Investors are, by necessity, experts at taking calculated risks. They scan the horizon of our ever-evolving world for new and sometimes unexpected economic challenges so that they can put their money where it’s most likely to grow. Today, financial institutions are facing one economic challenge that will fundamentally change the way we do business—climate change.
Climate change is a risk that, while significant, is oftentimes misunderstood by the financial community. A warmer world introduces new, complex and interwoven layers of risks ranging from physical, financial, regulatory and reputational. So WRI and the UNEP Finance Initiative (UNEP FI) worked with more than 150 participants from the financial sector to create the Carbon Asset Risk Discussion Framework, a tool to help financial institutions undertake the difficult task of identifying and understanding climate-related risks to their portfolios.
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A little over a decade ago, the Himalayan region was considered by the IPCC a 'black hole for data'. Small steps have been taken since then, but now scientists hope recent border clashes and the pandemic will not derail the limited progress made on research cooperation over the past decade.
New report for policymakers provides an overview of the growing research on the links between climate change, security and peace. The synthesis identifies ten insights into climate-related security risks and lays the groundwork for the Global Climate Security Risk and Foresight Assessment, led by adelphi and PIK, that will be launched at the Berlin Climate and Security Conference.
In the wake of Germany’s United Nations Security Council (UNSC) presidency for the month of July 2020, its role in addressing climate change in the body gains even greater importance. A look into selected UNSC members that are also pushing the climate issue reveals: health and economic risks are key entry-points.