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.
US leadership on climate action: what a nice surprise! However, Germany needs to quickly step up efforts – or stand to lose its reputation in climate mitigation and energy transition.
In 2018, many countries, including India, have been at the receiving end of the worst disasters the world has ever witnessed. It is imperative that they adopt a human security approach to achieve “freedom from hazard impacts” – nationally through a scientific disaster risk reduction strategy, and internationally through climate diplomacy.
San Francisco’s Global Climate Action Summit ended on 14 September with non-state actors sending a call to action to governments ahead of the crucial COP24 in December, while highlighting their pivotal role in reducing emissions and reaching climate targets.
Climate diplomacy has been picking up momentum in 2018. To celebrate Climate Diplomacy Week 2018, we collected our 10 best climate diplomacy stories of the year. Travel with us from Brussels to The Hague, Rio de Janeiro, New Delhi, Beijing and San Francisco.