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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The severity of desertification and its mutual relationship with climate change cannot be overstated. In light of the recent launch of the Special Report on Climate Change and Land by the Intergovernmental Panel on Climate Change (IPCC), Robert McSweeney from Carbon Brief explains what desertification is, what role climate change plays, and what impact it has across the world.
“It is time to do more than just talk about sustainability. It is time to act sustainably,” said Heiko Maas during his speech at the General Debate of the 74th United Nations General Assembly. Germany’s Minister for Foreign Affairs highlighted the need for multilateral cooperation to achieve worldwide sustainability, as well as Germany's focus on climate-security, women, and disarmament and arms control as part of its agenda in the UN Security Council.
Strengthening multilateralism is a prominent task of foreign policy and central to achieving sustainable development and securing a peaceful future. Here you can watch, hear and read innovative ideas on how diplomats can drive sustainable change by gearing-up international cooperation to shape a truly sustainable foreign policy.
Ahead of the most important climate action event of the year, the international expert community releases key reports with the latest scientific information on climate impacts, national targets and climate action progress over the last 25 years. Now climate diplomats have only one thing to focus on: stepping-up implementation.