Overexposed & Under-reported: Climate Risk and the Financial Sector – April 15

RSVP to Philana Grant at  [email protected] This e-mail address is being protected from spambots. You need JavaScript enabled to view it

This event will focus on the new Task Force on Climate-related Financial Disclosures (TCFD), established by the Financial Stability Board (FSB) in December of last year to enhance disclosure of climate-related risks in the financial sector. We are hosting a roundtable of leading organizations in finance and climate change during the 2016 IMF and World Bank Spring Meetings to explore these issues and how to strengthen the work and outcomes of the TCFD.
The TCFD published its “Phase 1” report for public consultation on April 1, 2016. G20 Finance Ministers and Central Bank Governors will meet in Washington DC on April 14-15, where they will discuss progress on this initiative. This meeting will be an important opportunity to convene interested stakeholders, respond to the TCFD’s first consultation report and encourage diverse feedback in the process going forward. The TCFD will make its final recommendations by the end of 2016.

We are inviting stakeholders from academia, civil society, think-tanks, congressional offices, socially responsible investment funds and networks, financial sector and governments.

Among issues to discuss include the following:

• How should climate-related risks be defined?
• Will voluntary disclosure standards be effective in achieving the goals of the TCFD?
• How can increased disclosures mitigate risks to global financial stability? And how might this shape financial regulations such as capital requirements, supervisory review, and market supervision under Basel III (or IV)?
• How will/can this effort influence under-regulated financial markets and under-documented but significant greenhouse gas emitters?
• What are the implications for developing countries, especially those most affected by climate change?

Lead Discussants:

Jim Coburn, Investor Program, Ceres

Adam Kanzer, Managing Director, Domini Social Investments

Elizabeth Lewis, Head Of Sustainable Investing, World Resources Institute

Simon Zadek, Co-Director, UNEP Inquiry into the Design of a Sustainable Financial System 

David Arkush, Climate Program, Public Citizen

Nicolai Lundy, Sustainability Accounting Standards Board (SASB)

Members from the TCFD and its Secretariat have been invited to attend. Check back for updates on other lead discussants.