Asean Banks Not Responding Fast Enough to Climate Change: WWF

The video discusses the recognition of climate change as a material risk by banks, highlighting the gap between acknowledgment and effective risk management. It addresses governance challenges, the need for aligning profitability with sustainability, and the role of regulations. Examples of proactive measures by Singapore banks are provided, emphasizing the importance of policies in high-risk sectors.

What percentage of banks recognize climate change as a material risk, according to the transcript?

• 70%

• 90%

• 50%

• 30%

What is one of the main reasons for the lack of effective climate risk management in banks?

• Lack of technology

• Insufficient capital

• Weak governance structures

• High competition

How can banks address the externalities related to climate and natural capital risks?

• Through regulations and leadership

• By increasing interest rates

• Through mergers and acquisitions

• By reducing staff

What action have the three Singapore banks taken to demonstrate leadership in sustainability?

• Reduced interest rates for all clients

• Expanded into new international markets

• Increased investment in fossil fuels

• Stopped financing new coal-fired power plants

What percentage of GHG emissions is contributed by the fossil fuel sector?

• 5%

• 25%

• 10%

• 50%