Understanding the economic impacts of climate change: New UNEP FI-NIESR report

Presented by

David Carlin, TCFD Programme Lead, UNEP FI

About this talk

Climate change poses an unprecedented set of challenges. On May 13th, UNEP FI and the National Institute of Economic and Social Research (NIESR) will present the key learnings from their latest report “Economic Impacts of Climate Change: Exploring short-term climate related shocks for financial actors with macroeconomic models”. The report aims to advance the financial sector’s knowledge of applying macroeconomic models to climate change scenarios. The report explores the importance of short-term scenarios in providing insights into immediate threats to financial stability and the financial sector’s preparedness for them. As a part of this report, NIESR and UNEP FI developed three scenarios to model the short-term economic risks of climate-related events. The three scenarios are—(i) sudden rise in carbon price, (ii) spike in oil price and, (iii) trade war. Speakers: - David Carlin, TCFD Programme Lead, UNEP FI - Ian Hurst, Associate Research Director for Model Development, NIESR - Iana Liadze, Principal Economist, NIESR

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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.