The ECB's chief climate affairs official said a new trend is taking shape: the cumulative impact of extreme climate shocks is evolving into a type of independent risk. Eileen Himsk, head of the ECB's Climate Change Center, said in an interview: “A slowly emerging long-term impact is emerging. It will cause secondary effects, disrupt the industrial chain, and even damage labor productivity.” A BlackRock executive recently issued a similar warning. So-called long-term climate risks are receiving more and more attention. This risk describes a scenario where financial and economic losses due to sudden extreme weather such as floods, wildfires, or droughts occur repeatedly, and the frequency of occurrence makes future prevention more difficult.

The ECB's chief climate affairs official said a new trend is taking shape: the cumulative impact of extreme climate shocks is evolving into a type of independent risk. Eileen Himsk, head of the ECB's Climate Change Center, said in an interview: “A slowly emerging long-term impact is emerging. It will cause secondary effects, disrupt the industrial chain, and even damage labor productivity.” A BlackRock executive recently issued a similar warning. So-called long-term climate risks are receiving more and more attention. This risk describes a scenario where financial and economic losses due to sudden extreme weather such as floods, wildfires, or droughts occur repeatedly, and the frequency of occurrence makes future prevention more difficult.