Climate Risk Disclosure online demo, Zof Stott and Sophia Burke

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Zof Stott and Sophia Burke

About this talk

In response to a call from G20 leaders, the Financial Stability Board established the Task Force on Climate-Related Financial Disclosures (TCFD) to enhance transparency on the financial risks to investors from climate change which have subsequently published guidelines for voluntary, consistent climate-related financial risk disclosures covering the physical, liability and transition risks associated with climate change. Scenario analysis is being recommended as an important tool to assess the potential implications of these climate related risks and opportunities. However, a TCFD survey found that companies find scenario analysis the most challenging aspect of TCFD, due to a lack of data, and a lack of standardised metrics and targets. As such, companies have often avoided disclosing the results of scenario analysis, and the assumptions that have fed into the process. With data gaps acting as a barrier for better climate-related scenario analysis and disclosure, financial services firms have been seeking alternative sources. The ability of satellites to deliver global data on the Earth system, providing long-term and consistent Earth Observation (EO) datasets enable identification of significant trends and patterns. The talk will cover the range of space-enabled climate datasets and tools, often used in combination with other data sources, that can support quantitative scenario analyses and thus enable financial services firms to better analyse their climate risk, disclose their exposure and assess impact of green investment in a more robust and meaningful way.

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