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Insurance Supervisors and Climate Action

Climate change, as well as the global response to the threats of climate change, is having wide-ranging impacts on the structure and functioning of the global economy and financial system. The challenges related to climate change present both risks and opportunities for the insurance sector. To support supervisors in their efforts to integrate climate-related risks into supervisory frameworks, the International Association of Insurance Supervisors (IAIS) and the UN-convened Sustainable Insurance Forum (UN SIF) have jointly developed an Application Paper on the Supervision of Climate-related Risks in the Insurance Sector.

The Application Paper provides background and guidance on how the IAIS supervisory material can be used to manage the challenges and opportunities arising from climate-related risks. Application Papers do not establish standards or expectations, but instead provide additional guidance to assist implementation and provide examples of good practice. This Paper thereby also aims to promote a globally consistent approach to addressing climate-related risks in the supervision of the insurance sector.

The following topics and Insurance Core Principles (ICPs) are in scope:

• Supervisory Review and Reporting (ICP 9)
• Corporate Governance (ICP 7)
• Risk Management (ICP 8 and 16)
• Investments (ICP 15); and
• Disclosures (ICP 20)
Recorded Jun 15 2021 92 mins
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Co-hosted by the UN-convened SIF, UN PSI and the IAIS
Presentation preview: Insurance Supervisors and Climate Action

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  • Launch: UNEP FI Investment Portfolio Impact Analysis Tool Jun 30 2021 11:00 am UTC 90 mins
    UNEP FI
    The Investment Portfolio Impact Analysis Tool was developed to enable signatories to the Principles for Responsible Banking (PRB) to meet their requirements under Principle 2 on impact analysis, namely as a basis for meeting their subsequent requirements under Principle 3 on target-setting. It complements the Bank Portfolio Impact Analysis Tool which focuses on Consumer, Business, Corporate and Investment Banking.

    Features:
    • Enables Fund or Portfolio level analysis
    • Asset classes covered include fixed income, equity and real estate, among others
    • Includes new mappings, including an asset class/impact map and several asset class-specific mappings
    • Uses the Principles for Responsible Investment asset class classification & enriched GICS sector classification
    • Includes an in-built Indicator Library
    The methodology was derived from UNEP FI’s unique holistic approach to impact and the Sustainable Development Goalss, as developed by its Positive Impact Initiative (PII), as such it is aligned with the Principles for Positive Impact Finance and is based on the 22 ‘impact areas’ of the UNEP FI Impact Radar. The Tool’s in-built resources, are based on internationally recognised standards from within and beyond the UN System.

    The Investment Portfolio Impact Analysis Tool is a live resource, designed to evolve over time in order to constantly improve user experience and benefits.
  • Launch: UNEP FI Real Estate Impact Analysis Tool Recorded: Jun 17 2021 82 mins
    UNEP FI
    The Real Estate Impact Analysis Tool was developed to enable financial institutions to identify and assess the impacts associated with their real estate investments and portfolios. The purpose of such an analysis is for financial institutions to define strategies and set targets that will increase the positive impacts and decrease the negative impacts of their real estate investments and portfolios.

    Features:
    • Builds on the UNEP FI Positive Impact Real Estate Investment Framework Model Framework, based on the 22 impact areas of the UNEP FI Impact Radar
    • Enables Single Asset analysis or Fund/Portfolio level analysis
    • Applicable for new developments and exiting assets
    • Is compatible with GRESB
    • Enables both country level and local level contextualisation (needs assessment)
    The methodology was derived from UNEP FI’s unique holistic approach to impact and the SDGs, as developed by its Positive Impact Initiative (PII), as such it is aligned with the Principles for Positive Impact Finance and is based on the 22 ‘impact areas’ of the UNEP FI Impact Radar. The Tool’s in-built resources, are based on internationally recognised standards from within and beyond the UN System.

    The Real Estate Impact Analysis Tool is a live resource, designed to evolve over time in order to constantly improve user experience and benefits.
  • Insurance Supervisors and Climate Action Recorded: Jun 15 2021 92 mins
    Co-hosted by the UN-convened SIF, UN PSI and the IAIS
    Climate change, as well as the global response to the threats of climate change, is having wide-ranging impacts on the structure and functioning of the global economy and financial system. The challenges related to climate change present both risks and opportunities for the insurance sector. To support supervisors in their efforts to integrate climate-related risks into supervisory frameworks, the International Association of Insurance Supervisors (IAIS) and the UN-convened Sustainable Insurance Forum (UN SIF) have jointly developed an Application Paper on the Supervision of Climate-related Risks in the Insurance Sector.

    The Application Paper provides background and guidance on how the IAIS supervisory material can be used to manage the challenges and opportunities arising from climate-related risks. Application Papers do not establish standards or expectations, but instead provide additional guidance to assist implementation and provide examples of good practice. This Paper thereby also aims to promote a globally consistent approach to addressing climate-related risks in the supervision of the insurance sector.

    The following topics and Insurance Core Principles (ICPs) are in scope:

    • Supervisory Review and Reporting (ICP 9)
    • Corporate Governance (ICP 7)
    • Risk Management (ICP 8 and 16)
    • Investments (ICP 15); and
    • Disclosures (ICP 20)
  • Insurance Supervisors and Climate Action Recorded: Jun 14 2021 92 mins
    Co-hosted by the UN-convened SIF, UN PSI and the IAIS
    Climate change, as well as the global response to the threats of climate change, is having wide-ranging impacts on the structure and functioning of the global economy and financial system. The challenges related to climate change present both risks and opportunities for the insurance sector. To support supervisors in their efforts to integrate climate-related risks into supervisory frameworks, the International Association of Insurance Supervisors (IAIS) and the UN-convened Sustainable Insurance Forum (UN SIF) have jointly developed an Application Paper on the Supervision of Climate-related Risks in the Insurance Sector.

    The Application Paper provides background and guidance on how the IAIS supervisory material can be used to manage the challenges and opportunities arising from climate-related risks. Application Papers do not establish standards or expectations, but instead provide additional guidance to assist implementation and provide examples of good practice. This Paper thereby also aims to promote a globally consistent approach to addressing climate-related risks in the supervision of the insurance sector.

    The following topics and Insurance Core Principles (ICPs) are in scope:

    • Supervisory Review and Reporting (ICP 9)
    • Corporate Governance (ICP 7)
    • Risk Management (ICP 8 and 16)
    • Investments (ICP 15); and
    • Disclosures (ICP 20).
  • Aligning Financial Portfolios with Biodiversity Goals Recorded: May 26 2021 58 mins
    UNEP FI, UNEP-WCMC & Global Canopy, with special guests: Credit Suisse and Citi
    Expert Speakers: Jessica Smith (UNEP FI), Sebastian Bekker (UNEP-WCMC), Niki Mardas (Global Canopy), Raul Manjarin (Credit Suisse), Frazer Lanier (Citi).

    Alongside tackling climate-related risks, financial institutions are increasingly looking to address the critical issue of biodiversity and nature loss. Momentum is building in the run up to the 2021 United Nations biodiversity conference, CBD COP 15, where countries are expected to set new targets for conserving plants and animals across land and oceans.

    Join us as we launch a ground-breaking new biodiversity module – part of the online ENCORE tool – which will enable financial institutions to identify and manage biodiversity-related risks and opportunities.

    At the cutting-edge of sustainable finance, over 30 financial institutions have been involved in the development of the module, which focuses on the agriculture and mining sectors and allows banks and investors to answer the following questions:
    - Are my financial assets at risk from biodiversity loss?
    - Am I dependent on biodiversity through my investment or lending portfolio?
    - Am I harming or building the resilience of biodiversity with my investments?

    Using this key information, and in combination with other tools, financial institutions can be in a position to start setting biodiversity targets across their activities. Join our experts to learn how the tool can work for you and hear from some of the banks and investors who have been beta-testing the tool on why this could be a turning point for the industry.

    ENCORE stands for ‘Exploring Natural Capital Opportunities, Risks and Exposure’; developed by the UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC), the UN Environment Programme Finance Initiative (UNEP FI) and Global Canopy. Collectively these organisations represent the Natural Capital Finance Alliance (NCFA). ENCORE is generously funded by the Swiss Federal Office for the Environment.
  • Aligning Financial Portfolios with Biodiversity Goals Recorded: May 26 2021 59 mins
    UNEP FI, UNEP-WCMC & Global Canopy with special guests FirstRand Group and Piraeus Financial Holdings
    Expert Speakers: Jessica Smith (UNEP FI), Sebastian Bekker (UNEP-WCMC), Niki Mardas (Global Canopy), Madeleine Ronquest (FirstRand Group) & Dimitrios Dimopoulos (Piraeus Financial Holdings)

    Alongside tackling climate-related risks, financial institutions are increasingly looking to address the critical issue of biodiversity and nature loss. Momentum is building in the run up to the 2021 United Nations biodiversity conference, CBD COP 15, where countries are expected to set new targets for conserving plants and animals across land and oceans.

    Join us as we launch a ground-breaking new biodiversity module – part of the online ENCORE tool – which will enable financial institutions to identify and manage biodiversity-related risks and opportunities.

    At the cutting-edge of sustainable finance, over 30 financial institutions have been involved in the development of the module, which focuses on the agriculture and mining sectors and allows banks and investors to answer the following questions:
    - Are my financial assets at risk from biodiversity loss?
    - Am I dependent on biodiversity through my investment or lending portfolio?
    - Am I harming or building the resilience of biodiversity with my investments?

    Using this key information, and in combination with other tools, financial institutions can be in a position to start setting biodiversity targets across their activities. Join our experts to learn how the tool can work for you and hear from some of the banks and investors who have been beta-testing the tool on why this could be a turning point for the industry.

    ENCORE stands for ‘Exploring Natural Capital Opportunities, Risks and Exposure’; developed by the UN Environment Programme World Conservation Monitoring Centre (UNEP-WCMC), the UN Environment Programme Finance Initiative (UNEP FI) and Global Canopy. Collectively these organisations represent the Natural Capital Finance Alliance (NCFA). ENCORE is generously funded by the Swiss Federal Office for the Environment.
  • Launch: UNEP FI’s Portfolio Impact Analysis Tool for Banks - Version 2 Recorded: Apr 29 2021 92 mins
    UNEP FI
    One year after the launch of its first Portfolio Impact Analysis Tool for Banks, UNEP FI is pleased to launch Version 2 (V2) of the Portfolio Impact Analysis Tool for Banks. Designed to support banks in their implementation of their impact analysis requirements under the Principles for Responsible Banking (PRB), the Tool has received its first upgrade after a year of piloting by PRB Signatories.

    New features include a dedicated section to support and document users’ preliminary scoping work, increased capacity, a revised assessment section, including a new, in-built indicator library as well as a dashboard visualisation of the final outcomes of the analysis.

    V2 also includes numerous enhancements to user experience and will come with an updated User Guide. The new User Guide includes tips on how to apply UNEP FI’s unique holistic impact methodology with or without ‘off-the-shelf’ usage of the Tool.

    Join us for a walk-through of V2, and insights from users, as well as to find out what’s next in this vibrant part of UNEP FI’s work.
  • Climate Change Litigation and Liability Risks in Adaptation Activities & Finance Recorded: Apr 20 2021 70 mins
    Sarah Barker, Ellie Mulholland, Josh Dellios (MinterEllison) | Eric Usher (UNEP FI) | Vessy Haralampieva (EBRD)
    To explore adaptation finance from a litigation perspective, UNEP FI has collaborated with MinterEllison to examine how litigation may increase or reduce the barriers to adaptation finance identified in the earlier reports. The output of this collaboration, a high-level briefing paper “Liability Risk and Adaptation Finance: Legal action as a driver and consequence of climate-related physical risk adaptation”, will be launched at this event.

    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 banks and investors.
  • Aligning finance for the net-zero economy: new ideas from leading thinkers Recorded: Apr 13 2021 70 mins
    Massamba Thioye (UNFCCC) | James Vaccaro & David Barmes (Climate Safe Lending Network)
    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. Making Green Bonds 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 regulators in a burning world"
    The sixth paper is from James Vaccaro, Director of Re:Pattern and David Barmes, Economist at Positive Money, who explore the leadership roles of regulators and the implications for financial institutions to accelerate the transition towards a resource-efficient and inclusive economy.
  • 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)
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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  • Live at: Jun 15 2021 8:00 am
  • Presented by: Co-hosted by the UN-convened SIF, UN PSI and the IAIS
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