About 8% of emerging market companies will face significant credit stress under our baseline scenario of lower global growth through 2023, compared with about 3% of developed market companies.  But more than a third of emerging market companies are at risk in our downside scenario of an escalation of the conflict.

Jim Hempstead of the Cyber Risk team and Sarah Hibler of the Financial Institutions team join host William Foster to discuss how cybersecurity risk is evolving in novel ways, with growing potential to cause significant economic disruption and financial losses as hackers become more sophisticated.​

Both public pension funds and insurance companies have aggressively invested in private equity and private credit in search of returns, and, in the case of public pension funds, to reduce state and local governments’ reported liabilities. However, public pension funds have increased their investment risk to a level that exceeds that of insurance companies, which instead have altered products and pricing rather than rely heavily on risky private assets.

Our ESG team looks at how nature is declining faster than at any time in human history – increasing pressure on natural capital resources and raising important credit risk implications globally for governments, companies and financial institutions.