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.
Peatlands cover about 3% of the Earth’s land area, store huge amounts of carbon, and provide habitats for diverse flora and fauna. The recent UN Environment Assembly in Nairobi, Kenya, has adopted its first ever resolution on peatlands. A groundbreaking step!
The European Commission, backed by 11 EU member states, refused to sign a declaration on “sustainable and smart gas infrastructure” tabled by the Romanian Presidency earlier this week because the text wasn’t ambitious enough on climate change, Euractiv has learned.
The Planetary Security Conference brings together experts, policy makers and politicians from around the world to discuss how best to tackle the security risks of climate change. The conference also reports on progress towards meeting the ambitions of The Hague Declaration which set out an action agenda for the community of practice on climate security. This year we spent some time interviewing some of the participants to get their insights into how climate change affects international and human security.
As the May 2019 EU elections loom and a new European Commission takes office, climate action can become a key driver of a reformed EU project for more solidarity, protection and innovation, writes Luca Bergamaschi, Senior Associate at E3G.