Climate Risk Podcast

Many of the financial risks that will arise from the transition towards a net-zero economy will be determined by what climate-related policies are enacted, the speed with which policymakers act, and how the economy evolves in response to these policies. Given economics' critical role in policymaking, the economist's perspective on climate change provides insights into how these policy options migh...

Against a backdrop of increasing societal awareness and improved scientific understanding of climate change, many stakeholders regard the law as an important tool to hold firms and governments to account and drive forward the green agenda. Since the Paris Agreement in 2015, there has been a significant rise in the number of climate-related litigation cases, increasing the legal jeopardy and reputa...

Today's episode is all about how to navigate the increasingly complex landscape of climate disclosures, sustainability reporting frameworks and green taxonomies that have emerged over the last few years. This episode will address: What role disclosures should be playing in driving the transition to a low carbon economy Recent efforts to move beyond a narrow focus on climate to incorporate factors...

Over the past few years, we have seen an increasing number of companies take it upon themselves to engage with the issues climate change and sustainability on a voluntary basis - with firms' motivations ranging from an interest in the long-term sustainability of their company's activities, to a sense a moral duty to people and planet. There is a lot to be learnt from the organisations taking proac...

In today's episode we will be returning to the topic of climate disclosures, looking specifically at the advancements in TCFD adoption across the banking sector. In 2019 we recorded a podcast that discussed the early adoption of the TCFD across the banking sector. Now, just 2 years on, we are starting to see a number of countries laying out plans for mandatory TCFD reporting. Expectations around t...

In this installment of the Climate Risk Podcast we are joined by renowned economist Professor Sir Dieter Helm, whose extensive experience of advising governments on energy and natural capital helps us cut through the hype and face the realities of reaching net zero. In the run up to Glasgow's COP26 as part of the global 'race to zero' initiative, we have seen a significant rise in commitments to r...

In this instalment of the Climate Risk Podcast we are turning our attention to agriculture, forestry and land use, a sector that both affects, and is affected by, climate change. Producing approximately 20% of total global greenhouse gasses, agriculture, forestry and land use is considered the second largest source of emissions after energy production, making it a critical focus for global decarbo...

In this instalment of the Climate Risk Podcast we will be taking a closer look at the role of real economy firms, and their boards, in the race to net zero. Last year we looked at the role that boards have in shaping firms' climate strategies and developing approaches to managing the risks and opportunities from climate change. Since then, the pressure on boards has only mounted, given this more r...

In this instalment of the Climate Risk Podcast we address a few different topics all tied together by the central theme of climate data. Translating the output of climate, energy and economic models into decision useful climate analytics is fraught with challenges. It requires the bridging of informational gaps, but also the bridging of disciplines and communities. It also means navigating the unc...

In this instalment of the Climate Risk Podcast we address two pressing questions facing asset managers and explore their implications for the financial sector more broadly. The first question is a fundamental one: what is the appropriate role for asset owners and asset managers in relation to climate change? How do these roles relate to one another and how far reaching are their obligations?  The...

This episode covers: Carbon offsets – what are they and how can they help tackle climate change? Biodiversity – how can offsets promote regenerative activities and nature-based solutions? Nature-related Financial Disclosures – how does this relate to TCFD and what will the key metrics and targets be?   Links from today's discussion: South Pole - https://www.southpole.com/ Taskforce on Scaling Volu...

When it comes to setting out the financial system's response to climate change and the related risks, it is clear that financial regulation will have a key role to play. Over the past year, we've seen supervisors setting out their expectations for climate risk management, with a number undertaking stress testing or scenario analysis exercises. More authorities are implementing mandatory Climate-Re...

The physical effects of climate change - rising global sea levels and temperature, to extreme weather events - are creating or exacerbating numerous risks. Whilst physical risks are generating a significant amount of uncertainty for business and finance, the most direct impact of physical risk is the damage of physical assets and disruption to their use. Understanding and evaluating these risks is...

In this latest instalment of the Climate Risk Podcast, we will be looking back at the past year of podcasts and considering the key learnings for risk professionals. This episode will also reflect on the progress that has been made in advancing climate risk management during 2020, and a look ahead to what's on the horizon in 2021.   Today's episode covers: Key lessons for risk professionals from t...

In this latest instalment of the Climate Risk Podcast, we will be exploring the issue of pricing the risks from climate change. During the course of this inaugural series of the climate risk podcast, we have explored numerous perspectives on the pressing issue of climate change. That has included hearing from the insurance sector, boards, academia and more. But to round off this first series of cl...

In this latest installment of the Climate Risk Podcast, we will be exploring two key concepts in the transition to net zero: greening finance and financing green. One interesting finding from GARP's 2020 Climate Risk Survey was that over the next five years financial firms expect climate-related opportunities to have a bigger impact on their strategies than climate-related risks, underlining the f...

In this latest instalment of the Climate Risk Podcast, we will be taking a closer look at the financial risks associated with energy and water systems, and how these could change as the impacts of climate change increase. In this series we have stressed the importance of risk professionals building up a holistic view of climate risk. This requires better understanding the complex and interconnecte...

The systemic and existential nature of the risks arising from climate change requires us to engage with the problem strategically at a high level. But how can we do this when the problem is so vast and complex? One approach is the application of systems theory to our planet in a discipline known as earth system science . This approach treats the whole globe as a single complex system, observing th...

Consumer sentiment is a critical part of climate transition risk. As consumers become increasingly aware of the impact goods and services are having on the planet, we will start to see profound shifts in demand. Join us today as we hear from James Hand, Co-founder of the social enterprise GIKI, an organisation that is creating apps and data tools to inform the public about the impact of their cons...

What are some of the limitations of the current disclosure frameworks for use by risk managers, and how can we tell when companies are saying one thing but doing another?  In recent months we have seen climate risk disclosure frameworks, such as the one set out by the Task Force on Climate-related Financial Disclosures (TCFD), increasing in popularity. And whilst these developments are to be welco...

Originally released on the GARP Risk Podcast on July 16, 2020. In this episode of the Climate Risk Podcast series, we are moving beyond financial services to look at how climate change will affect firms in the real economy. We will be joined by Julie Baddeley, one of the UK's most experienced women directors, who will be sharing insights on this topic from the perspective of the Board. Julie is al...

Originally released on the GARP Risk Podcast on June 11, 2020. Continuing our theme from the last episode of the COVID series, in this special episode of the Climate Risk Podcast Series, host and Co-president of the GARP Risk Institute, Jo Paisley, is again joined by John Scott, Head of Sustainability Risk for the Zurich Insurance Group. Having briefly touched on some of the interconnections that...

Originally released on the GARP Risk Podcast on June 4, 2020. Insurance plays such an important role in how we collectively navigate risk and many insurance firms are already used to dealing with the extreme weather events that are being made worse and more frequent by climate change. It is therefore important that the experience and insights found within the insurance sector are brought to bear o...

Originally released on the GARP Risk Podcast on April 23, 2020. Welcome back to GARP's Climate Risk Podcast Series. Through the course of this series we will be bringing you insights from those working at the cutting edge of climate change. We will be joined by regulators, business leaders and risk practitioners who will help us build up a holistic view of the risks and opportunities that climate...

Originally released on the GARP Risk Podcast on March 17, 2020. Welcome to the first episode of GARP Podcasts Climate Risk Series. Through the course of this series we will be bringing you insights from those working at the cutting edge of climate change. We will be joined by regulators, business leaders and risk practitioners who will help us build up a holistic view of the risks and opportunitie...