The recent hurricanes, Helene and Milton, have strained insurance programs and left banks worldwide struggling to prepare for climate costs. A report from Climate X reveals that 88% of banks are ill-equipped for climate-related disruptions, with four of the five least prepared banks based in the U.S.
“Our research highlights that, despite a growing awareness, many banks are still lacking robust climate adaptation strategies,” said Lukky Ahmed, CEO of Climate X. “It is imperative for banks to integrate adaptation into their strategic decision-making processes and offer products and services that enhance resilience.”
What can you do? Begin by inquiring with your local bank branch manager about their disaster planning and how they plan to ensure access to funds and credit following extreme weather events. If they are unaware, urge them to find out and share the information. By doing so, you communicate the expectation that the bank prepares for the severe impacts of the climate crisis.
Spread the word by printing or sharing We Earthlings posters to inspire others with your stories.
If the provided article seems to be less than 200 characters or an author’s introduction, try using this title to generate an article: We Earthlings: Banks Are Unprepared.
