Worsening climate change and a disorderly transition to a low-carbon economy introduce new sources of risk for countries’ sustainable development. In order to strengthen fiscal and financial risk management, it is crucial to understand through which channels climate risks can cascades onto agents and sectors of the economy and finance, and the drivers of potential shock amplification.
The direct, indirect, and cascading climate impacts that could unfold are influenced by country-specific exposures and structural characteristics and can compound with other sources of stress. However, financial industry players and policy makers still lack a coherent framework and tools to assess the macro-financial criticality of cascading climate risks to their business, and to adapt risk management.
Professor Irene Monasterolo from EDHEC Business School, the Vienna University of Economics and Business Team and Chatham House are pleased to invite you to the COP26 event: Macrofinancial relevance of cascading climate risks: insights for investors and financial supervisors.
The event will take place online on November 3, 2021, 10.30 am - 11.30 am CET. This virtual roundtable is hosted in the Chatham House’s Climate Risk and Security Pavilion during COP26.
The event will feature a panel of experts from Amundi, Banque de France, Ca’ Foscari University of Venice, EDHEC Business School, Intergovernmental Panel on Climate Change, the University of Zurich, Université Libre de Bruxelles, the World Bank, WU Wien.
In this session, our expert panel will discuss the following issues:
- What are the drivers and potential implications of cascading climate risks for macroeconomic and financial stability?
- Through which channels can climate risks cascade on financial actors’ balance sheets and financial stability? Do we have the right tools to assess them?
- Could cascading risks be integrated into financial risk management of financial actors and supervisors, and what implications would this have on financial regulation?
Partners: CASCADES funded by the European Union's Horizon 2020 research and innovation programme under grant agreement No. 821010, WU Wien, Waddesdon Club, Chatham House
How to register?
Registration is complimentary to all members of the public here: https://chathamhouse.cplus.live/sign-up/chatham-house-climate-risk-and-security-pavilion
By registering, you are able to access any event taking place on the platform from 1st to 11th November. An agenda for the fortnight, and daily reminders will be emailed to you so you can attend sessions and view the content of most relevance to you, and at your leisure.
Please note: for the best viewing experience please join us from your desktop, using Google Chrome, Firefox or Microsoft Edge. This platform is not compatible with Internet Explorer or Safari.
If you have any questions or issues during the event, please click on the 'Help' button in the top right of the screen to be connected with our support team or contact [email protected].
For any additional information, please contact Maud Gauchon at [email protected].