Physical hazards arising from climate change are numerous and relate to specific weather events and longer-term changes in the climate. Although the exact timing and frequency of extreme weather events are unknown, their effects on the economy are expected to be more severe in the coming years, including lower Gdp growth, higher unemployment, and significant changes in asset prices and profitability. Additionally, damage to the properties and operations of borrowers could impair asset values and creditworthiness, leading to increased default rates, delinquencies, write-offs, and impairment charges in the Barclays Bank Group portfolios.