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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A recently published paper by the Stockholm International Peace Research Institute (SIPRI) has focused on the under-researched topic of how climate change impacts may affect violence in South and Southeast Asia. Titled “Climate change and violent conflict: Sparse evidence from South Asia and South East Asia”, the report highlights how little work has been done in looking at climate change and its possible impact on security in the most densely populated regions on the planet.
Every day humanitarian aid workers help millions of people around the world, regardless of who they are and where they are. With expert knowledge and support, humanitarian workers are well placed to create a better environment for the people that they serve as well as for themselves.
The pro-coal position of Poland’s energy ministry has thrown sand into the country’s climate diplomacy as COP24 president-designate Michał Kurtyka intensifies his diplomatic tour ahead of the United Nation’s annual climate meeting later this year in Katowice.
As governments take stock of the adequacy of the Paris Agreement, willingness to raise the level of ambition will depend significantly on confidence that a variety of promises are being kept. Many of these relate to fundamental commitments around international solidarity. A solidarity of which we are in sore need today, on far too many fronts.