Nigeria and the lopsided distribution of climate-related banking risk

I recently mentioned, somewhat in passing, the notion that the spoils and costs of climate change in the banking sector are likely to be unequally distributed across society and around the world.  An implication of this is that rich banks, whose primary business is centered on rich clients residing in rich countries, are unlikely to face substantial hardship, at least for the foreseeable future.  

The flipside, of course, is that banks operating in poor countries will likely be the first to suffer as climate change inevitably progresses.  Those concerned about systemic climate risks in the key banking systems of Europe, North America and developed Asia should therefore be carefully watching the performance of banks in the developing world for signs of climate-related trouble.

Here I want to explore the imbalances in the global banking system, infer some of their effects, and then do some digging into how African banks are currently handling climate-related risk.