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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Climate and security were the focus of a high-level foreign policy conference held in Berlin in early June. At the core of the conference was the “Berlin Call for Action”, which sets out three concrete action areas for tackling the threats posed by climate change to peace and security, namely risk-informed planning, enhanced capacity for action and improved operational response. But what if the world doesn’t listen?
From contentious rules on carbon trading, through efforts to raise ambition to who will host next year’s summit, negotiators have a full agenda this fortnight. Climate talks resume this week in Bonn, Germany, with negotiators working to finalise the last contentious points of the rulebook for the Paris Agreement.
Germany, Greece, Italy and Slovenia have added their names to a growing list of EU countries supporting a carbon neutrality objective for 2050, increasing the chances that a deal will be struck at an EU summit later this week, according to documents seen by EURACTIV.
Costs, emissions and safety are at stake as Argentina and China look set to seal a nuclear power deal. In the midst of economic and political uncertainty, Argentina has doubled down on a major Chinese nuclear power deal. The new nuclear plant in Buenos Aires province will help meet Argentina’s energy needs with the support of Chinese technology and finance.