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.
For the complete article, please visit the World Resources Institute's Blog.
On Tuesday, 4 June, seven foreign ministers, 19 ambassadors, several ministers and more than 200 experts met in Berlin to act on climate security risks at the Berlin Climate and Security Conference. "Achieving the international climate targets is the new imperative of our foreign policy”, the German Foreign Minister, Heiko Maas, said in his opening speech. This is the aim of the Berlin Call for Action which was presented at the conference.
Governments must invest new effort and money to prevent climate change from driving new conflicts, according to a diplomatic statement drafted by the German foreign office.
A multi-sectoral and multilateral approach to South Asia's rivers could provide sustainable development, but it needs to include those already marginalised by a narrow development path.
Women are vital for effective climate policy making and implementation. In South Asia, more needs to be done on systematically integrating women into policy processes - as active stakeholders and not merely as victims of climate risks.