Climate Risk Podcast
Climate Risk Podcast
GARP
Hello and welcome to GARP’s Climate Risk Podcast series, where we will be investigating how climate change is impacting the world of business and finance and what this means for risk management. Through the course of this series we will be bringing you insights from those working at the cutting edge of climate change. We will be joined by regulators, business leaders and risk practitioners who will help us build up a holistic view of the risks and opportunities that climate change poses and explore how this might affect you in your day to day work.
EU Deforestation Directive: Overcoming Challenges in Supply Chain Transparency
Hear from Thomas Vaassen, Co-Founder and CEO of Meridia, to learn how the EU Deforestation Directive is changing the nature of data required across supply chains. Supply chains are becoming an ever-greater focus for risk professionals. Firms increasingly want to measure the carbon footprint of their suppliers, or better understand their resilience, in the face of increasingly severe weather shocks. We are also seeing legislation driving greater transparency, which hinges on our ability to get accurate data. Although often taken for granted in the developed world, having good quality data on property rights is not a given in many parts of the world and this, in turn, makes analysis of complex and often remote components of supply chains very challenging. That’s why today’s episode will focus on: How legislation, such as the European Deforestation regulation, is changing the data landscape for firms; The practical challenges for obtaining good quality property rights data in remote locations; and How the world of data might change over coming years, with advances in technology and data collection.  To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: [email protected] Speaker’s bio Thomas Vaassen, Co-Founder and CEO of Meridia Thomas is currently the CEO of Meridia, a data partner that focuses on traceability and transparency, living income, and regenerative agriculture. Prior to this role, he was the Founder and CTO of Meridia, where they provided affordable land documentation to smallholder farmers. Thomas also served as the Program Director of the Investment Ready Program NL, where he helped green ventures prepare for investment and growth. Thomas has a background in managing social and sustainable initiatives, as Managing Director of Impact Hub Amsterdam, and the Chairman of the Board for Impact Hub Association. Additionally, he co-founded Blik-Opener, an organization that offers career coaching and development programs. Thomas also has experience in consulting, as a Founding Partner of Realize!, a consulting company that specializes in organizing for fast growth.
Feb 8, 2024
36 min
What We Learned About Climate Risk in 2023
Hear from Jo Paisley and Maxine Nelson of the GARP Risk Institute as they look back on key learnings from the latest season of the Climate Risk Podcast. As we head into 2024, Jo and Maxine look back at the past year of Climate Risk Podcasts, reviewing key learnings from our guests and discussing ongoing trends in climate risk management. From academics to ambassadors, CEOs to entrepreneurs, we’ve upheld our promise to showcase a variety of different perspectives on climate risk and sustainability. This episode re-examines the rich knowledge that has been shared on the Climate Risk Podcast over the last 12 months, creating a narrative of climate and nature risk wisdom to guide our listeners through this fast-moving field. So, today’s episode will explore: What we’ve learnt about the physical risks associated with climate change and nature loss; The key risks that arise in the transition to a net-zero world; and How financial firms are managing these risks. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center:  https://www.garp.org/sustainability-climate Links to featured episodes: David Schimel and Pooja Khosla - Bridging the Gap between Climate Science and Risk Management Dr. Erica Thompson - The Power and Pitfalls of Models in Climate Risk Management Rohan Hamden - Why Extreme Climate Physical Risks Are Closer Than You Might Think Mike Azlen - The Future of the Carbon Markets Explained for Risk Professionals Dr. Nicola Ranger - Balancing Mitigation and Adaptation: Insights for the Financial Sector Simon Zadek - TNFD and Beyond: An Introduction to Nature in Finance Professor Jo Handelsman - Soil: An Invisible Crisis and Massive Climate Opportunity Nigel Topping - The COP28 Survival Guide: How it Works and What to Expect Jane Stevensen - License to Drill: What New Oil & Gas Extraction Means for the Energy Transition Nicky Dee - From Startup to Sustainability: Innovating For The Climate Emergency Natalia Dorfman - Powerful Risk Management: Insurance Foundations for High-Integrity Carbon Markets Carys Taylor - How Film and Television Are Adapting to Climate Change Chris Howland and Lars Popken - Embedding Climate Within Risk Management: A Practitioner’s Guide Ron Dembo - Dealing with Uncertainty in Scenario Analysis: Stochastic vs. Deterministic Approaches  Also discussed in this episode: GARP Whitepaper - Biodiversity Loss: An Introduction for Risk Professionals    Today’s Speakers Jo Paisley, President, GARP Risk Institute Maxine Nelson, Ph.D, Senior Vice President, GARP Risk Institute
Jan 18, 2024
40 min
The Power and Pitfalls of Models in Climate Risk Management
Hear from Dr. Erica Thompson, as we examine the modelling ecosystem and when we need to escape it to make real-world decisions. Climate science – like many areas of our lives, such as economics or public health – is based upon models. These models are often used to justify certain courses of action, such as investments in climate mitigation or adaptation, or even lock downs during the pandemic. But what makes a ‘good model’?  Is it purely how well it forecasts?  Or are there other aspects that we need to consider, such as reliability, complexity, and how well it deals with uncertainty? And who gets to decide how good a model is? In this episode, we’ll take a closer look at these questions and explore some of the nuances of models, including: ·       How to judge how good a model is, ·       The vital importance of understanding the values which underpin models ·       And how models have the power to shape the very future which they forecast. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: [email protected] Links from today’s discussion: Praise for Escape From Model Land: https://www.ericathompson.co.uk/books/ IPCC Working Group III 2022 Mitigation of Climate Change report: https://www.ipcc.ch/report/ar6/wg3/downloads/report/IPCC_AR6_WGIII_SummaryForPolicymakers.pdf Yale’s William Nordhaus wins 2018 Nobel Prize in Economics: https://news.yale.edu/2018/10/08/yales-william-nordhaus-wins-2018-nobel-prize-economic-sciences   Speaker’s Bio Erica Thompson, Associate Professor of Modelling for Decision Making at UCL’s Department of Science, Technology, Engineering and Public Policy Erica’s book, Escape from Model Land: How Mathematical Models Can Lead Us Astray and What We Can Do About It, was published in December 2022 and was shortlisted for Best Maths Book of 2022 by Chaulkdust Magazine, a specialist magazine for mathematicians. Erica moved into her current role in April 2023, where she investigates the appropriate use of mathematical modelling to support real-world decisions, from mathematical and statistical questions about methodologies of inference from models, to psycho-social questions about the formation of confidence and the role of expert judgement. Erica is also a Fellow of the London Mathematical Laboratory, where she leads the research programme on Inference from Models, and is a Visiting Senior Fellow at the LSE Data Science Institute. Erica previously held a series of roles at the LSE’s Centre for the Analysis of Time Series, initially as a Senior Policy Fellow, and subsequently as Co-Director and Acting Director. Erica holds a BA in Experimental and Theoretical Physics and a Master of Mathematics degree from Cambridge University. She completed her PhD in Physics at Imperial College London.
Dec 14, 2023
33 min
Bridging the Gap between Climate Science and Risk Management
Hear from David Schimel and Pooja Khosla of Entelligent, as we explore the intersection of climate science and risk management. For over 30 years, the Intergovernmental Panel on Climate Change, or IPCC, has reported on the future physical impacts of climate change, based on the best available science. But these predictions have tended to underplay the likelihood of extreme risks. This is in part because scientists have focused more on the centre of the distribution rather than the extremes, which is likely to have been in part a reaction against an increasingly politicised level of scrutiny. However, for risk professionals, the tails of the distribution are of particular importance. They also need also to think about the nature of the transition, which will depend on a number of factors, such as technological improvements and policy changes. Here, we have also seen systematic errors – for example, just consider the errors in forecasting the cost of solar energy. So in today’s episode, we’ll take a closer look at the balance of these errors on the physical and transition side.  We’ll explore the intersection of climate science and risk management, including: How the politicization of climate change has shaped how climate scientists communicate its risks and opportunities. The challenge of translating climate science into actionable financial risk data; and How ignoring the less likely impacts of climate change can lead to greater losses and missed opportunities. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: [email protected] Links from today’s discussion: -          Entelligent homepage: https://www.entelligent.com/ -          Intergovernmental Panel on Climate Change’s Fourth Assessment Report: https://www.ipcc.ch/assessment-report/ar4/ -          NASA Jet Propulsion Laboratory: https://www.jpl.nasa.gov/ -          Article: Do Two Climate Wrongs Make a Right? By David Schimel and Charles Miller: https://www.entelligent.com/news-and-perspective/do-two-climate-wrongs-make-a-right/ Speakers' Bios David Schimel, Co-Founder and Chairman of the Board at Entelligent, and Senior Research Scientist at NASA’s Jet Propulsion Laboratory Dave is the Co-Founder and Chairman of Entelligent, and a Senior Research Scientist at NASA's Jet Propulsion Laboratory. He has a 30-plus-year career working in top research positions and leadership roles in carbon cycle climate interactions and global climate modelling. Dave was a Convening Lead Author for the IPCC's Fourth Assessment Report, for which it was awarded the Nobel Peace Prize in 2007. In 2012, he was named a Fellow of the Ecological Society of America.  Pooja Khosla, Chief Innovation Office, Entelligent Pooja is the Chief Innovation Officer of Entelligent, and along with Dave, invented the company’s patented Smart Climate® technology. A data scientist and econometrician, Pooja’s 15-year career has focused on predictive modelling, microfinance, and the design of investment tools.  She has a Ph.D. in Economics from the University of Colorado Boulder, and speaks and writes extensively on climate risk and investment.
Nov 30, 2023
30 min
TNFD and Beyond: An Introduction to Nature in Finance
Hear from Simon Zadek, Executive Director at NatureFinance and Senior Advisor to the TNFD, as we explore the growing intersection of nature and finance. With the recent release of the Taskforce on Nature-related Financial Disclosures Framework (TNFD), the idea of nature risk is now in the spotlight for many finance professionals. Even though some may have encountered elements of ‘nature’ in their work before, for example when looking at supply chain risk, it may not have been labelled as such. And with many just getting to grips with climate risk management, there is an open question around how to incorporate nature-related issues. That’s why in today’s episode, we’ll take a closer look at the concept of nature in finance. We’ll reflect on: How it’s defined, and what risks it presents to our economies; What the TNFD framework covers and what this means for risk professionals; and The risks and opportunities that nature presents. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on nature and climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: [email protected] Links from today’s discussion: NatureFinance homepage: https://www.naturefinance.net/ Recommendations of the TNFD: https://tnfd.global/recommendations-of-the-tnfd/ Taskforce on Nature Markets homepage: https://www.naturemarkets.net/ EU Carbon Border Adjustment Mechanism (CBAM): https://taxation-customs.ec.europa.eu/carbon-border-adjustment-mechanism_en EU Regulation on deforestation-free products: https://environment.ec.europa.eu/topics/forests/deforestation/regulation-deforestation-free-products_en Report - Making Nature Markets Work (Taskforce on Nature Markets): https://www.naturemarkets.net/publications/making-nature-markets-work-extended-report Report - Breaking the Environmental Crimes-Finance Connection (NatureFinance): https://www.naturefinance.net/resources-tools/breaking-the-environmental-crimes-finance-connection/ Report - More for Less: Scaling Sustainability-linked Sovereign Debt (NatureFinance): https://www.naturefinance.net/resources-tools/more-for-less-scaling-sustainability-linked-sovereign-debt/ Speaker’s Bio Simon Zadek, Executive Director at NatureFinance and Senior Advisor to the TNFD Simon currently holds a number of leadership roles, including Executive Director at NatureFinance, co-lead of the Taskforce on Nature Markets, and Senior Advisor to the TNFD, Chair of Finance for Biodiversity, and Director of Migrant Nation. Simon has also previously held many senior roles within the UN, including as Head, Secretariat, UN Secretary General’s Task Force on Digital Financing of the Sustainable Development Goals, as Senior Advisor on Finance in the Executive Office of the Secretary General, and as Co-Director of UNEP's Inquiry into the Design of a Sustainable Financial System. In these roles, he co-Chaired China’s Green Finance Task Force, and led the Green Finance Study Group secretariat under the Chinese, German and Argentinian G20 Presidencies. Prior to this, he was Senior Advisor to the World Economic Forum and the Global Green Growth Institute, founder and CEO of the international think tank, AccountAbility and Development Director of the New Economics Foundation. He was Visiting Professor at the Singapore Management University and the Copenhagen Business School, and has been a senior fellow at Tsinghua School of Economics and Management, Harvard`s Kennedy School of Government, and the University of Southern Africa, amongst others. He has worked with many corporations, governments and multi stakeholder initiatives on their sustainability and broader strategies, been a member of the International Advisory Board of Generation Investment Management, and has published extensively, including the award winning book, The Civil Corporation.
Nov 9, 2023
35 min
The COP28 Survival Guide: How it Works and What to Expect
Hear from Nigel Topping, Former UN Climate Change High-Level Champion for COP26, as we set the scene for COP28 in Dubai. The COP, or Conference of Parties, is the annual convention of the signatories of the United Nations Framework Convention on Climate Change (UNFCCC). This is where all the high-level decision-making around the global transition to net-zero occurs – as such, it’s an incredibly important event for stakeholders all around the world. With the next one just around the corner, this episode will set the scene for COP28 in Dubai, explaining the inner workings of the COP and identifying the key issues up for discussion. We’ll explore: The successes and shortcomings of the COP mechanism, and how it squares up to the challenge of multilateral negotiations; The complex ecosystem of government, business, civil society and lobbying that has coalesced around the formal proceedings, and the challenges and opportunities that it brings; And the headline issues that will be faced (and hopefully resolved) over the course of COP28. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: [email protected] Links from today’s discussion: UNFCCC High-Level Champions - https://climatechampions.unfccc.int/global-ambassadors/ Our Episode with Sir Dieter Helm - https://www.garp.org/podcast/not-net-zero-cr-210708 UNFCCC, Global Stocktake - https://unfccc.int/topics/global-stocktake The Inevitable Policy Response - https://www.unpri.org/sustainability-issues/climate-change/inevitable-policy-response Institute and Faculty of Actuaries/University of Exeter, The Emperor’s New Climate Scenarios - https://actuaries.org.uk/emperors-new-climate-scenarios Rocky Mountain Institute, X-Change: Electricity - https://rmi.org/insight/x-change-electricity/ Speaker’s Bio Nigel Topping, Global Ambassador with the UN Climate Change High-Level Champions As one of the 14 Global Ambassadors, Nigel was selected by the UN to help accelerate the implementation of net-zero targets and climate adaptation. Until November 2022, Nigel was the UN Climate Change High-Level Champion from COP26 in Glasgow, having been appointed by the UK Prime Minister in January 2020. Working alongside Egypt’s High-Level Champion for COP27, Dr. Mahmoud Mohieldin, Nigel helped strengthen collaboration and drive action from businesses, investors, organisations, cities, and regions on climate change, and coordinate this work with governments and Parties to the UN Framework Convention on Climate Change (UNFCCC). Previously, Nigel was CEO of We Mean Business, a coalition of businesses working to accelerate the transition to a net-zero economy. Before that, he was Executive Director of the CDP, following an 18-year career in the private sector, having worked across the world in emerging markets and manufacturing. Nigel is also a non-executive director of the UK Infrastructure Bank, and is a member of the UK’s Climate Change Committee.
Oct 19, 2023
33 min
Dealing with Uncertainty in Scenario Analysis: Stochastic vs. Deterministic Approaches
Hear from Ron Dembo, Founder and CEO of riskthinking.ai, as we apply stochastic thinking to the challenge of climate scenario analysis. One of the most difficult aspects of managing climate risk is its inherent uncertainty. Because we can’t know with absolute confidence what our future climate, economy or society will look like, we therefore can’t know exactly when, where, or how intensely climate risks will manifest. A technique commonly applied to this problem is scenario analysis. By building a picture of what the future might look like, firms can formulate risk management strategies appropriate for that scenario. However, today’s guest believes we’re only scratching the surface of what scenario analysis can do for our financial institutions. In today’s episode, we’ll home in on the idea of stochastic scenario analysis; what it is, how it works, and what makes it different to the traditional approach to scenario analysis. We’ll explore: ·       The difference between deterministic and stochastic scenario analysis; ·       The advantages of using large sets of scenarios generated by expert judgment; and ·       What stochastic scenario analysis means for risk professionals.   To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: [email protected] Links from today’s discussion: ·       https://riskthinking.ai/   Speaker’s Bio Ron Dembo, Founder and CEO, riskthinking.ai Ron is an academic, author, entrepreneur, and consultant to the some of the world’s largest corporations and banks. He has had a distinguished academic career as a professor at Yale University and as visiting professor at MIT. He is a Lifetime Fellow of The Fields Institute for Research in Mathematical Sciences, and has received numerous awards for his work in mathematical optimization, finance, and climate change. Ron was previously the Founder and CEO of Algorithmics, an enterprise risk management software provider with over 70% of the world’s top 100 banks as clients. After Algorithmics was acquired by Fitch Group, Ron later founded riskthinking.ai, a company pioneering the use of stochastic analysis to accurately price climate risk into the financial markets.
Sep 28, 2023
37 min
License to Drill: What New Oil & Gas Extraction Means for the Energy Transition
Hear from Jane Stevensen of JS Global Advisory, as we examine the overall progress of the global energy transition. We always knew that the transition to net-zero wasn’t going to be smooth. Political realities must be considered, especially during a period of increased concern over energy security. A good recent example of political backsliding is the UK government’s controversial decision to grant over a hundred new oil and gas licenses in the North Sea, despite a legally binding commitment to reach net zero by 2050. Although the UK is not alone, there are some encouraging signs of progress in other policy domains. It’s a matter of where the balance lies. That’s why in this episode, we explore some solutions needed to manage the risks during this uncertain transition, such as: Abandoning short-term thinking in favour of long-term strategies that align with our net-zero and socio-economic goals; Using ESG reporting frameworks as a tool for developing resilient business strategies, rather than as an annual chore; and Leveraging the information from reporting frameworks to ensure decision-makers are held accountable for their actions. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: [email protected] Links from today’s discussion: -          UK Government’s press release regarding the new North Sea oil and gas licenses – https://www.gov.uk/government/news/hundreds-of-new-north-sea-oil-and-gas-licences-to-boost-british-energy-independence-and-grow-the-economy-31-july-2023 -          JS Global Advisory homepage - https://www.jsglobaladvisory.com/ -          International Energy Agency’s Net-Zero by 2050 report - https://www.iea.org/reports/net-zero-by-2050 -          Climate Change Committee’s letter to Rishi Sunak – https://www.theccc.org.uk/publication/letter-2023-progress-report-to-parliament-to-rt-hon-prime-minister/ -          Top ten countries currently developing the most oil and gas fields - https://www.energymonitor.ai/industry/top-ten-countries-developing-the-most-oil-gas-fields/ -          International Sustainability Standards Board’s inaugural standards - https://www.ifrs.org/news-and-events/news/2023/06/issb-issues-ifrs-s1-ifrs-s2/ Speaker’s Bio Jane Stevensen, Founding Partner, JS Global Advisory Jane has over 20 years’ experience advising businesses on sustainability strategy and the implementation of TCFD, ISSB and other ESG reporting frameworks. Prior to founding JS Global Advisory, she held a number of senior positions, including leading Grant Thornton’s Sustainability practice, and as Managing Director of the Climate Disclosure Standards Board. She holds an MBA from INSEAD and is a graduate of the Cambridge Institute for Sustainability Leadership.
Sep 7, 2023
26 min
Climate Risk Taxonomies 101: A User Guide
Hear from Bob Buhr of the Imperial College Business School, as we explore ways of organizing the risks from climate change. A risk taxonomy is a key underpinning of enterprise risk management. Used by firms to create a common risk language, it underpins a range of activities, such as risk identification, risk appetite setting and risk horizon scanning. But when it comes to the risks arising from climate change, there has been a bit of a vacuum. Some firms have chosen to use ‘green’ taxonomies. But these were set up for a different purpose – that is to classify the sectoral investment opportunities from the transition to a net zero or ‘green’ economy. That’s why in today’s episode, we’ll be looking at how firms can overcome this gap, by examining a taxonomy that has been set up specifically to classify potential firm-specific climate risks. We’ll explore: The challenges facing firms from a lack of suitable risk taxonomies; What the key categories within a climate risk taxonomy ought to be; and Why and how biodiversity loss and natural capital risks should be incorporated. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: [email protected] Links from today’s discussion: Bob’s latest book, “Climate Risks: An Investor's Field Guide to Identification and Assessment” - https://www.wiley.com/en-gb/Climate+Risks%3A+An+Investor%27s+Field+Guide+to+Identification+and+Assessment-p-9781394187355 Eila Kreivi on the GARP Climate Risk Podcast – https://www.garp.org/podcast/eu-taxonomy-sustainable-finances-cr-220616 UNEP FI’s annual climate adaptation gap reports – https://www.unep.org/resources/adaptation-gap-report-2022 Jo Handelsman on the GARP Climate Risk Podcast – https://www.garp.org/podcast/soil-crisis-opportunity-cr-041323 McKinsey’s report on natural capital - https://www.mckinsey.com/capabilities/sustainability/our-insights/nature-in-the-balance-what-companies-can-do-to-restore-natural-capital Speaker’s Bio Bob Buhr, Honorary Research Fellow, Centre for Climate Finance and Investment, Imperial College Business School Over a 30-year career, Bob has worked at major rating agencies, asset managers, hedge funds and banks, and was often cited as a top-ranked bond analyst in various investor polls. He has published ESG and climate-related reports and written on environmental risks for years and has engaged with a variety of NGOs on climate and natural capital-related issues. He is the author of Climate Risks: An Investor's Field Guide to Identification and Assessment. Bob holds a bachelor’s degree from Ithaca College, and a Ph.D. from Brown University.
Jul 27, 2023
30 min
Why Extreme Climate Physical Risks Are Closer Than You Might Think
Hear from Rohan Hamden, Co-Founder and CEO of XDI, as we examine how climate-related impacts are exceeding our models and why the need for adaptation has never been greater. Despite our best efforts to measure and model the physical risks from climate change, the impacts continue to outpace our expectations. Consequently, we are left dangerously unprepared for extreme weather events both now and in the future. This highlights the critical need for robust adaptation measures, as we move into decades of unprecedented physical risk. The recent wildfires in California and flooding in Europe serve as stark reminders of the risks that extreme events pose. Although governments and financial institutions are gradually getting to grips with these issues, we’re still on the back-foot in the race against climate change, and swift action is needed to regain control over our transition to a resilient, net-zero society. That’s why in today’s episode, we’ll explore some of the major gaps in our global response to climate change, including: Why the physical risks from climate change continue to exceed our predictions; How adaptation planning is being undermined by conservative risk modelling and short-term thinking; and The dangers of normalizing extreme weather events, which are becoming all too frequent. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: [email protected] Links from today’s discussion: XDI Homepage - https://xdi.systems/ XDI Article: Uninsurable Future - https://xdi.systems/uninsurable-future/ Intergovernmental Panel on Climate Change (IPCC) AR6 Synthesis Report – https://www.ipcc.ch/report/sixth-assessment-report-cycle/ Tim Lenton on the GARP Climate Risk Podcast - https://www.garp.org/podcast/complexities-climate-risks-cr-201102 Julie Pullen on the GARP Climate Risk Podcast - https://www.garp.org/podcast/ocean-climate-finances-cr-220505 Speaker’s Bio Rohan Hamden, Co-Founder and CEO of XDI: Cross Dependency Initiative XDI, the Cross Dependency Initiative, is an international data and analytics organisation specialising in the modelling and analysis of asset level physical climate risk. In 2017, Rohan co-founded XDI with a vision of mainstreaming climate information into infrastructure and financial decision making. Rohan began his career as a fire fighter before working in the Australian government for nearly 15 years. During that time Rohan held a number of sustainability and climate related roles, culminating in the directorship of the Climate Adaptation Program for South Australia, where he designed and led the implementation of the State’s multi-award-winning climate change adaptation program. Rohan has advised various state and national governments on their climate adaptation programs in Australia, Canada, the US and the UK.
Jul 6, 2023
32 min
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