Abstract
Shifts and adjustments to formal risk systems created by climate risk exposure are likely to involve changes in the risk model of the firm, modifications to the practice of risk identification, and assessment to support management decision-making over corporate risk responses. Current risk taxonomies, prioritization criteria, and assessment tools may be rendered inadequate and in need of upgrading to accommodate the new risk category of climate risk.
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Dowbiggin, A. (2021). Formal Risk System Challenges. In: Climate Risk and Business. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-78244-3_5
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DOI: https://doi.org/10.1007/978-3-030-78244-3_5
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