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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South Asia’s vulnerability to climate change and associated fragility risks calls for a regional approach to climate services. Different actors need to cooperate to share actionable climate information—the security architecture in the region would benefit.
With cities continuously more threatened by climate change-induced disasters, urban planning’s reflex response is to protect cities against nature. But what if the solution lies in working with nature instead against it? Architect Kongjiang Yu invites readers to imagine what cities could look like if they took into account ancient wisdom on spatial planning.
During the past two weeks, Antigua & Barbuda, Nicaragua and Panama ratified the Escazú Agreement, giving a major boost to the unprecedented and innovative Latin American pact that seeks to reduce social conflicts and protect frontline communities in the world’s deadliest region for environmental defenders.
UN Secretary-General António Guterres outlined priorities for the 26th session of the Conference of the Parties to the UNFCCC (COP 26) during a briefing at UN Headquarters. The briefing was hosted by the UK, which will be assuming the COP 26 presidency in partnership with Italy. COP 26 is scheduled to convene from 9-20 November 2020, in Glasgow, UK.