The physical consequences of climate change are caused by various factors, including weather events and long-term changes in climate, with increasing frequency and severity of extreme weather events. Economic consequences include lower Gdp growth, higher unemployment, and significant changes in asset prices and profitability of industries. Moreover, 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. Furthermore, weather events may cause increased costs for the Barcaged assets.