2021 Climate Risk Symposium

New Frontiers in Climate Risk Management

November 23, 2021 | 1:00 PM - November 30, 2021 | 2:30 PM

Overview

Part I will begin on November 23 at 1:00pm GMT, with a focus on practical advances in climate risk management over the past year. The 90-minute webcast will look at supervisors’ growing interest in firms’ climate risk management, with a particular focus on the work of the U.K.’s Climate Financial Risk Forum (CFRF). The CFRF, an industry forum jointly convened by the PRA and FCA, provides an interesting model of collaboration and is generating insights that are relevant and useful for firms all around the world. We will hear from those involved about how financial firms are embedding climate within their risk management frameworks by establishing climate risk appetite statements. We will also look at how scenario analysis is being used to assess physical and transition risk, as well as the increasing trend of aligning portfolios with certain outcomes (e.g. “Paris” or "1.5 degree alignment”). 


The event will continue with Part II on November 30 at 1:00pm GMT, with perspectives from both supervisors and firms about the experience to date of supervisory climate stress tests. Hear from practitioners to gain practical insights on how these exercises differ from traditional stress tests and their lessons learned to date. Featuring insights and case studies from top banks, this session will offer practical advice on how firms can treat scenario analysis as a useful pillar of their climate risk strategy rather than simply a compliance exercise.

Contact

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

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Agenda

*Date and Time noted as

November 23, 2021

1:00 PM - 2:30 PM

Part I: Leading Practices in Climate Risk Management and Scenario Analysis

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Part I will feature an in-depth discussion on the practical advances made in climate risk management over the past year showcasing some of the work by the U.K.’s Climate Financial Risk Forum published in October 2021. Written by leading climate risk management practitioners the work provides prime examples of how financial firms are establishing climate risk appetite statements and developing scenario analysis capabilities. 

Speakers/Moderators

Jo Paisley, President GARP Risk Institute

Ben Carr, Analytics and Capital Modelling Director Aviva plc

Maxine Nelson, SVP GARP Risk Institute

Lauren McNicoll, Vice President Climate Change Risk J.P. Morgan

Rob Purdy, Director of Balance Sheet Management Yorkshire Building Society

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

November 30, 2021

1:00 PM - 2:30 PM

Part II: Lessons Learned from Regulatory Climate Scenario Analysis

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What are the lessons learned so far that might help shape future exercises and avoid regulatory fragmentation? How can we ensure that climate scenario analysis is not simply a compliance exercise but makes a meaningful contribution to risk management?

Speakers/Moderators

Jo Paisley, President GARP Risk Institute

Amitav Borkakoty, Managing Director Enterprise Risk Management Standard Chartered Bank

Nigel Milbank, Senior Lead Climate Programme Natwest Group

Maxine Nelson, SVP GARP Risk Institute

Marc Irubetagoyena, Head of Group Stress Testing and Financial Simulations BNP Paribas 

Chris Faint, Head of Climate and Small Mutuals Bank of England

Judson Berkey, Managing Director Group Head Engagement and Regulatory Strategy Chief Sustainability Office UBS

Speakers/Moderators

Jo Paisley

Jo Paisley

President GARP Risk Institute

Ben Carr

Ben Carr
Analytics and Capital Modelling Director Aviva plc

Maxine Nelson

Maxine Nelson
SVP GARP Risk Institute

Lauren McNicoll

Lauren McNicoll

Vice President Climate Change Risk J.P. Morgan

Rob Purdy

Rob Purdy

Director of Balance Sheet Management Yorkshire Building Society

Sarah Breeden

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

Amitav Borkakoty

Amitav Borkakoty

Managing Director Enterprise Risk Management Standard Chartered Bank

Nigel Milbank

Nigel Milbank

Senior Lead Climate Programme Natwest Group

Marc Irubetagoyena

Marc Irubetagoyena
Head of Group Stress Testing and Financial Simulations BNP Paribas 

Chris Faint

Chris Faint

Head of Climate and Small Mutuals Bank of England

Judson Berkey

Judson Berkey

Managing Director Group Head Engagement and Regulatory Strategy Chief Sustainability Office UBS

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