Insights

Adaptation Capital Is Still Being Allocated on Instinct

Shipbreaking #11, Chittagong, Bangladesh, 2000 © Edward Burtynsky, courtesy Nicholas Metivier Gallery, Toronto

FeaturedThought LeadershipMethodologyClimate Science

Adaptation Capital Is Still Being Allocated on Instinct

Adaptation planning needs the same discipline as any capital allocation decision: quantify the risk, price the intervent...

Ron Dembo•Jun 16, 2025
Supervisors now stress test climate risk. Their own results come with a warning.

Salton City, California, USA, 2009 © Edward Burtynsky, courtesy Nicholas Metivier Gallery, Toronto

Regulation & Risk

Supervisors now stress test climate risk. Their own results come with a warning.

73% of supervisors now run climate scenario analysis or stress tests. The NGFS Guide for Supervisors is equally clear ab...

Ron Dembo•Oct 4, 2026
Two Ways to Build a Flood Model, and Only One Answers the Question That Matters

Oil Spill #4 Oil Skimming Boat, Near Ground Zero, Gulf of Mexico, June 24, 2010 © Edward Burtynsky, courtesy Nicholas Metivier Gallery, Toronto

MethodologyClimate Science

Two Ways to Build a Flood Model, and Only One Answers the Question That Matters

There are two ways to predict flood damage in a warming world. One adjusts the past. The other rebuilds from the weather...

Ron Dembo•Jun 1, 2026
The UK’s Prudential Regulatory Authority Found Most Firms Can't Quantify Their Own Climate Risk

Suguta Valley #1, Kenya, 2017 © Edward Burtynsky, courtesy Nicholas Metivier Gallery, Toronto

Regulation & RiskMethodology

The UK’s Prudential Regulatory Authority Found Most Firms Can't Quantify Their Own Climate Risk

The Bank of England's PRA is clear - climate risk is a driver of financial stability, and firms are expected to quantif...

Ron Dembo•May 13, 2026
Climate Risk 2.0: The Next Generation of Physical Climate Risk Measurement

Colorado River Delta #2 Near San Felipe, Baja, Mexico, 2011 © Edward Burtynsky, courtesy Nicholas Metivier Gallery, Toronto

Thought Leadership

Climate Risk 2.0: The Next Generation of Physical Climate Risk Measurement

Climate Risk 2.0 is a minimum standard for physical climate risk measurement, not a product or vendor claim. It requires...

Ron Dembo•May 4, 2026
The Regulator Backed One Vendor's Flood Model. Here's What Holds Up.

Homesteads #27 Coleman, Crowsnest Pass, Alberta 1985 © Edward Burtynsky, courtesy Nicholas Metivier Gallery, Toronto

Thought LeadershipMethodology

The Regulator Backed One Vendor's Flood Model. Here's What Holds Up.

In 2024, OSFI and l'AMF built Canada's mandatory climate stress test on flood data from a single company. That's not a c...

Ron Dembo•May 4, 2026