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Developments in Climate Regulation and Disclosures (with SASB)

Join UNEP FI and the Sustainability Accounting Standards Board (SASB) to discuss the evolving world of climate regulation and TCFD disclosures. SASB will share perspectives on their standards and their relationship to climate risk. UNEP FI will discuss findings from its latest TCFD programs. The session will conclude with an open Q&A on the continuing development of climate standards and their role in the financial sector.
Recorded Jun 4 2020 97 mins
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UNEP FI | SASB
Presentation preview: Developments in Climate Regulation and Disclosures (with SASB)

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  • Financial Stability & Green Bonds: new ideas from leading thinkers Apr 13 2021 1:00 pm UTC 60 mins
    Massamba Thioye (UNFCCC), James Vaccaro (Re:Pattern)
    EIT Climate-KIC has partnered with UNEP FI to produce this ‘thought leadership’ series that aims to inspire financial actors worldwide to move from risk to alignment, challenge current assumptions around climate alignment and develop ideas and concepts on how alignment can best be achieved. We hope to encourage stakeholders that a proactive climate response is not only about disclosing risks, but also about investing in green opportunities that can enable the low emissions societies of the future. This series convenes innovators and industry experts to provoke discussion, challenge the status quo and guide the transformation of business and finance towards a sustainable future.
    UNEP FI and EIT Climate-KIC present the 5th and 6th papers of this Thought Leadership Series:

    “#5. Looking at Green Bonds Through the Right Lenses and Make Them Serve the Climate Goals"
    The fifth paper in this series will be presented by Massamba Thioye from UNFCCC, who proposes a reform of the current green bond framework to incentivize mainstream financiers to buy green bonds.

    "#6. Financial Stability in a Planetary Emergency: the role of regulatiors in a burning world"
    The sixth paper is from James Vaccaro, Director of Re:Pattern, who explores the leadership roles of regulators and the implications for financial institutions to accelerate the transition towards a resource-efficient and inclusive economy.
  • MinterEllison/UNEP FI: Climate Adaptation and Litigation Paper Launch Webinar Mar 16 2021 9:00 am UTC 60 mins
    MinterEllison and UNEP FI
    The Forgotten Climate-related Financial Risk: The Role of Climate Litigation in Adaptation and Adaptation Finance is a high level briefing paper that will explore the legal implications of adaptation (or a lack thereof) to climate change-related impacts. By reference to existing cases and the likely future direction of litigation, it will show how climate litigation can act as both a driver and consequence of adaptation or maladaptation.

    As a corollary of the analysis, observations will be drawn on the potential for litigation (or the risk / spectre of liability) to help overcome some of the barriers to scaling finance for adaptation identified by UNEP FI, such as: weak management of physical climate risk (CLF v ExxonMobil); lack of meaningful disclosure of climate risks (Abrahams v CBA); and moral hazard (Illinois Farmers).

    Understanding the role of climate litigation and liability as a catalyst of adaptation outcomes will contribute to the efficient pricing, and integration, of climate-related risk issues into financial decision-making, and assist in driving adaptation financing across the financial services sector. Conversely, if barriers to adaptation and adaptation financing are not removed, litigation may play a more prominent role as a driver of adaptation outcomes - albeit in a manner that is ad hoc, inefficient and expensive.

    The report will conclude with the key takeaways of the analysis for (a) banks; and (b) the (re)insurance sector (noting any complementarities with the TCFD analysis currently being undertaken by UNEP FI in its insurance stream, with PwC/Sabin Center).
  • Turning the Tide: How to Finance a Sustainable Ocean Recovery -Afternoon Webinar Recorded: Mar 2 2021 61 mins
    Dennis Fritsch, Project Coordinator Sustainable Blue Economy, UNEP FI
    Banks, insurers and investors have a major role to play in financing the transition to a sustainable blue economy, helping to rebuild ocean prosperity and restore biodiversity to the ocean. Through their lending, underwriting and investment activities, as well as their client relationships, financial institutions have a major impact on ocean health and hold the power to accelerate and mainstream the sustainable transition of ocean-linked industries.

    This webinar will unveil the launch of a practical toolkit for financial institutions to pivot their activities towards financing a sustainable blue economy. This new report outlines strategies to avoid and mitigate environmental and social risks and impacts, as well as make the most of opportunities, when providing capital to companies or projects within the blue economy.

    Finance leaders from banking, insurance and investment sectors will add their insight and explain how this new Guidance can help them in their business, followed by a general discussion on the potential of the sustainable blue economy.

    Speakers will include:
    - Brenda de Swart, Head Sustainability & Communications, RaboFinance Chile, Rabobank
    - Klaas de Vos, Consultant, Ocean Fox Advisory
    - Dennis Fritsch, Project Coordinator Sustainable Blue Economy, UNEP FI
    - Lucy Holmes, Senior Programme Manager – Seafood Finance, WWF
    - Rolando Morillo, Senior Vice President / Portfolio Manager of ESG Thematic Investment Strategies, Rockefeller Capital Management
    - Ilias P. Tsakiris, CEO, American Hellenic Hull Insurance Company
  • Turning the Tide: How to Finance a Sustainable Ocean Recovery - Morning webinar Recorded: Mar 2 2021 63 mins
    Dennis Fritsch, Project Coordinator Sustainable Blue Economy
    Banks, insurers and investors have a major role to play in financing the transition to a sustainable blue economy, helping to rebuild ocean prosperity and restore biodiversity to the ocean. Through their lending, underwriting and investment activities, as well as their client relationships, financial institutions have a major impact on ocean health and hold the power to accelerate and mainstream the sustainable transition of ocean-linked industries.

    This webinar will unveil the launch of a practical toolkit for financial institutions to pivot their activities towards financing a sustainable blue economy. This new report outlines strategies to avoid and mitigate environmental and social risks and impacts, as well as make the most of opportunities, when providing capital to companies or projects within the blue economy.

    Finance leaders from banking, insurance and investment sectors will add their insight and explain how this new Guidance can help them in their business, followed by a general discussion on the potential of the sustainable blue economy.

    Speakers will include:

    - Klaas de Vos, Consultant, Ocean Fox Advisory
    - Rowan Douglas, Head – Climate and Resilience Hub, Willis Towers Watson
    - Dennis Fritsch, Project Coordinator Sustainable Blue Economy, UNEP FI
    - Lucy Holmes, Senior Programme Manager – Seafood Finance, WWF
    - Emine Isciel, Head of Climate and Environment, Storebrand
    - Julia Manning, Associate Director, Senior Environmental Advisor, EBRD
  • A TCFD aligned climate hazard dataset for physical risk assessments Recorded: Feb 18 2021 62 mins
    Paul Smith (Moderator), Harilaos Loukos (CDF), Stijn Vermoote (European Centre for Medium-range Weather Forecasts))
    The use of authoritative datasets and data sources is a challenge for many financial institutions. A collaboration between the Climate Data Factory and the EU's Copernicus Climate Change Service is aiming to provide a climate hazards data set of reference for physical risk assessment that aligns with the recommendations of the TCFD, and that will also align with the needs of users from the finance sector.
  • Enhancing TCFD Climate Risk Assessments: Scenario analysis, tools & recs Recorded: Feb 17 2021 91 mins
    UNEP FI | CICERO
    UNEP FI's TCFD programme is launching 3 new papers in February 2021 relating to scenario analysis, recommendations on integrated assessment models, tools, the changing regulatory landscape as well as potential developments in 2021.

    Decarbonization and Disruption: Understanding the financial risks of a disorderly transition using climate scenarios covers two primary themes of relevance to financial institutions, with support from Oliver Wyman. First, it examines sector specific risk drivers that could result in a disorderly transition, making the argument that climate transition risk is a significant near-term threat to much of the economy. Second, the report explored how these risk drivers are currently being modeled in climate scenarios produced by major integrated assessment models (IAMs)

    Pathways to Paris: A practical guide to climate transition scenarios for financial professionals is a detailed guide, in partnership with CICERO, for financial sector practitioners looking to understand and apply climate scenarios in a financial risk context. Readers will gain insights into the key assumptions and sectoral coverage of the Integrated Assessment Models (IAMs) used to produce climate scenarios, as well as the benefits and limitations of using IAM-generated transition pathways. Finally, this paper provides a series of recommendations for enhancing the development and application of IAMs by financial institutions based on perspectives of participating banks that used UNEP FI’s transition risk methodology.

    The Climate Risk Landscape: Mapping Climate-related Financial Risk Assessment Methodologies provides a summary of the key developments across third party climate risk assessment providers since May 2019, including new and updated scenarios, methodological tools, key guidelines, as well as an overview of the changing regulatory landscape and potential developments into 2021.
  • Outlook for North America Climate Policy & Impact on Sustainable Finance Agenda Recorded: Feb 16 2021 62 mins
    UNEP FI
    This webinar discusses what the new climate policy in the US means for the finance industry.
  • Insuring the climate transition: The final report of UN PSI’s TCFD pilot project Recorded: Feb 11 2021 95 mins
    UNEP's Principles for Sustainable Insurance (PSI)
    Over the past year, 22 leading insurers have collaborated under UNEP’s Principles for Sustainable Insurance Initiative (PSI) to pilot state-of-the-art approaches—particularly the use of climate change scenarios—to better assess climate-related physical, transition and litigation risks in the insurance business. The overall aim of this PSI project is to contribute to the development of consistent and transparent analytical approaches that can be used to identify, assess and disclose climate-related risks and opportunities in insurance portfolios in a forward-looking, scenario-based manner. Endorsed by Mark Carney, UN Special Envoy on Climate Action & Finance and the UK Prime Minister’s Finance Adviser for COP26, the final report captures the key findings of the largest collaborative effort by insurers—representing over 10% of world premium and USD 6 trillion in assets—to pilot some of the most challenging recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD).
  • Insuring the climate transition: The final report of UN PSI’s TCFD pilot project Recorded: Feb 11 2021 95 mins
    UNEP's Principles for Sustainable Insurance (PSI)
    Over the past year, 22 leading insurers have collaborated under UNEP’s Principles for Sustainable Insurance Initiative (PSI) to pilot state-of-the-art approaches—particularly the use of climate change scenarios—to better assess climate-related physical, transition and litigation risks in the insurance business. The overall aim of this PSI project is to contribute to the development of consistent and transparent analytical approaches that can be used to identify, assess and disclose climate-related risks and opportunities in insurance portfolios in a forward-looking, scenario-based manner. Endorsed by Mark Carney, UN Special Envoy on Climate Action & Finance and the UK Prime Minister’s Finance Adviser for COP26, the final report captures the key findings of the largest collaborative effort by insurers—representing over 10% of world premium and USD 6 trillion in assets—to pilot some of the most challenging recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD).
  • Science-Based Target Setting on Biodiversity Recorded: Feb 10 2021 63 mins
    The PRI and UNEP FI
    Many companies are already setting climate science based targets (SBTs) to reduce their greenhouse gas emissions. Companies are now also considering nature science based targets in order to operate within planetary boundaries.

    The PRI and UNEP FI are co-hosting this webinar with experts to discuss:
    - What are science based targets for nature?
    - How is a net zero emission target being applied and how does this compare with science based targets for nature?
    - What needs to be considered in a methodology?
    - What are the gaps?
    - How are companies setting biodiversity targets?

    Speakers include:
    Erin Billman, Executive Director, SBTN
    Chris Weber, Technical Director, SBTN
    Helen Crowley, Head of Sustainable Sourcing Innovation, Kering
    Bouke de Vries, Lead Rabobank Climate Program, Advisor to the Board on Public Affairs, Rabobank
    Annick Paradis, Executive Director, Pollination Group
    Moderated by Gemma James, Head of Environmental Issues, PRI
  • Aligning finance for the net zero economy: new ideas from leading thinkers Recorded: Feb 9 2021 76 mins
    John Elkington & Richard Roberts (Volans); Jakob Thomä & Anne Schönauer (2DII)
    EIT Climate-KIC has partnered with UNEP FI to produce this ‘thought leadership’ series that aims to inspire financial actors worldwide to move from risk to alignment, challenge current assumptions around climate alignment and develop ideas and concepts on how alignment can best be achieved. We hope to encourage stakeholders that a proactive climate response is not only about disclosing risks, but also about investing in green opportunities that can enable the low emissions societies of the future. This series convenes innovators and industry experts to provoke discussion, challenge the status quo and guide the transformation of business and finance towards a sustainable future.
    UNEP FI and EIT Climate-KIC present the 3rd and 4th papers of this Thought Leadership Series:

    “#3. Innovation and Tranformation: What It Will Take to Finance Net Zero"
    The third paper in this series will be presented by Richard Roberts and John Elkington, who explore the fundamental shift in the purpose and practice of finance - as well as the policies that determine the "rules of the game" - required to align our economy with a 1.5°C Low Energy Demand (LED) scenario.

    "#4. Finance 2030: A Time Travel Exercise"
    The fourth paper is from Jakob Thomä and Anne Schoenauer, who present a thought experiment into the key characteristics that will define the finance sector in 2030 in response to the economic transition arising from climate risks, public health challenges and economic and societal transformation.
  • UNEP FI @ Climate Adaptation Summit : Part 2 Recorded: Jan 25 2021 48 mins
    David Carlin (UNEP FI); Marieke Bonekamp (Rabobank); David Goldsworthy (Standard Bank)
    UNEP FI is hosting a side event at the Climate Adaptation Summit, focusing on climate-related physical risk. Leading financial institutions will announce their commitment to climate-related physical risk assessment and disclosure, while announcing a ‘call to action’ to the finance sector to address the principal obstacles to greater disclosure. This second part of the side event will present UNEP FI's work on physical climate risks through our TCFD pilot program and showcase how two banks are engaging clients on climate impacts.
  • UNEP FI @ Climate Adaptation Summit : Part 1 Recorded: Jan 25 2021 66 mins
    Remco Fischer (UNEP FI), Adi Mukherjee (SC), Niranjan Banodkar (Yes Bank), Antoine Boirard (BdF/NGFS)
    UNEP FI is hosting a side event at the Climate Adaptation Summit, focusing on climate-related physical risk. Leading financial institutions will announce their commitment to climate-related physical risk assessment and disclosure, while announcing a ‘call to action’ to the finance sector to address the principal obstacles to greater disclosure. This first part of UNEP FI's side event will include an introduction from Eric Usher, Bas Rüter and Emma Howard Boyd, followed by a panel on physical risk and adaptation, hosted by UNEP FI's Climate Lead, Remco Fischer, with Niranjan Banodkar (Yes Bank), Adi Mukherjee (Standard Chartered) and Antoine Boirard (Banque de France & NGFS).
    Keynote: Eric Usher (Head, UNEPFI) & Bas Rüter (Director of Sustainability, Rabobank)
    Panel event:
    Remco Fischer (UNEPFI, moderator); Niranjan Banodkar (CFO, Yes Bank); Adityadeb Mukherjee (Head of Climate Risk, Standard Chartered); Antoine Boirard, (sustainable finance analyst, BdF/NGFS)
  • Webinar on Financial Inclusion and Financial Health Recorded: Dec 16 2020 92 mins
    UNEP FI
    This webinar aims to explore how financial inclusion through a strategic partnership approach and the health ecosystem can help improve country needs and support the implementation of the Sustainable Development Goals, particularly building societal resilience and closing inequality gaps.
  • Info Session: Principles for Responsible Banking - Civil Society Advisory Body Recorded: Nov 25 2020 40 mins
    UNEP FI Secretariat
    As committed to by the Signatories to the Principles for Responsible Banking, UNEP FI is now establishing the Civil Society Advisory Body to support and advise Signatories in implementing the Principles for Responsible Banking. During this info session, the UNEP FI Secretariat and Banking Board representatives will present the Advisory Body's role and responsibilities, and application process.

    For more information, please visit: https://www.unepfi.org/prb-civil-society-advisory-body/
  • Financing a Resilient Future: Target Setting for Climate and Nature Recorded: Nov 12 2020 92 mins
    UNEP FI | Carbon Trust
    The Paris Agreement signalled an acceleration in the transition to a low carbon economy. Many institutions are already making ambitious commitments to making this a reality – but they also need ambitious emissions reduction targets that ensure the transformational action they take is aligned with current planetary needs. At the same time, the world hasn’t fully met any of the 20 biodiversity targets set by global governments a decade ago

    This webinar provides insights on next steps in target setting for climate and nature, how organisations are making ambitious commitments and implications for their businesses.
  • Insuring a Sustainable Ocean Economy: A Deep Dive for the Insurance Industry Recorded: Nov 10 2020 92 mins
    UNEP FI Butch Bacani, Dennis Fritsch, Cara Wilson | AXA XL Chip Cunliffe | Gallagher Daniel Fairweather | IUMI Richard Turner
    The ocean’s health and integrity is critical to providing oxygen, food and other resources; absorbing carbon emissions and heat; and building coastal resilience. However, it is under immense pressure from unsustainable development, including destructive fishing practices, carbon-intensive shipping, acidification and pollution. Modern-day insurance’s roots can be traced to the maritime industry, and the insurance industry’s relationship with the ocean economy continues to evolve. From shipping, fisheries and tourism; to aquaculture, energy, biotechnology and nature-based solutions for coastal protection and blue carbon, the insurance industry’s risk management, insurance and investment activities can play a key role in ensuring a sustainable ocean economy.

    Join leading insurers and the United Nations Environment Programme Finance Initiative (UNEP FI) to discuss sustainability challenges and opportunities in the context of the 21st century ocean economy, and find out how to get involved in UNEP FI’s new Sustainable Blue Economy Finance Initiative to develop sustainable finance strategies and approaches to ocean-based industries.

    Moderator:
    Butch Bacani, Programme Leader, UNEP Principles for Sustainable Insurance Initiative (PSI)

    Panellists:
    Chip Cunliffe, Director of Sustainable Development, AXA XL
    Daniel Fairweather of Gallagher, Director of livestock, aquaculture and fisheries, Gallagher Insurance
    Richard Turner, President IUMI, International Union of Marine Insurance
    Cara Wilson, Secretariat, UNEP FI Sustainable Blue Economy Finance Initiative
    Dennis Fritsch, Secretariat, UNEP FI Sustainable Blue Economy Finance Initiative
  • Insuring a Sustainable Ocean Economy: A Deep Dive for the Insurance Industry Recorded: Nov 10 2020 92 mins
    UNEP FI Butch Bacani, Dennis Fritsch, Cara Wilson | AXA XL Chip Cunliffe | Gallagher Daniel Fairweather | IUMI Richard Turner
    The ocean’s health and integrity is critical to providing oxygen, food and other resources; absorbing carbon emissions and heat; and building coastal resilience. However, it is under immense pressure from unsustainable development, including destructive fishing practices, carbon-intensive shipping, acidification and pollution. Modern-day insurance’s roots can be traced to the maritime industry, and the insurance industry’s relationship with the ocean economy continues to evolve. From shipping, fisheries and tourism; to aquaculture, energy, biotechnology and nature-based solutions for coastal protection and blue carbon, the insurance industry’s risk management, insurance and investment activities can play a key role in ensuring a sustainable ocean economy.

    Join leading insurers and the United Nations Environment Programme Finance Initiative (UNEP FI) to discuss sustainability challenges and opportunities in the context of the 21st century ocean economy, and find out how to get involved in UNEP FI’s new Sustainable Blue Economy Finance Initiative to develop sustainable finance strategies and approaches to ocean-based industries.

    Moderator:
    Butch Bacani, Programme Leader, UNEP Principles for Sustainable Insurance Initiative (PSI)

    Panellists:
    Chip Cunliffe, Director of Sustainable Development, AXA XL
    Daniel Fairweather of Gallagher, Director of livestock, aquaculture and fisheries, Gallagher Insurance
    Richard Turner, President IUMI, International Union of Marine Insurance
    Cara Wilson, Secretariat, UNEP FI Sustainable Blue Economy Finance Initiative
    Dennis Fritsch, Secretariat, UNEP FI Sustainable Blue Economy Finance Initiative
  • Implementing Holistic Impact Analysis: Early Adopters, Updates & Guidance (PM) Recorded: Oct 29 2020 93 mins
    UNEP FI | Positive Impact Initiative
    In April 2020 UNEP FI launched two ground-breaking tools: the Bank Portfolio Impact Analysis Tool and the Corporate Impact Analysis Tool. The Tools’ unique holistic methodology enable banks to understand the actual and potential positive and negative impacts associated with their business across the spectrum of environmental, social and economic issues. While the Portfolio Tool enables a top-down portfolio level analysis, the Corporate Tool enables a bottom-up review of financial institution’s main and systemically important clients.

    After six months of 6 months implementation by practitioners, UNEP FI releases a detailed User Manual as well as the first updates to its in-built country needs assessment framework, one of several unique in-built resources of the Tools.

    Join us on 29th October for an interactive walk-through of the tool, featuring the experiences and learnings of the Tools’ early users.

    Speakers:
    Simon Stücheli, Sustainability Affairs, Credit Suisse
    Niklas Rydberg, Business Areas Lead, Group Sustainable Finance, Nordea
    Mauricio Burbano, Produbanco
    Mandeep Sidhu, Consultant, Partnerships - Community Investment, Vancity
    Careen Abb, Programme Lead, Positive Impact Finance, UNEP FI
    Dr Penny Apostolaki, VP, Sustainability and ESG, Barclays
  • Implementing Holistic Impact Analysis: Early Adopters, Updates & Guidance (AM) Recorded: Oct 29 2020 89 mins
    UNEP FI | Positive Impact Initiative
    In April 2020 UNEP FI launched two ground-breaking tools: the Bank Portfolio Impact Analysis Tool and the Corporate Impact Analysis Tool. The Tools’ unique holistic methodology enable banks to understand the actual and potential positive and negative impacts associated with their business across the spectrum of environmental, social and economic issues. While the Portfolio Tool enables a top-down portfolio level analysis, the Corporate Tool enables a bottom-up review of financial institution’s main and systemically important clients.

    After six months of 6 months implementation by practitioners, UNEP FI releases a detailed User Manual as well as the first updates to its in-built country needs assessment framework, one of several unique in-built resources of the Tools.

    Join us on 29th October for an interactive walk-through of the tool, featuring the experiences and learnings of the Tools’ early users.

    Speakers:
    Jana Platau-Wagner, ESG Lead - Risk Strategy, Bank of Ireland
    Nermin El Ghazali, Strategy and Change Management, Banque Misr
    Mette Kornvig, Head of Regulation, Capital Markets, Jyske Bank
    Rosemary Bissett, Head of ESG Risk Management, National Australia Bank
    Cansu Oğuz, CSR & Sustainability Management, Yapi Kredi
    Careen Abb, Programme Lead, Positive Impact Finance, UNEP FI
UNEP FI
United Nations Environment Programme Finance Initiative (UNEP FI) is a partnership between United Nations Environment and the global financial sector created in the wake of the 1992 Earth Summit with a mission to promote sustainable finance. More than 240 financial institutions, including banks, insurers, and investors, work with UN Environment to understand today’s environmental, social and governance challenges, why they matter to finance, and how to actively participate in addressing them.

UNEP FI’s work also includes a strong focus on policy – by facilitating country-level dialogues between finance practitioners, supervisors, regulators and policy-makers, and, at the international level, by promoting financial sector involvement in processes such as the global climate negotiations.

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  • Title: Developments in Climate Regulation and Disclosures (with SASB)
  • Live at: Jun 4 2020 3:00 pm
  • Presented by: UNEP FI | SASB
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