New research shows climate change increased the likelihood of the devastating fires in Los Angeles County this month. Climate change helped to set the stage for the devastating Los Angeles fires this month, a new study by 32 researchers shows.

The hot, dry and windy conditions that preceded the Southern California fires were about 35% more likely because of climate change, according to a new report.

The recent Los Angeles wildfires are only the latest reminder that banks need to steel themselves against climate change both in their portfolios and in their own businesses.