While Canada’s financial system was fit for purpose across decades of liberal democratic order, it’s important to look at how the system should be structured in the future, said Mark Zelmer, former deputy superintendent of financial institutions at the Office of the Superintendent of Financial Institutions and a fellow-in-residence at C.D. Howe Institute. Speaking in […]
Canadian financial institutions appear ready to absorb projected potential losses from physical and transition risks caused by climate change, according to a new report by the Autorité des marchés financiers and the Office of the Superintendent of Financial Institutions. The report, which engaged more than 250 financial institutions in Canada, found organizations are prepared for […]
Abrupt changes in climate policies from governments around the world could lead to fire sales of climate sensitive assets held by institutional investors, according to a the results of a pilot scenario analysis project from the Bank of Canada and the Office of the Superintendent of Financial Institutions. “Climate transition risks are challenging to assess […]
Canada’s top central banker is making a plea for the country to more quickly address the impacts of climate change to avoid any economic ripple effects on households and businesses. Tiff Macklem made the case in a speech Tuesday that Canada’s financial system needs to become as resilient to climate change as it has been […]