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Many organizations face challenges in measuring and managing climate change risks, often due to inconsistent data and the lack of reliable analytical tools. We’ll explain how En-ROADS can be used to...
April 24, 2025 | By Katherine Markova
India remains the fastest-growing major economy, growing at 8.2% in the 2023/2024 financial year, according to the World Bank. Its growth was boosted by public infrastructure investment and an...
April 10, 2025 | By Maxine Nelson
Green Finance & Sustainable Business
The year has not started well for high-profile, sustainable-finance initiatives. There have been prominent withdrawals from the Net Zero Asset Managers’ Initiative, Climate Action 100+, and related...
March 13, 2025 | By Amos Wittenberg
Picture wheat farmers in Kansas, where the amount and timing of rainfall determines the health and productivity of their vast crops. Now imagine a wind farm on the coasts of Denmark, counting on...
February 20, 2025 | By Tim Boyce
From technological leaps to political revolutions, many transitions happen not in slow and predictable steps, but as abrupt and often irreversible shifts. This is also true for climate change, where...
February 6, 2025 | By Tom Strachan
Green Finance & Sustainable Business
In a world where climate and nature risks are increasingly intertwined, financial risk professionals face the challenge of making nuanced decisions in complex, high-stakes scenarios. This article...
January 30, 2025 | By Tim Walton
India has been suffering from significant impacts of climate change, from high temperatures to flooding rains. Each year, we hear of more records being broken from an ever increasing number of cities...
January 15, 2025 | By Maxine Nelson
This article reflects on the key successes and failures of two major United Nations (UN) conferences that were each attended by nearly 200 nations in the final quarter of 2024. These two Conference...
December 11, 2024 | By Tom Strachan & Ryan Littlefield
As the devastating consequences of the climate and nature crises unfold at an accelerating rate, the landscape of risk is becoming more complex, uncertain, and threatening. While a daunting prospect,...
December 5, 2024 | By Pamela McGill
The climate crisis has undeniably climbed to the top of every business agenda, with nearly every company website boasting ambitious climate goals. To meet these goals, we are seeing companies adopt a...
November 13, 2024 | By Regina Villaruel
What are the Scenario Games? The GARP Climate & Nature Scenario Games are interactive events where the audience takes on the role of the board of a fictional company. Confronted with a series of...
October 23, 2024 | By Tim Walton
In March this year, the latest in a series of papers and expert opinions globally on climate and nature-related risks and directors’ duties was published in the UK titled, “Nature-related risks and...
October 2, 2024 | By Jasmin Fraser
In today's rapidly changing world, businesses are grappling with unprecedented challenges. From climate change to technological disruption, the landscape in which companies operate is becoming...
September 18, 2024 | By Emily Farnworth
It is just over a year since the International Sustainability Standards Board (ISSB) published its first IFRS Sustainability Disclosure Standards, IFRS S1 on general requirements for sustainability...
September 11, 2024 | By Veronica Poole and Neil Stevenson
Awareness of climate change and its current and potential future impact has grown quickly. The rise of climate activism began a trend of public companies stating carbon reduction goals (see Figure...
August 29, 2024 | By Mark Griffin
The impacts of climate change have become increasingly dire. Rapidly increasing atmospheric carbon pushed global average temperatures 1.4°C above pre-industrial levels in 2023, the hottest year since...
August 22, 2024 | By Namita Vikas
The urgency of addressing climate change is more pressing than ever and achieving net-zero emissions by mid-century is a global priority. To do this, it is crucial to understand where emissions are...
August 15, 2024 | By Tim Walton
This article has been updated with the latest figures and references. It was originally published October 12, 2023. Greenhouse gas (GHG) accounting is a crucial first step in mitigating GHG...
August 8, 2024 | By Tom Strachan
The full extent of climate change impacts is currently not integrated into financial risk assessments or valuations. Even with a raft of new regulation, impact assessment methodologies are left...
August 1, 2024 | By Sahil Shah and Edward Baker
Attention on nature-risk management is increasing following the agreement of the pivotal UN Global Biodiversity Framework (GBF) in December 2022 which set a country-level framework to halt and...
June 27, 2024 | By Maxine Nelson
Global warming is most commonly measured using the average surface temperature of the planet. But there is variability in the weather, some of which is natural. For example, El Niño events and the...
June 20, 2024 | By Jo Paisley and Maxine Nelson
Since GARP’s earliest articles on the topic, we have argued climate risk management should be treated like traditional risk types and embedded into the standard framework of risk identification,...
June 6, 2024 | By Maxine Nelson
Note: This article is Part 2 in a series of two articles. It draws upon the Green Templeton Lecture on this topic delivered by Jo Paisley on 8 February 2024. Part 1 can be found here. Measuring...
May 30, 2024 | By Jo Paisley
Note: This article is Part 1 in a series of two articles. It draws upon the Green Templeton Lecture on the topic, delivered by Jo Paisley on February 8, 2024. When thinking about the financial...
May 16, 2024 | By Jo Paisley
Even for financial institutions as sophisticated as the Bank of England (BoE), the transition to a net-zero economy continues to be a complicated task. Last month, BoE staff published an article on...
May 9, 2024 | By Amos Wittenberg
Nature-related risks are on the rise. A recent PwC report found that more than half of global GDP, roughly USD 58 trillion, is materially exposed to nature-related risks — up from USD 44 trillion in...
April 4, 2024 | By Tom Strachan
As climate change escalates, the transition toward clean energy and sustainable transportation has never been more critical. But it will introduce new risks. This article focuses on a core component...
March 26, 2024 | By Lou Munden, Ben Bowie and Justin Muhl
In the wake of a challenging climate risk environment, financial institutions are rethinking their approach to risk management with a heightened focus on environmental, social and governance (ESG)...
March 14, 2024 | By Giada Scalpelli and Peter Plochan
Carbon leakage, the process by which emissions-intensive industries relocate to regions with less stringent carbon regulations, poses a significant challenge to global climate change mitigation...
February 15, 2024 | By Tim Walton
Climate risk stress testing (CRST) for European banks’ credit portfolios in 2024 will have a widespread impact — across policy, risk modelling, and risk and regulatory related systems and business...
February 1, 2024 | By Scott D. Aguais
Over the past year, significant strides have been made by the U.S. regarding regulations addressing climate-related risks in finance. Notably, in October 2023, the Federal Reserve Board (FRB), the...
January 25, 2024 | By Olivia Krylov
We currently judge a country’s contribution to climate change by assessing its national-level greenhouse gas (GHG) emissions on a production basis. This globally agreed standard is used to determine...
January 11, 2024 | By Tim Walton
Promoting environmental sustainability is no longer a convenient, feel-good marketing message. The boards of directors at well-run companies are pushing executive leaders to implement serious...
December 7, 2023 | By Alex Saric
Given the scientific consensus on the need for rapid cuts in greenhouse gas emissions to meet Paris Agreement targets, companies are increasingly focused on reaching net zero. In 2021, the Taskforce...
November 22, 2023 | By Jo Paisley
A year with record-breaking temperature, heatwave, wildfire and ice melts occurring across the globe, 2023 marked the first time in history that global temperatures have been 1.5°C warmer than...
November 2, 2023 | By Maxine Nelson
Climate change has taken center stage on a visceral basis as rising temperatures and unusual weather patterns around the world dominate the front pages of the media. As these observed climate changes...
October 26, 2023 | By Scott D. Aguais
It is the simplest of ideas, though perhaps too simple for our messy world: carbon pricing is the obvious response to the climate emergency. Gabriel Rozenberg Economists are more or less united on...
September 21, 2023 | By Amos Wittenberg & Gabriel Rozenberg
This article has been extensively updated, incorporating new COP 27 commitments, Reserve Bank of India (RBI) statements and current green bond issuance. It was originally published Oct. 18, 2021....
September 14, 2023 | By Maxine Nelson
This century, trillions in economic stimulus have been spent by governments around the world in response to the financial crisis in 2008-2009 and, most recently, the COVID pandemic. However, most of...
August 3, 2023 | By Maxine Nelson
Are Oil and Gas Companies’ Climate-related Risks Adequately Captured? Achieving the goals of the Paris Agreement, goals to which virtually all countries of the world are committed, requires demand...
July 20, 2023 | By Paul Stuart-Smith and Jane Stevensen
In the past century, the Earth’s temperature has increased about 1.2 degrees Celsius. This rate of global warming might sound inconsequential, but it represents a faster rise in the Earth’s...
July 13, 2023 | By Michael Leibrock
ESG, which stands for Environmental, Social and Governance, covers a broad range of non-financial issues that are increasingly regarded as sources of both financial risk and opportunity. However,...
June 30, 2023 | By Jo Paisley
Climate change and biodiversity loss are two of humanity’s most pressing challenges. But while they are highly connected, they have tended to be studied and addressed separately. This article looks...
June 6, 2023 | By Maxine Nelson
Climate change is one of the most widely discussed issues in the world today. Even so, it’s easy to misunderstand what it really is, what causes it, and how it relates to financial institutions. This...
May 18, 2023 | By Tom Strachan
Nature and biodiversity are fast emerging as topics of interest to risk professionals in financial services. Over a hundred central banks and supervisors in the Network for Greening the Financial...
May 11, 2023 | By Simon Connell
Introduction Recent years have seen extreme weather events, including excessive heat, prolonged drought or intense rainfall and flooding. The consequences are significant, with damages exceeding...
April 19, 2023 | By Quintin Rayer
Biodiversity loss is an area of financial risk that an increasing number of financial institutions are looking at, according to GARP’s Fourth Annual Survey of Climate Risk Management. Of the 76% of...
April 5, 2023 | By Maxine Nelson
Global regulatory and market trends are pressuring firms to disclose their impacts on climate change through a process known as greenhouse gas (GHG) accounting. Combined with the proliferation of...
March 23, 2023 | By Tom Strachan
Today marks the third anniversary of the GARP Climate Risk Podcast. We have learnt a huge amount from talking to a wide range of guests. This article explores the rich insights it has provided on how...
March 17, 2023 | By Jo Paisley
Should central banks care about climate risk? The Federal Reserve's recent release of its pilot climate scenario analysis exercise has sparked a heated debate on the role of central bankers in...
February 3, 2023 | By Cristian deRitis
Welcome GARP’s Physical Risk Masterclass for SCR Certificate Holders Thank you for registering to participate in this special project offered by GARP and XDI, the Cross Dependency Initiative, to...
January 31, 2023 | By GARP
The GARP Risk Institute’s latest deep dive on climate scenario analysis practices in financial firms was recently published on December 9 as part of the Climate Financial Risk Forum’s (CFRF) 2022...
December 12, 2022 | By GARP Risk Institute
Policy makers across multiple jurisdictions have been developing taxonomies, which aim to define what is “green”. But how do they fit in risk management? And what role do they play in solving climate...
September 8, 2022 | By Jo Paisley
For many local governments, the term “asset management” refers only to the management of built or engineered resources. In Canada, however, there is an emerging movement for local governments to...
August 8, 2022 | By Roy Brooke
How can you judge the reasonableness of modelled scenario analysis outputs if the scenario is one that you’ve never experienced? This is a dilemma that has faced many risk professionals involved in...
June 21, 2022 | By Maxine Nelson
What are physical climate risks and how are they changing? The Intergovernmental Panel on Climate Change (IPCC) is the most authoritative source on the science behind climate change. In August 2021,...
April 27, 2022 | By Jo Paisley
What is causing transition risk? Before examining the main categories of transition risk, it is helpful to put the transition to a low-carbon economy in context. According to the latest IEA data,...
April 12, 2022 | By Jo Paisley
The effects of climate change and the transition to a low carbon economy present emerging financial risks. These physical and transition risks present clear threats to corporations, banks, and...
April 5, 2022 | By Greg Rogers
Ambitious climate goals have been adopted in both the EU and the UK. As these economies migrate to net-zero emissions, supervisors know that financial firms in these regions will be facing domestic...
March 29, 2022 | By Jo Paisley
This week, all eyes are on COP26 and the achievability of the Paris Agreement goals of limiting global warming to ‘well below 2˚C above pre-industrial levels, while pursuing efforts to limit...
November 1, 2021 | By Jo Paisley
The GARP Risk Institute’s deep dive on climate scenario analysis practices in financial firms was recently published on October 21st as part of the Climate Financial Risk Forum’s (CFRF) 2021 outputs,...
October 25, 2021 | By GARP Risk Institute
On 28th September 2021, GARP hosted Oliver Marchand, Global Head of ESG Research and Models at MSCI. In this webcast, Oliver delivered practical advice on understanding, creating, and deploying...
October 21, 2021 | By GARP Risk Institute
The risks associated with climate change do not exist in a vacuum and increasingly we are seeing a focus on broader environmental issues from a range of parties including regulators, investors,...
August 6, 2021 | By Tim Walton
In this decisive decade for climate change, greenhouse gas emissions need to be cut in half globally to ensure a reasonable chance of remaining below 1.5°C of global warming. The magnitude of the...
June 11, 2021 | By Jo Hand
Climate change can be viewed through many different lenses – but two key perspectives are particularly helpful for risk professionals: understanding your institution’s impact on the climate and the...
May 24, 2021 | By Maxine Nelson
Green Finance & Sustainable Business
ESG stands for Environmental, Social and Governance. Collectively, these cover a broad range of non-financial issues that are increasingly regarded as sources of both financial risk and opportunity....
May 10, 2021 | By Jo Paisley
Green Finance & Sustainable Business
In 2020, approximately $500 billion of sustainable bonds were issued, a new annual record. There has been strong demand for these types of bonds; one recent example being the Italian government’s...
April 12, 2021 | By Maxine Nelson
Five years on from the Paris Agreement, we have a chance to examine the progress that countries are making on addressing their climate change commitments at the so-called COP26 meeting scheduled for...
March 31, 2021 | By Jo Paisley
With US President Joe Biden settling into office, climate change is among the areas where changes in policy are likely to be most pronounced. At around the midway point of Biden’s first 100 days as...
March 17, 2021 | By Jo Paisley
Investing in resilience is not only imperative to addressing climate change; emerging research is starting to show that doing so could result in lower financing costs. Why? Because managing climate...
February 8, 2021 | By Stacy Swann
Arecent US Commodity Futures Trading Commission report calls for new climate risk requirements and decisive measures by U.S. regulators to address the serious risks that global warming poses to the...
October 20, 2020 | By Jim Romeo
In conjunction with Climate Week NYC 2020, on September 22, Maxine Nelson, SVP, GARP Risk Institute and Jo Paisley, Co-President, GARP Risk Institute, hosted a virtual meeting for GARP’s chapters....
October 19, 2020 | By GARP Risk Institute
Even as financial institutions face challenges with integrating climate risk into their established risk management practices, expectations are already expanding in Asia as regulators broaden the...
September 14, 2020 | By Maxine Nelson
Risk managers and climate scientists share a fundamental challenge: How to identify, weigh, and process a dizzying mix of signals to better model a range of possible future outcomes. Accordingly, the...
September 9, 2020 | By Adam Aston
Over the past five years, the Asia-Pacific region has accounted for more than three-quarters of global demand growth for electricity. Estimates earlier this year by analysts with energy research and...
September 3, 2020 | By Dawn Kissi
In recent years, we’ve seen clear evidence of an interplay among extreme weather, climate change, health, and well-being. Hurricane Sandy, for example, caused devastation, fatalities, and impacted...
August 18, 2020 | By Michael Schwebel
Imagine you are the CRO of a bank. But it is 1980, and you’re being asked to undertake scenario analysis, looking at how you expect your business will evolve over the next 30 years. Would you have...
July 2, 2020 | By Jo Paisley and Maxine Nelson
Many firms recognize that climate financial risk is a complex, far-reaching risk with unknown systemic consequences that could affect all parts of their portfolio. However, they are grappling with...
February 28, 2020 | By Maxine Nelson
Green Finance & Sustainable Business
More than a year and a half since the European Commission published its Action Plan on Financing Sustainable Growth, an EU official told a financial industry gathering in Washington, D.C., that he is...
November 27, 2019 | By Ted Knutson
Green Finance & Sustainable Business
In today’s world, it’s becoming impossible to ignore the rapid shifts taking place in relation to the environment, society and corporate governance. Business models are evolving, as are the wide...
July 26, 2019 | By Robert B. Hirth and Rodney Irwin
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