PANEL: Beyond financial markets risks: rethinking what treasury should be hedging

Treasury has traditionally focused on hedging FX and interest rate risk – but a more fundamental question is emerging: are we hedging the risks that truly drive volatility?

Weather and climate risks, as well as epidemic and pandemic disruptions, are now directly impacting cash flows, margins and liquidity – often without a structured hedging approach.

This discussion challenges conventional boundaries by examining how these real‑world risks translate into financial exposure – and how they can be systematically incorporated into a broader strategic hedging framework. The focus is on how treasury can actively stabilise performance against more than financial market variations, strengthening balance sheet resilience and supporting more predictable outcomes.