Use of scenarios for assessing climate-related financial risk and opportunity

Organizers: Seth Montieth (ClimateWorks), Chris Weber (WWF)


MONDAY - Joy Burns Center 231

4:00-4:15 PM
Chris Weber, WWF & Elmar Kriegler, PIK

4:15-4:25 PM
ClimINVEST – From physical risk scenarios to financial indicators – a co-production approach between climate experts and the finance sector
Florian Gallo, Carbone 4
4:25-4:30 PM: Q&A

4:30-4:40 PM
Responding to the TCFD recommendations and using scenario analysis to address physical climate risks in financial institutions
Laura Canevari, Acclimatise
4:40-4:45 PM: Q&A

4:45-4:55 PM
Implications of the Paris Agreement for Stranded Assets in the Latin America and the Caribbean Power Sector
Matthew Binsted, Joint Global Change Research Institute
4:55-5:00 PM: Q&A

5:00-5:10 PM
Company climate planning and global climate scenarios - opportunities and issues
Steven Rose, Electric Power Research Institute (EPRI)
5:10-5:15 PM: Q&A

5:15-5:5:25 PM
Energy investment needs for fulfilling the Paris Agreement and achieving the Sustainable Development Goals
Bas van Ruijven, International Institute for Applied Systems Analysis
5:25-5:30 PM: Q&A

5:30-5:45 PM

This session will present the latest research from practitioners and researchers as well as create a space for discussion on the missing elements and data gaps as they relate to assessing climate-related financial risk. The basic concept is that increased visibility, better access to data and analysis will better enable how climate-related financial risks are assessed and ultimately managed in the real economy, over shorter and longer temporal scales, in the context of socioeconomic development. Companies, investors, insurers, and regulators can evaluate risks as they relate to the transition away from emissions-intensive activities (transition risk) as well as exposure to a changing climate (physical risk). This requires a major translation exercise as scenarios including climate and development are turned into insights for investment portfolios, used as a basis for climate risk assessment frameworks, and used in the creation of benchmarks and targets for disclosures.
The proposed flow of this session will be for a panel of speakers (4-5) to briefly present (5-10 minutes) the latest development in this translation exercise and then open the conversation up to the room in order to discuss what opportunities might exist between the scientific and modeling community and financial practitioners.

Though the finance community is large, disperse and mixed in its approach to climate change, they are a new and important audience from climate scenarios. This session offers an opportunity for scientists and researchers to sit down with those practitioners most active in translating climate scenarios into use climate-related financial risk assessment.