As the impacts of climate change continue to impact Canadian communities, there is a growing recognition that physical and transitional risks threaten credit unions and the wider financial system. Credit unions must understand these risks and opportunities and further incorporate them into their business and financial decision-making. Stakeholder awareness of these risks has grown substantially over recent years, too, with regulators, policymakers, employees, and credit union members asking financial institutions to disclose their climate-related financial risk management capabilities and take steps to improve them.
If your credit union is embarking on a climate journey, and is uncertain about how to approach the challenge, plan to attend CCUA’s webinar: Climate Risk and Governance Guide for Canadian Credit Union Directors - Canadian Credit Union Association
Further, we encourage all credit unions to participate in our Climate Risk Disclosure Survey that will help build an accurate presentation of credit union climate disclosure.