[MCN] The climate crisis & the state of the economy : Reports that few will ever see

[Lance Olsen]

Some of these articles will be behind a paywall

What does 'climate risk' actually mean? | Greenbiz <https://www.greenbiz.com/article/what-does-climate-risk-actually-mean>
It's no longer just about “What business is doing to the climate.” It's also about “What the climate is doing to business.”
GreenBiz

How climate change can impact investments | Campden FB <https://www.campdenfb.com/article/how-climate-change-can-impact-investments>
Oct 11, 2020 — As one of the defining challenges of this generation, climate change is not just an environmental concern, but also an economic one. Already ...

Shipping will be 'uninvestable' without carbon price soon, says Trafigura <https://news.google.com/articles/CBMie2h0dHBzOi8vd3d3LnRyYWRld2luZHNuZXdzLmNvbS9yZWd1bGF0aW9uL3NoaXBwaW5nLXdpbGwtYmUtdW5pbnZlc3RhYmxlLXdpdGhvdXQtY2FyYm9uLXByaWNlLXNvb24tc2F5cy10cmFmaWd1cmEvMi0xLTk3NzMzMdIBAA?hl=en-US&gl=US&ceid=US%3Aen>
Rasmus Bach Nielsen says shipowners must argue for strong financial incentives to cut carbon, or suffer the consequences.
TradeWinds

The FHFA Begins to Reckon with Climate Risks to the Housing Market <https://news.google.com/articles/CBMiYWh0dHBzOi8vYmxvZy51Y3N1c2Eub3JnL3JhY2hlbC1jbGVldHVzL2ZoZmEtYmVnaW5zLXRvLXJlY2tvbi13aXRoLWNsaW1hdGUtcmlza3MtdG8taG91c2luZy1tYXJrZXTSAQA?hl=en-US&gl=US&ceid=US%3Aen>
Yesterday I had the opportunity to offer comments at the Federal Housing Finance Agency's public listening session on its recently issued Request for ...
Union of Concerned Scientists

The Future of Climate Change Risk Regulation for Insurers in America? <https://news.google.com/articles/CBMiTGh0dHBzOi8vd3d3Lmpkc3VwcmEuY29tL2xlZ2FsbmV3cy90aGUtZnV0dXJlLW9mLWNsaW1hdGUtY2hhbmdlLXJpc2stMjkyMTMyMS_SAQA?hl=en-US&gl=US&ceid=US%3Aen>
In the few short weeks since our last report on climate change and the US insurance industry, the volume of climate change news has been extraordinarily high.
JD Supra
Yesterday

Managing Exposure to Climate Risk in Bank Portfolios <https://news.google.com/articles/CBMidmh0dHBzOi8vd3d3LnNwZ2xvYmFsLmNvbS9tYXJrZXRpbnRlbGxpZ2VuY2UvZW4vbmV3cy1pbnNpZ2h0cy9ibG9nL21hbmFnaW5nLWV4cG9zdXJlLXRvLWNsaW1hdGUtcmlzay1pbi1iYW5rLXBvcnRmb2xpb3PSAQA?hl=en-US&gl=US&ceid=US%3Aen>
The environmental team at this bank wanted to be able to quantify financed emissions in a way that was both meaningful and actionable.
S&P Global

How Everybody Ends Up Paying for Climate Crisis <https://news.google.com/articles/CBMiRGh0dHBzOi8vd3d3Lmluc3VyYW5jZWpvdXJuYWwuY29tL25ld3MvbmF0aW9uYWwvMjAyMS8wMy8xNS82MDU0MTkuaHRt0gFEaHR0cHM6Ly9hbXAuaW5zdXJhbmNlam91cm5hbC5jb20vbmV3cy9uYXRpb25hbC8yMDIxLzAzLzE1LzYwNTQxOS5odG0?hl=en-US&gl=US&ceid=US%3Aen>
Fallout from last month's deadly deep freeze in Texas has quietly spread to people living hundreds of miles away. .
Insurance Journal

Q&A: Navigating Climate Risk as a Financial Risk <https://news.google.com/articles/CBMicGh0dHBzOi8vd3d3LnNwZ2xvYmFsLmNvbS9tYXJrZXRpbnRlbGxpZ2VuY2UvZW4vbmV3cy1pbnNpZ2h0cy9ibG9nL3FhLW5hdmlnYXRpbmctY2xpbWF0ZS1yaXNrLWFzLWEtZmluYW5jaWFsLXJpc2vSAQA?hl=en-US&gl=US&ceid=US%3Aen>
In our webinar panel on November 12, 2020, we introduced Climate Credit Analytics, the new holistic approach to assess credit risk under a range of climate ...
S&P Global

New SEC Task Force Amid Growing Materiality of ESG Disclosures <https://news.google.com/articles/CBMiaWh0dHBzOi8vd3d3Lm5hdGxhd3Jldmlldy5jb20vYXJ0aWNsZS9zZWMtbGF1bmNoZXMtbmV3LXRhc2stZm9yY2UtYW1pZC1ncm93aW5nLW1hdGVyaWFsaXR5LWVzZy1kaXNjbG9zdXJlc9IBbWh0dHBzOi8vd3d3Lm5hdGxhd3Jldmlldy5jb20vYXJ0aWNsZS9zZWMtbGF1bmNoZXMtbmV3LXRhc2stZm9yY2UtYW1pZC1ncm93aW5nLW1hdGVyaWFsaXR5LWVzZy1kaXNjbG9zdXJlcz9hbXA?hl=en-US&gl=US&ceid=US%3Aen>
SEC's new task force assess the disclosure of Environmental, Sustainability, and Governance, or ESG, information, encompassing a broad umbrella of corporate ...
The National Law Review

Analysts point to $500B investment gap in climate resilience for electric utilities <https://news.google.com/articles/CBMic2h0dHBzOi8vd3d3LnV0aWxpdHlkaXZlLmNvbS9uZXdzL2FuYWx5c3RzLXBvaW50LXRvLTUwMGItaW52ZXN0bWVudC1nYXAtaW4tY2xpbWF0ZS1yZXNpbGllbmNlLWZvci1lbGVjdHJpYy11LzU5NjMwNC_SAQA?hl=en-US&gl=US&ceid=US%3Aen>
Investor-owned utilities face a $500 billion capital investment gap to build out resilience efforts and effectively address risks from climate change, according to a ...
Utility Dive

UK pensions minister urges fund sector to act faster on releasing climate data <https://news.google.com/articles/CAIiEGtP1DeV33HIRBAZuuC-LhEqFwgEKg8IACoHCAow-4fWBzD4z0gwott6?hl=en-US&gl=US&ceid=US%3Aen>
Guy Opperman tells asset management industry it can no longer put off requests from pension trustees.
Financial Times <https://news.google.com/publications/CAAqBwgKMPuH1gcw-M9I?hl=en-US&gl=US&ceid=US%3Aen>

Natural Catastrophes Are Heading for Investors' Portfolios <https://news.google.com/articles/CBMidmh0dHBzOi8vd3d3Lmluc3RpdHV0aW9uYWxpbnZlc3Rvci5jb20vYXJ0aWNsZS9iMXBjdnpxZzc0bWxjeC9OYXR1cmFsLUNhdGFzdHJvcGhlcy1BcmUtSGVhZGluZy1mb3ItSW52ZXN0b3JzLVBvcnRmb2xpb3PSAQA?hl=en-US&gl=US&ceid=US%3Aen>
Institutional investors should examine the vulnerability of their holdings to climate change as scientific evidence points to natural catastrophes being more likely ...
Institutional Investor

The changing climate of risk: Financial institutions, investment funds and governments are being held to account over the costs of climate change <https://news.google.com/articles/CBMiW2h0dHBzOi8vd3d3LnRoZW1vbnRobHkuY29tLmF1L2lzc3VlLzIwMjEvbWFyY2gvMTYxNDUxNzIwMC9wYXRyaWNrLWxhdS9jaGFuZ2luZy1jbGltYXRlLXJpc2vSAQA?hl=en-US&gl=US&ceid=US%3Aen>
Bonds are kind of boring; government bonds are really boring. That's okay. Everyone thinks so, if they think about bonds at all, and there's no shame in saying it ...
The Monthly

'Reading the writing on the wall': why Wall Street is acting on the climate crisis <https://news.google.com/articles/CAIiEPLWRr4zcAvZP_JLtFWV4coqFggEKg4IACoGCAowl6p7MN-zCTDMwRU?hl=en-US&gl=US&ceid=US%3Aen>
The industry has backed polluters for decades. Now, amid growing pressure, Wall Street says it's going green.
The Guardian <https://news.google.com/publications/CAAqBggKMJeqezDfswk?hl=en-US&gl=US&ceid=US%3Aen>

And plenty more making the same points

To get full article of the blurbs posted below, just copy the bold print headline, and paste into your viewer

Some will likely be behind paywalls

Stock markets are not pricing in the risk of climate change, warns IMF
The IMF's latest Global Financial Stability Report examines the impact of climate change physical risk on financial stability and finds that equity investors might ...
World Economic Forum

Banks are far more exposed to climate change than they're disclosing
More than half the syndicated lending of all major U.S. banks is exposed to significant climate-change risk, which could translate into more than one hundred...
MarketWatch

UK pension schemes face new climate risk reporting rules
The UK's largest workplace pension schemes must comply with new mandatory requirements to take action on climate change under government measures that ...
Financial Times

Investors Step Up Pressure On Companies That Don’t Disclose Environmental Risks
Investors are becoming increasingly assertive and sophisticated in holding companies to account on climate, forest and water issues – and it is producing ...
Forbes

How overlooking climate change could become a personal liability | Greenbiz
Companies that fail to manage climate change risks increasingly run the risk of litigation — and some executives already have been sued personally.
GreenBiz

In climate change fight, investors beat risks with active role, PGIM study finds
Our planet's climate trajectory for the next 15 years is already decided, scientists warn—but what actions investors take today can still have tremendous …
Business Wire

UK to fund £10m green finance research centre
The global rush for credible detailed information on climate financial risk has prompted the UK government to fund a new £10m green finance research centre ...
Financial Times

Taking care of business: the private sector is waking up to nature's value
For many businesses, climate change is an existential threat. Extreme weather can disrupt operations and supply chains, spelling disaster for both small vendors ...
The Conversation AU

How Biden and Congress can use COVID-related corporate stimulus to boost climate resilience
Sanjay Patnaik, Siddhi Doshi, and Kelly Kennedy argue that by factoring in climate-risk mitigation into a COVID relief package, the new administration could ...
Brookings Institution

Sovereign wealth funds sidestep climate change threat
Most sovereign wealth funds are failing to address the risks posed by climate change at a time when other big institutional investors are ramping up investment ...
Financial Times

Boards Are Obstructing ESG — at Their Own Peril
The list of environmental, social, and governance (ESG) issues that can pose financial risks to corporations exploded in 2020: climate change, water scarcity, ...
Harvard Business Review

Addressing climate risk in the era of COVID-19
Although dealing with COVID-19 has understandably been the focus of many businesses over the past 12 months, businesses focussed on ensuring long-term ...
Continuity Central

Taking action on climate risk: improving governance and reporting by occupational pension schemes
The next decade will be the most important in our fight to tackle climate change. The government recognises this and is prepared to take all the steps necessary ...
GOV.UK

Fed to weave 'inescapable' climate change risk into bank oversight By Reuters
SAN FRANCISCO (Reuters) - The U.S. Federal Reserve is beginning to incorporate the impacts of global warming into its regulatory writ, following in the ...
Investing.com

Sustainable investing gets COVID boost - Arian Neiron
The story Super's green push lures MSCI recently ran in The Australian Financial Review. It is evident from the article: ESG is going to be a focus for Australia's ...
Livewire Markets

Paul Polman's rallying cry for courageous leaders | Greenbiz
Former Unilever CEO says addressing the converging COVID, climate and social justice crises requires a new approach by CEOs.
GreenBiz

Janet Yellen confirmed as first female US Treasury secretary – here’s what she can do about climate change
The Senate voted 84-15 to confirm economist Janet Yellen as U.S. Treasury secretary on Jan. 25, and her in tray will require every ounce of her vast experience ...
The Conversation US

Governance and reporting of climate change risk: guidance for trustees of occupational schemes
Draft statutory guidance proposed to be issued pursuant to section 41(A) and 41(B) of the Pensions Act 1995. This draft Guidance is produced for the purposes ...
GOV.UK
Jan 27

How Investors Are Sizing Up Climate Change's Risks—and Opportunities
What are the financial implications of rising seas and extreme weather? Asset managers and risk experts gathered at Harvard Business School to discuss how ...
Harvard Business School Working Knowledge

Here's how you can size up climate change to tap into smart investment opportunities
The Fed has named climate change a stability risk. How does an investor tackle the huge topic of climate change to tap its opportunities?
CNBC

Executive Order on Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis
By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered as follows: Section 1. Policy.
The White House

Ceres calls for municipal securities climate risk disclosure
The Municipal Securities Rulemaking Board should incorporate disclosure on climate risk that currently is "severely lacking," Ceres said Monday in a comment ...
Pensions & Investments

Q&A Credit Risk Perspectives Series: Navigating Climate Scenario Analysis
Dr Giorgio Baldassarri, Global Head of the Analytic Development Group (ADG) talks about the considerations for building climate change into scenario analysis.
S&P Global

A Framework for Analyzing Municipal Climate Risk
According to the US SIF Foundation's biennial ESG “Trends Report” released Monday, climate change remains the top ESG issue for money managers.
ETF Trends

ULI Report: How Investors Assess Climate Risk at the Market Level - Urban Land Magazine
ULI and Heitman, in collaboration with Arup Group and consulting group Milliman, in newly published research find that real estate investors are starting to look ...
Urban Land

Why climate change is getting the attention of world's wealthy investors
Within private client groups at banks like UBS and wealthy investor clubs like Tiger 21, climate change is now a core investing theme, not a political issue.
CNBC

The Climate Factor in CRE Investment Strategy
Commercial real estate investors are starting to evaluate how extreme weather is affecting the value of their portfolios, acquisitions and developments.
Commercial Property Executive

MSCI Launches Solution Enabling Real Estate Investors to Assess Climate Risks
MSCI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, today launched a new s.
Business Wire

Investors Ask BMW, Glencore to Disclose Climate Risk in Accounts
(Bloomberg) -- Investors managing more than $9 trillion of assets have called on some of Europe's biggest companies to include an assessment about the ...
BloombergQuint

ESG Investing Prompts a (Slow) Response to Climate Change Risk
The world is warming. How will that impact your company's business? The macroeconomic costs of climate change and climate-related disasters will continue to ...
JD Supra

BlackRock debuts software that assesses climate risk for investors
Investment giant BlackRock has unveiled new software to help investors quantify climate risk and low-carbon opportunities relating to their portfolios.
edie.net

How Well-Prepared Are Pension Funds for Climate Risk?
A recent report by CFTC outlines how escalating climate risks could threaten pension payouts over the coming decades.
BRINK
Oct 22

Equity Investors Must Pay More Attention to Climate Change Physical Risk
By Felix Suntheim and Jérôme Vandenbussche · عربي, 中文, Español, Français, 日本語, Português, Русский. The damage from the 2011 floods in Thailand ...
International Monetary Fund

Climate Change a Problem for U.S. Banks' Investing Strategies, Finds Ceres
Major U.S. banks are feeling the pressure to address the threat of climate change, but many still don't know the risks to their own portfolios, according to new ...
Cheddar

$1tn asset manager launches climate-focused EM index
Northern Trust Asset Management has launched a new sustainable emerging market green transition index. It will focus on climate considerations and ...
citywireselector.com

Global investing under water? – Climate change could leave equities exposed
As impending global changes brought about by climate change loom, one issue in particular threatens to cause massive losses to institutional investors – rising.
Risk.net

Pricing in climate risk could be a risk of its own
Investors should be making data-informed decisions, and consistent and reliable climate-related data is imperative to do so. However, Julie Segal writes, based ...
National Observer

MSCI Launches Solution Enabling Investors to Assess Exposure to Climate Risk
MSCI Inc. (NYSE: MSCI), a leading provider of critical decision support tools and services for the global investment community, has today launched a s.
Business Wire

Climate change, new risks and opportunities for businesses
Businesses should evaluate the risks and opportunities of climate change and its mitigation to ensure their long-term resilience and success. Pushed by ...
LifeGate

Flood waters surround homes after Hurricane Florence hit Wilmington, North Carolina, in 2018. Worldwide losses from extreme weather events reached more than $3 trillion from 2010 to 2020.
Real Estate Investors Want to Know What Cities Are Doing About Climate Risks
The real estate industry is increasingly looking at how resilient communities are to natural disasters before deciding whether to buy or develop land.
Bloomberg

No time to rest after climate risk test
In early November, superannuation fund Rest and 25-year-old member Mark McVeigh agreed to settle McVeigh's case against Rest related to handling of ...
Investment Magazine


Climate Risk Could Hit Already Vulnerable Nations With a Double Whammy
If investors start backing away from their sovereign debt, it could become harder for countries to finance necessary adaptation measures.
Bloomberg

Understanding and Navigating Climate Risk at the Asset Level
The Task Force on Climate-related Financial Disclosures (TCFD) is helping to increase transparency of climate risks across capital markets, so participants have ...
S&P Global

Climate change added to Fed's financial risk report
The Federal Reserve recognized climate change as a key risk to U.S. financial stability in a report released Monday. The semiannual Financial Stability Report ...
Pensions & Investments

The Longer Term Does Arrive over Time—Financial Services Regulators and Investors Gearing Up for Climate Change Reforms
Swans can be white or black or … green? Our Financial Services & Products and Securities Groups consider climate change and environmental, social, and ...
JD Supra

Financial Markets and Regulators Are Still in the Dark on Climate Change
The novel coronavirus crisis has destabilized financial markets and has placed increasingly severe stress on financial institutions. Short-term funding markets ...
Center For American Progress

Climate Change and COVID-19 – IMF F&D
The COVID-19 pandemic is only a prelude to a looming climate crisis, and we have a decade to transform our economies and avoid catastrophic global warming ...
International Monetary Fund

ESG data gap 'critical issue' for climate risk management, BBVA exec says
... ➤ Pandemic recovery needs to be linked to green and social investment. ➤ Data gap on climate exposure critical for risk management. ➤ Fossil fuel ...
S&P Global

US banking sector faces larger climate risks than disclosed, says study
More than half of syndicated lending by the largest US financiers is exposed to climate risk, according to research by influential US non-profit Ceres - suggesting ...
Responsible-Investor.com


US Insurers Aren't as Concerned About Climate Risk as Global Peers, GSAM Finds | Chief Investment Officer
What effect will climate change have on investment portfolios? The vast majority of insurers around the world are deliberating the question. But not quite as much ...
Chief Investment Officer

ANALYSIS: Future Pressure on Financial Sector for Climate Action
Pressure on the financial sector to better manage climate-related risks could result in the implementation of more stringent lending and investment screening ...
Bloomberg Law

Environmental risks on the rise: Moody's
Environmental risks are becoming significant to a growing crop of corporate issuers, Moody's Investors *Service* says in a new report. The rating agency said the ...
Investment Executive

These companies are trying to predict what climate change will do to real estate investments
Investors are turning to a new breed of high-tech start-ups that can measure the risk climate change poses to real estate — from an hour to decades into the ...
CNBC

Climate is one thing – but how can the finance sector address biodiversity risk? - Investors' Corner
How do you calculate the value of a tree, or the microbes supporting it, or the more complex organisms that live in or depend on it? How do you value the system ...
Investors' Corner BNP Paribas

The SEC should require companies to disclose financial risks due to climate change.
Climate change, and the extreme and changed weather it causes, is not a risk for the far future. The consequences have arrived.
Slate


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