Within banking and the financial sector, climate risk will be an inevitable challenge in the coming years and addressing it is key to building sustainable solutions, that will echo across the financial landscape and beyond. From stress testing to climate transition risks, the responses from the financial sector shows various solutions to the impending question: How do we build a greener future? We’ve spoken to some of the leading people in the industry to get their insights on how to approach climate risks.
How have ESG demands changed insurance investment strategy? How can you achieve alignment of new and existing investments with ESG commitments and how can you achieve alignment of new and existing investments with ESG commitments?
These are just few of the topics our panellists discussed in this exciting webinar, that you can watch on-demand. Join the conversation here and get insights on how to develop your investment strategy to meet the growing environmental demands.
“Working in partnership with the businesses to help them to see climate change not as a constraint on the business, but as a driver of growth opportunities, is also critical to the long-term success of your climate change programme.”
Banks and insurers are spending significant time, effort and money on their climate risk programmes right now. But embedding climate risk successfully in decision-making in the first and second lines is challenging. James Belmont, Partner, Climate Risk Lead and Julien Wallen, Head of EMEA Financial Markets Advisory, BlackRock set out set out the five key lessons learnt from supporting several of the early movers on their climate change journeys.
Get the full insights into how you can create an enduring approach to climate risk and stress testing here.
"Through intense global collaboration, more and more organisations are embracing the opportunities and value that sustainability can bring. I have had the pleasure of exchanging notes with many senior leaders in the financial industry on ways to incorporate sustainability concerns into investment and risk management practices, while unlocking commercial value in the process."
Beyond compliance, how can sustainability be a growth opportunity? In the past year, many governments in Asia committed to work towards carbon neutrality, and regulators across Asia are introducing guidelines and mandatory reporting.
Let Karen Tan, Chief Risk Officer, Reinsurance Asia, Swiss Re, walk you through these recent developments and share her vision for a sustainable industry here.
"Climate change risks have been classified into two main categories: physical risk and transition risk. While physical risk arises from the increasing frequency and severity of events related to climate change - both extreme events (landslides, floods, fires and storms) and gradual long-term changes."
Learn about transition risk, i.e. the financial loss that an institution may incur, directly or indirectly, as a result of the process of adjusting to a low-carbon economy, and find out how you can measure transition risk for the banking sector here.