Central Bank of Oman warns of climate risks to financial stability
Physical and transition risks identified in the oil-exporting country
The Central Bank of Oman has warned climate change is an emerging risk to the financial system of the oil-exporting country.
“There is growing awareness and concern about the implications of climate change on the financial stability of Oman,” the central bank wrote in its 2022 financial stability report, published July 16.
The central bank identifies two forms of risk posed by climate change. The first is “direct physical impact leading to infrastructure and property damages”. The second is
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