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Climate Risk Consortium

Climate Risk Consortium

Climate Risk Consortium

What is RMA's Climate Risk Consortium?

RMA’s Climate Risk Consortium brings together risk management professionals at North American financial institutions with the purpose of advancing awareness of and addressing risks relevant to climate change. 

Members of the group are committed to:

Setting standards and recommendations for governance, disclosure, and risk management principles

Sharing experiences with peers 

Helping to move the industry forward on the topic of climate change risk

Interested in joining the Climate Risk Consortium?

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2022 Climate Risk Consortium Initiatives:


Helping banks develop a climate risk strategy, including risk appetite, training, policies, and Board assessments.


Communicating in a common voice to regulators and assessing/preparing for regulatory disclosures. 

Risk Management

Developing common metrics and targets for reporting and benchmarking; organizational design for scenario analysis and stress testing. 


Member Banks:

Currently, 17 of the largest North America-based financial institutions are involved in the inaugural year of RMA's Climate Risk Consortium, including:  

  • Bank of America
  • Fifth Third Bank
  • Huntington National Bank
  • KeyBank
  • M&T Bank Corp.
  • MUFG Union Bank
  • National Bank of Canada
  • Regions Bank
  • Royal Bank of Canada
  • Silicon Valley Bank, and its parent, SVB Financial Group
  • Truist 
  • U.S. Bank
  • Wells Fargo

The Consortium launched in September 2021 and is chaired by Mary Obasi, Global Climate Risk Executive, Bank of America. RMA is also working on including mid-tier financial institutions in this effort.



Relevant Thought Leadership

MVC Summit 2022 Hero 825X470

Statement Studies Blogs 1168X660 2

MVC Blog 1 Challenges Of MRM 1168X660


Interested in joining the Climate Risk Consortium?

Contact Us