Climate and nature-related financial risks. An example of how Spanish organizations address them

This publication is the result of the consensual decision among members of CONAMA‘s Technical Committee 6 (CT6) on “The future of climate and nature-related risks and their financial impact” –coordinated by members of CONAMA technical team and the coordinators of the Natural Capital Factory– to draft an informative document that is useful for economic, financial and social actors interested in better understanding the landscape of climate and nature-related financial risks.

Climate and nature financial risks. A sample on how Spanish organizations address them is structured in several chapters that address the political and regulatory context of these risks; types of climate and nature-related financial risks and examples; relevant initiatives working to help companies and financial sector report and disclose these risks; motivations of organizations to address them; examples of mechanisms, methodologies and tools for identification, measurement and management; and the main challenges and problems encountered in managing financial climate and nature-related risks.

The document also includes a chapter dedicated to the contribution of companies to adapting to climate change and strengthening social resilience to this phenomenon. This section aims to support the general objective of the National Climate Change Adaptation Plan 2021-2030 (PNACC 2021-2030) to “promote coordinated and coherent action against the effects of climate change in Spain in order to avoid or reduce present and future damage derived from climate change and build a more resilient economy and society.”