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1. Climate change - financial risks.

Abbreviation for climate transition, relating to financial risks that could arise from adjusting to a lower-carbon economy and net zero emissions.

In this context, financial climate transition is distinct from the direct physical risks of climate change.

2. Risk-free rates - LIBOR and related transitions - conduct.

In the context of risk-free rates, transition refers to the discontinuation of LIBOR and similar rates, and their replacement by other risk-free interest rates.

This transition is important both for non-financial corporates, and for financial institutions themselves, for example in relation to conduct.

3. Other contexts.

Any other substantial and long term change.

Especially one carrying material risks and financial risks.

See also

External link