Physical and transition risks

According to the TCFD, climate-related risks are categorised into two main types: physical and transition risks. Physical risks are direct threats posed by climate change, including acute (extreme weather events) and chronic (long-term shifts in climate patterns) risks, potentially causing asset damage, supply chain disruptions and other issues. Transition risks are associated with the shift to a low-carbon economy, including policy, technological and market changes, which can lead to financial and operational challenges for organisations.

Mauro Tortone

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Mauro leads P27’s Wealth Management practice, with expertise in finance & investment, strategic change, and sustainability. He is a Chartered Member of the CISI, where he works as an external specialist, and sat on its Corporate Finance Forum Committee. He worked with UBS, Deutsche Bank and financial and non-financial firms and authors the CISI Applied Wealth Management workbook. Mauro holds the CISI Investment Advice Diploma (IAD) and a Henley MBA.
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