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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Tensions in the South China Sea increased last April when a Chinese coast guard ship sank a Vietnamese fishing boat near the Paracel Islands—a fiercely disputed territory in the South China Sea. Disputes over island territories in the region have endured for decades, with China, Vietnam, the Philippines, Taiwan, Indonesia, Malaysia, and Brunei all making overlapping territorial claims. The region is rich in natural resources and biodiversity, holding vast fish stocks and an estimated 11 billion barrels of oil and 190 cubic feet of natural gas.
Without a coordinated strategy to tackle flooding disasters beyond the traditional infrastructural measures and river water sharing agreements, South Asia’s woes will continue in the future.
With Argentina's ‘yes’, the Escazú Agreement is one step away from coming into force. What’s its status in each country?
As political and public narratives on COVID-19 shift towards the need to ‘build back better’, the pandemic continues to take a heavy toll for many. A new report by the Climate Security Expert Network (CSEN) shows how COVID-19 can exacerbate climate-related security risks.