GARP Climate Risk Symposium 2020

GARP Climate Risk Symposium 2020

November 10, 2020 | 1:00 PM - November 17, 2020 | 5:00 PM

Overview

The 2020 Climate Risk Symposium begins on November 10 with an in-depth discussion with regulators and senior risk officers about the ways in which financial institutions are grappling with the systemic risks of climate change. The Symposium continues on November 17 with a real-world scenario game that equips risk professionals with the practical knowledge to address climate change transition risks in their organization through participation in decision making on issues faced by a hypothetical company.

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Contact

Questions can be directed to GARP Events at events@garp.com.

Agenda

*Date and Time noted as

November 10, 2020

8:00 AM - 8:10 AM

Opening Remarks

8:40 AM - 9:05 AM

Regulators' Perspective

9:00 AM - 9:25 AM

Q&A Session

9:05 AM - 9:30 AM

Chief Risk Officers' Perspective

9:25 AM - 9:30 AM

Closing Remarks

1:00 PM - 2:30 PM

Building Resilience Against the Financial Risks of Climate Change

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Financial institutions and regulators globally continue to wrestle with managing the systemic risks associated with climate change. But what does the regulatory roadmap look like and how will institutions get there? How should banks, asset management firms, insurers and others incorporate climate risk into their risk frameworks?

Part 1 of the annual Climate Risk Symposium brings together esteemed regulators and leading risk practitioners from the United States, Europe, and Asia to discuss the various approaches to regulatory standards – and how central banks and institutions are striving to meet these ambitious goals. 

Topics to be covered, are:

  • How financial institutions, central banks, and governments can work collaboratively to ensure the financial system can be resilient in the face of climate change impacts
  • Insights into how leading financial institutions are managing climate change risk and the challenges they face in meeting increasing demands of regulators 
  • Multi-jurisdictional perspectives on climate risk management
  • How should climate risk be incorporated in risk appetite?

Speakers

Sarah Breeden, Executive Director, Financial Stability Strategy and Risk and member of the Financial Policy Committee, Bank of England

Colin Church, Global Head of Crisis Risk Management and Climate Risk, Citi

Alan N. Smith, Senior Advisor - Climate and ESG Risk Management, HSBC

Kevin Stiroh, Executive Vice President, Head of Supervision, Federal Reserve Bank of New York

Arthur Yuen, Deputy Chief Executive, Hong Kong Monetary Authority

Moderators

Jo Paisley, President, GARP Risk Institute

3:30 PM - 4:30 PM

Climate Risks, Opportunities and Regulatory Impacts for European Union Firms

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Climate change induced by greenhouse gas (GHG) emissions has been argued to pose a serious threat to life on earth. Over the past few years, it has become a hot topic of debate among governments, central banks, and regulators due to possible business disruptions and, potentially, financial losses. This may also lead to further detrimental consequences, ranging from a slowdown of a country’s economic output to increased unemployment to financial market instability.Since the 2015 Paris Agreement, 180+ countries have committed to accelerate the transition to a low-carbon economy by enacting a variety of policies. This includes the introduction or increase of a carbon tax.  Major central banks and financial regulators across the world are planning to test the financial markets’ preparedness for climate-related physical and transition risks by introducing ad-hoc scenarios to financial institutions’ stress-testing exercises. Looking at transition risks, investors will need to understand how this might impact the credit strength of companies in their portfolios, while companies directly exposed to these risks will need to take steps to measure and mitigate the financial impact to their businesses.This session will discuss:• Climate risks and opportunities in banks’ lending activities• Different approaches in assessing energy transition credit risk • A case study on evaluating the impact of multiple carbon tax scenarios on the creditworthiness of European Union public firms 

Speakers

Giorgio Baldassarri, Global Head of the Analytic Development Group (ADG), S&P Global Market Intelligence

November 17, 2020

1:30 PM - 2:30 PM

Climate Risks, Opportunities and Regulatory Impacts for European Union Firms

View Details

Climate change induced by greenhouse gas (GHG) emissions has been argued to pose a serious threat to life on earth. Over the past few years, it has become a hot topic of debate among governments, central banks, and regulators due to possible business disruptions and, potentially, financial losses. This may also lead to further detrimental consequences, ranging from a slowdown of a country’s economic output to increased unemployment to financial market instability.Since the 2015 Paris Agreement, 180+ countries have committed to accelerate the transition to a low-carbon economy by enacting a variety of policies. This includes the introduction or increase of a carbon tax.  Major central banks and financial regulators across the world are planning to test the financial markets’ preparedness for climate-related physical and transition risks by introducing ad-hoc scenarios to financial institutions’ stress-testing exercises. Looking at transition risks, investors will need to understand how this might impact the credit strength of companies in their portfolios, while companies directly exposed to these risks will need to take steps to measure and mitigate the financial impact to their businesses.This session will discuss:• Climate risks and opportunities in banks’ lending activities• Different approaches in assessing energy transition credit risk • A case study on evaluating the impact of multiple carbon tax scenarios on the creditworthiness of European Union public firms 

Speakers

Giorgio Baldassarri, Global Head of the Analytic Development Group (ADG), S&P Global Market Intelligence

3:30 PM - 5:00 PM

Climate Change Transition Risk – Interactive Scenario Game

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In part 2, board members of a hypothetical company are faced with navigating transition risks it faces stemming from moves to a low-carbon economy. 

Climate change is a risk multiplier, generating increasingly unprecedented impacts on assets, supply chains, infrastructure and regulations across jurisdictions. As we transition towards a low-carbon environment, new risks will emerge due to changing regulations and policies, new technologies, market forces, and reputational issues. This session will enable risk professionals to be active decision makers amid greater uncertainty - as active board members they will deal with difficult decisions and questions based on risks that are difficult to quantify. 

This event is for risk professionals and those interested in the risks from climate change. By gaining a deeper understanding of transition risks and opportunities, attendees will obtain practical information that will help them to prepare their businesses for the risks of tomorrow, minimize potential liabilities, and evolve their business to be successful in the new economy.

Speakers

Julie Baddeley, Chapter Zero

Nigel Brook, Partner and Head of Climate Risk Practice, Clyde & Co

Rowan Douglas, Head of Climate and Resilience Hub, Willis Towers Watson

Nasreen Kasenally, Chief Risk Officer AM & Group EMEA / Head of Sustainability Risks, UBS

Maxine Nelson, SVP, GARP Risk Institute

Moderators

Jo Paisley, President, GARP Risk Institute

Speakers/Moderators

Julie Baddeley

Julie Baddeley
Chapter Zero

Giorgio Baldassarri

Giorgio Baldassarri
Global Head of the Analytic Development Group (ADG), S&P Global Market Intelligence

Sarah Breeden

Sarah Breeden
Executive Director, Financial Stability Strategy and Risk and member of the Financial Policy Committee, Bank of England

Nigel Brook

Nigel Brook
Partner and Head of Climate Risk Practice, Clyde & Co

Colin Church

Colin Church
Global Head of Crisis Risk Management and Climate Risk, Citi

Rowan Douglas

Rowan Douglas
Head of Climate and Resilience Hub, Willis Towers Watson

Nasreen Kasenally

Nasreen Kasenally
Chief Risk Officer AM & Group EMEA / Head of Sustainability Risks, UBS

Maxine Nelson

Maxine Nelson
SVP, GARP Risk Institute

Jo Paisley

Jo Paisley
President, GARP Risk Institute

Alan N. Smith

Alan N. Smith
Senior Advisor - Climate and ESG Risk Management, HSBC

Kevin Stiroh

Kevin Stiroh
Executive Vice President, Head of Supervision, Federal Reserve Bank of New York

Arthur Yuen

Arthur Yuen
Deputy Chief Executive, Hong Kong Monetary Authority

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