![]() Richard Roberts& John Elkington (Volans): “ Innovation and Transformation: What it will take to finance net zero” looks at how finance and the economy can transform to meet the Paris Agreement, with a particular focus on the 1.5☌ Low Energy Demand (LED) scenario, as outlined in the IPCC’s Special Report on Global Warming of 1.5☌.Dennis Pamlin (Research Institutes of Sweden): “ Transformations Required for 1.5☌ Alignment and Global Sustainability” takes a look at the actions needed to deliver a 1.5☌ society.Dr Ben Caldecott (University of Oxford): “ Achieving Alignment in Finance” explores what climate alignment means for financial institutions.Read the previous four papers in the series: The report aims to explore the leadership roles of regulators and the implications for financial institutions to accelerate the transition towards a resource-efficient and inclusive economy. Regulators now also have a moral responsibility to support green recoveries from the COVID-19 pandemic. The authors state that while central banks and financial regulators should not be the leading institutions tackling climate change, their core objectives of price and often financial stability will not be achieved in the long-run unless they ramp up efforts to green the financial system. Rather than providing a review of existing literature on climate risks and financial policymaking, the authors suggest 10 cutting-edge proposals across 5 themes: managing systemic risks, regulating impact, managing credit out of fossil fuels and deforestation, greening portfolios, and regulating the just transition. This report outlines practical policies that regulators could adopt to address the needs of society and the planet. In the face of the climate change crisis, central banks and financial regulators are presented with the challenge of safeguarding financial stability and adapting their practices to manage environmental threats. James Vaccaro & David Barmes (Climate Safe Lending Network):įinancial Stability in a Planetary Emergency: the Role of Banking Regulators in a Burning World What are the pathways and choices needed for financial institutions and the financial system to drive an active transition to a net-zero carbon economy?įollowing the launch of the first two papers in September 2020 and the third and fourth papers in December 2020, the fifth and sixth papers aim to address two key elements of the finance sector and how they can help deliver a low carbon economy.What are the various strategies and action tracks through which financial institutions can enhance and achieve full portfolio alignment?.What is the future of financial institutions as a result of these changes?.How do financial institutions achieve alignment with the Paris Agreement and how does it differ from transition risk transparency as captured in the TCFD?.What economic system transformation is actually required to deliver the Paris Agreement?.The papers in this series will respond to a number of key questions: This series convenes innovators and industry experts to provoke discussion, challenge the status quo and accelerate the transition towards a sustainable economy. Our aim is to inspire financial actors worldwide to move from risk to alignment, challenge current assumptions around climate alignment and develop ideas and concepts on how alignment can best be achieved. We hope to convey to stakeholders that a proactive climate response is not only about disclosing risks, but also about investing in green opportunities that can enable the low emissions societies of the future. ![]() UNEP FI has partnered with EIT Climate-KIC to bring the Thought Leadership Series, which presents papers from some of the world’s leading thinkers to help guide the financial sector towards a sustainable future.
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