This Climate Risks Academy co-organized by Oliver Wyman and the Florence School of Banking and Finance combines the expertise and tools of the financial industry to assess and grasp the risks posed by climate change to the financial sector. To understand the physical risk exposure of the financial system, it is essential to realise the link between physical phenomena such as global warming, sea level rise, more frequent flooding and droughts with the corresponding financial losses and risks. The same goes for transition risks and their still poorly understood repercussions. […]