Climate Change And The Canadian Financial Sector

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Climate Change And The Canadian Financial Services Sector

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Author : Olena Kholodova
language : en
Publisher:
Release Date : 2017

Climate Change And The Canadian Financial Services Sector written by Olena Kholodova and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Carbon dioxide mitigation categories.

Canada is highly dependent on the emission intensive sectors and at the same time, sectors that are vulnerable to variations in weather and extreme events. This makes the Canadian economy especially vulnerable to the impacts of climate change and any efforts to address it. The financial services sector is responsible for the provision of capital to all economic sectors and, therefore, it must consider all climate change-related risks and opportunities in its capital allocation decisions. This study explores the perception of climate change by the financial services sector in Canada and the extent of the sector's response to climate-related impacts to date. The study adopted an institutional view of isomorphism to explain the behaviours of the financial sector in relation to climate change. The research was conducted through qualitative analysis of interviews with representatives of the Canadian financial sector and a review of the latest available responses to the Climate Disclosure Project's (CDP) climate change questionnaire. The research's primary focus was on climate change consideration in the lending and investment portfolios of the financial institutions. The research involved investigation of the industry's awareness of five climate-related risks - physical, reputational, regulatory, litigation, and transition risks - in the Canadian context and the level of substantive actions taken by participating institutions. The study found that the level of the sector's preparedness is low because coercive, normative, and mimetic isomorphic pressures have only existed for a short time. The Canadian financial institutions are in early stages of exploring climate change-related risks and opportunities for their lending and investment businesses. The study concludes with recommendations for the industry and proposals for further research on climate-related risks and opportunities for the financial sector through quantitative methods.

Climate Change And The Canadian Financial Sector

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Author : Olaf Weber
language : en
Publisher:
Release Date :

Climate Change And The Canadian Financial Sector written by Olaf Weber and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.

Carbon Finance

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Author : Sonia Labatt
language : en
Publisher: John Wiley & Sons
Release Date : 2011-07-20

Carbon Finance written by Sonia Labatt and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-07-20 with Business & Economics categories.

Praise for Carbon Finance "A timely, objective, and informative analysis of the financial opportunities and challenges presented by climate change, including a thorough description of adaptive measures and insurance products for managing risk in a carbon constrained economy." —James R. Evans, M. Eng. P. Geo., Senior Manager, Environmental Risk Management, RBC Financial Group "Climate change will have enormous financial implications in the years to come. How businesses and investors respond to the risks and opportunities from this issue will have an enormous rippling effect in the global economy. Sonia Labatt and Rodney White's insights and thoughtful analysis should be read by all who want to successfully navigate this global business issue." —Andrea Moffat, Director, Corporate Programs, Ceres "In Carbon Finance, Labatt and White present a clear and accessible description of the climate change debate and the carbon market that is developing. Climate change is becoming an important factor for many financial sector participants. The authors illustrate how challenges and opportunities will arise within the carbon market for banking, insurance, and investment activities as well as for the regulated and energy sector of the economy." —Charles E. Kennedy, Director and Portfolio Manager, MacDougall, MacDougall & MacTier Inc. "Climate change is the greatest environmental challenge of our generation. Its impact on the energy sector has implications for productivity and competitiveness. At the same time, environmental risk has emerged as a major challenge for corporations in the age of full disclosure. Carbon Finance explains how these disparate forces have spawned a range of financial products designed to help manage the inherent risk. It is necessary reading for corporate executives facing challenges that are unique in their business experience." —Skip Willis, Managing Director Canadian Operations, ICF International "In this timely publication, Labatt and White succeed in communicating the workings of carbon markets, providing simple examples and invaluable context to the new and changing mechanisms that underpin our transformation to a carbon-constrained world. Carbon Finance will be the definitive guide to this field for years to come." —Susan McGeachie, Director, Innovest Strategic Value Advisors, Graduate Faculty Member, University of Toronto; and Jane Ambachtsheer, Principal, Mercer Investment Consulting, Graduate Faculty Member, University of Toronto

Strategies For Integrating The Canadian Financial Sector Into Financing The Transition To A Low Carbon Economy

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Author :
language : en
Publisher:
Release Date : 2019

Strategies For Integrating The Canadian Financial Sector Into Financing The Transition To A Low Carbon Economy written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.

With experts from academia, national agencies, international institutions and the private sector, the Global Economy Program supports research in the following areas: management of severe sovereign debt crises; central banking and international financial regulation; China's role in the global economy; governance and policies of the Bretton Woods institutions; the Group of Twenty; global, plurilate [...] The main points in this report are that climate affects have significant impacts on the Introduction economy, that Canada must invest in the low- carbon economy and the transition to get there and that the financial services industry has a As the threat of climate change materializes, key role to play (Government of Canada 2018). [...] The paper also presents the results of a to a low-carbon economy in the other sectors survey across Canadian financial practitioners on listed above needs considerable investments on the feasibility of strategic policy recommendations the one hand and exposes the financial industry regarding financing the transition to a low- to material financial risks on the other hand. [...] On The following sections describe the current the positive side, investments in climate change knowledge about climate effects on the mitigation and adaptation of about US$400 billion economy and the connection between climate per year have been made since the 2015 United change and financial sector stability. [...] Canadian context, the authors asked Canadian financial sector representatives to evaluate the Finally, green credit policies, such as those policies with regard to their usability, likelihood in China, can promote concepts related to of increasing the involvement of the financial Figure 4: Products and Services Enabling the Financial Industry to Engage in Climate Finance Asset Management and Fiduc.

Scenario Analysis And The Economic And Financial Risks From Climate Change

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Author : Erik Ens
language : en
Publisher:
Release Date : 2020

Scenario Analysis And The Economic And Financial Risks From Climate Change written by Erik Ens and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with Banks and banking categories.

"Central banks are increasingly focused on the risks from climate change for the economy and financial system. Two sets of risks are of particular concern: physical risks from more frequent and severe weather events, and transition risks from the move toward a lower-carbon intensive economy. This paper adapts climate-economy models that have been applied in other contexts for use in climate-related scenario analysis. We consider illustrative scenarios for the global economy that could generate economic and financial system risks by varying assumptions on key variables such as climate policy in plausible ways. The results show significant economic implications from climate change and the transition to a low-carbon economy. The timing and magnitude of global GDP and sectoral impacts, among other outcomes, vary considerably under the mix of scenarios. These risks touch on the interests of a broad range of stakeholders across the private and public sectors. In addition to central banks and governments, these risks could affect financial institutions, resource-intensive industries and other private sector firms. Further improvements in scenario analysis, as well as wider-spread use across the public and private sectors, could lead to a better understanding of the risks and opportunities of climate change"--Abstract, page iii.

Leveraging Sustainable Finance Leadership In Canada

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Author :
language : en
Publisher:
Release Date : 2019

Leveraging Sustainable Finance Leadership In Canada written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.

Finally, the report introduces the work of the G20's Eminent Persons Group and the pillars it proposes to safeguard the stability of the global financial and monetary system. [...] In response to the first report of the G20 Eminent Persons Group, and in the context of most climate science, as published by the International Panel on Climate Change on 1.5°C of warming, this report proposes a rationale for Canadian financial sector supervisors and regulators to be engaged in international efforts to share best practices, to contribute to the development of environment and clima [...] Canada is clearly no exception: in April 2018 the Canadian Securities Administrators (CSA) published its own assessment (CSA, 2018), and this was followed by the work of the four-person Expert Panel on Sustainable Finance (EPSF) with a mandate from the Minister of Environment and Climate Change and the Minister of Finance of the Government of Canada (see Box 1). [...] As the CSA wrote in its Staff Notice 51-354 Report on Climate Change- Related Disclosure Project, "[TCFD recommendations] diverge significantly from the disclosure requirements of Canadian securities laws by advocating the use of scenario analysis to assess the resilience of the organization's business strategy in the face of climate change and the transition to a lower-carbon economy." Ensuring t [...] Simply put, these assessments, in Canada and globally, have found that the process of translating climate scenarios and the ensuing risks and opportunities into impacts on cashflows emanating from assets and a discussion of strategic plans in financial statements will require new capacity on the part of preparers and assurers of financial statements and those charged with governance of issuing the.

Managing Climate Risk In The U S Financial System

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Author : Leonardo Martinez-Diaz
language : en
Publisher: U.S. Commodity Futures Trading Commission
Release Date : 2020-09-09

Managing Climate Risk In The U S Financial System written by Leonardo Martinez-Diaz and has been published by U.S. Commodity Futures Trading Commission this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-09 with Science categories.

This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742

Climate Change Risk Management In Banks

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Author : Saloni P. Ramakrishna
language : en
Publisher: Walter de Gruyter GmbH & Co KG
Release Date : 2023-12-04

Climate Change Risk Management In Banks written by Saloni P. Ramakrishna and has been published by Walter de Gruyter GmbH & Co KG this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-12-04 with Business & Economics categories.

Banks, like other businesses, endeavor to drive revenue and growth, while deftly managing the risks. Dubbed the next "frontier" in risk management for financial services, climate related risks are the newest and potentially the most challenging set of risks that banks are encountering. On the one hand, banks must show their commitment to becoming net zero and, on the other, help their customers transition to more sustainable operations, all this while managing climate-related financial risks. It is a paradigm shift from how the banking industry has traditionally managed risks as climate change risks are complex. They are multilayered, multidimensional with uncertain climate pathways that impact real economy which in turn influences the financial ecosystem in myriad ways. Climate Change Risk Management in Banks weaves the complete lifecycle of climate risk management from strategy to disclosures, a must-read for academics, banking professionals and other stakeholders interested in understanding and managing climate change risk. It provides much-needed insights, enabling organizations to respond well to these new risks, protect their businesses, mitigate losses and enhance brand value. Saloni Ramakrishna, an acknowledged financial industry practitioner, argues that given the uncertain and volatile climate paths, complex geopolitical patterns, and sustainability challenges, banks and business professionals will benefit from a wholistic approach to managing climate change risks. The book provides a blueprint and a cohesive framework for embracing and maintaining such an approach, in a simple and structured format.

Sustainable Banking

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Author : Olaf Weber
language : en
Publisher: University of Toronto Press
Release Date : 2016-01-01

Sustainable Banking written by Olaf Weber and has been published by University of Toronto Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-01 with Business & Economics categories.

Sustainable Banking introduces business leaders and students to the many ways in which financial institutions can manage their environmental and social impact and meet the needs of the current generation without compromising the needs of future generations. Olaf Weber and Blair Feltmate go beyond the business case for sustainability: how managing environmental, social, and governance risk can contribute to a bank's bottom line - to make the sustainability case for banking: how banks and other financial institutions can make a positive impact on society. In their book, Weber and Feltmate discuss the key aspects involved in making a financial institution sustainable: how to manage the direct and indirect impacts of banking activities on the community and the environment, how to minimize and mitigate the environmental footprint of internal operations, and how to account for various types of environmental and social risk in lending and project finance. They also introduce sustainable banking products and strategies being adopted by industry leaders, such as responsible investing, social finance, and impact lending.

Iceland

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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2023-07-28

Iceland written by International Monetary Fund. Monetary and Capital Markets Department and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-28 with Business & Economics categories.

The Icelandic authorities are committed to addressing climate change issues and reaching ambitious objectives to reduce GHG emissions. Iceland is naturally exposed to significant natural hazards, such as volcanic eruptions and extreme weather conditions. The country is also exposed to physical risks resulting from climate change, such as sea acidification and melting glaciers (a long-term risk), as well as climate change transition risks, for instance, concerning the fisheries and transportation sectors. Still, Iceland can leverage its unique assets to overcome challenges of adapting to climate change. One asset is Iceland’s abundant domestically produced renewable energies that cover nearly all the country’s heat and electricity production needs. The 2020 Climate Action Plan and the 2021 Iceland’s Strategy on Adaptation to Climate Change include ambitious objectives toward GHG emissions’ neutrality.