C3S Climate Services for physical climate risk assessment in the financial sector

Decision-makers across public and financial sectors increasingly require robust, decision-relevant information on climate hazards associated with extreme weather events. The Copernicus Climate Change Service (C3S), implemented by the European Centre for Medium-Range Weather Forecasts (ECWMF) on behalf of the European Commission, facilitates the development of adaptation and mitigation strategies for society in the face of climate change. Among the different components of the service, C3S supports the development of climate hazard information to strengthen physical climate risk assessments, including applications for the European Investment Bank. The service addresses methodological challenges related to the selection, combination, and interpretation of climate datasets and scenarios across sectors. The work promotes interdisciplinary integration between climate science, risk assessment, and decision-making communities, supporting more robust and actionable climate risk analyses. This contribution highlights key methodological elements and lessons relevant for advancing integrated climate risk approaches.