privacy information.