Banking Climate Readiness Utility - McKinsey
Banking Climate Readiness Utility | McKinsey & Company
new SEC requirements at lower cost and higher quality.
BCRU Membership
The goal of BCRU is to provide member banks with the necessary data and analytics to build their disclosures on an annual basis by helping them:
- Identify and quantify climate risks, including physical and transition risks across loan portfolios, as well as bank offices and branches
- Quantify and baseline Scope 1, 2 and 3 GHG emissions, including Category 15 “financed emissions”
- Define the approach to measure the climate related impacts on the bank’s financials
Our members can also take advantage of a climate immersion session to build an understanding of the various climate elements and risks.
Benefits of BRCU Membership
Best value
Member governance
Continued evolution
Collective learning
The BCRU Offer
Two-day McKinsey Climate Academy
Climate risk identification and assessment
GHG emissions initial baselining
Impact assessment framework
Readiness assessment and benchmarking
Featured experts
Peter Noteboom
Senior Partner, Seattle
Peter leads the Banking Risk & Resilience client service for the Americas and has served US regional and global banks on a range of strategy, productivity transformation and growth topics.
Dan Stephens
Senior Partner, Washington
Dan founded and leads McKinsey’s Sustainable Finance practice in the Americas. He advises senior leaders across the public and private sectors, including in sustainability, financial services, housing, education, and customer experience.
Munya Muvezwa
Partner, Carolinas
Munya is a leader in the Wholesale Banking practice, focusing on driving transformational change in wholesale banking and credit risk with experience on topics such as frontline excellence and effectiveness, digital strategy, and credit risk process optimization in wholesale banking.
Ritesh Jain
Partner, New York
Ritesh is a core member of the Global Risk and Resilience practice. He leads McKinsey’s efforts on global banking, climate risk and climate readiness. Ritesh serves both national and global banking and securities groups who are looking for risk management in preparation for economic and climate change, including net zero banking and climate in banking.
Hans Helbekkmo
Partner, Bay Area
Hans leads McKinsey’s Climate Risk practice in North America. He supports clients in developing climate risk management capabilities and business strategies. He has served 20+ banks on climate topics globally. More broadly, Hans has 25+ years’ experience working in risk management as a practitioner and consultant.
Ross Tisnovsky
Senior Solution Leader, Miami
Ross leads the day-to-day operations of the Climate Utility. He specializes in technology-enabled business performance improvement. Ross successfully founded and managed several analytical and research business lines within McKinsey and other consulting firms.
Featured insights
Understanding the SEC’s proposed climate risk disclosure rule
Managing financed emissions: How banks can support the net-zero transition
Aligning portfolios with climate goals: A new approach for financial institutions
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Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”