On the morning of 29 April 2026, professionals from across Norway’s banking, insurance, and real estate sectors gathered at Construction City in Oslo for a breakfast seminar on physical climate risk and what it means for assets, portfolios, and investment decisions.
The event was hosted by Telescope and 7Analytics, with Ragni Rønneberg Hernes and Vegard Blauenfeldt Næss leading the morning. The programme brought together people across the industry, including panellists from KLP Eiendom, Finans Norge, Storebrand, and independent expert Jørund Buen.
The morning opened with a welcome from Jonas Aas Torland and Gustav Haaland, setting the scene for the conversations ahead, situating Norway’s real estate and finance sector in the context of accelerating physical climate risk and rapidly evolving regulatory expectations. They also gave a brief introduction of the companies and the newly started cooperation between the two.
Nina Lædre Wiig from Finans Norge presented key findings from Klimarapporten 2026, the sector’s annual state-of-play on climate risk across Norwegian financial markets. The report showed that weather- and nature-related damages have cost Norway NOK 42 billion over the past ten years, with the last three years being the most expensive on record. Nearly half of these costs were linked to pluvial flooding claims.
Jørund Buen brought a sharp, evidence-based perspective on how climate risk is manifesting in the banking sector, from credit risk to capital requirements and supervisory expectations. His session drew on emerging data showing how physical climate risk is beginning to reprice mortgages and reshape lending decisions in exposed areas.
The morning concluded with a roundtable panel bringing together voices from across the financial and property sector: Jørund Buen, climate risk expert, Arne Skjærholt, Storebrand, Runar Lundøy, KLP Eiendom, Mari Betanzo, Finans Norge. The panel explored how different parts of the sector, banks, insurers, and property managers, are experiencing climate risk differently, and what it will take to build genuinely resilient portfolios across all three.
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Ragni Rønneberg Hernes
Business Developer
