Role of disclosure in addressing climate data deficiency | Geoff Summerhayes, Sustainable Insurance Forum

On the 22nd February 2019, Geoff Summerhayes gave this speech in London at the Sustainable Insurance Forum.

“The weight of money, through consumer demand, investor decisions and regulatory responses, is pushing the transition to a low carbon economy relentlessly forward. This shift has consequences for us all, but to make good decisions, governments, regulators, businesses and investors need access to timely, reliable and sufficiently granular information.”

The worst-case scenario for global warming just got 14°F worse | Think Progress

And halfway through the book he says, in all caps, “If you have made it this far, you are a brave reader.” He admits that any of those chapters contains, “enough horror to induce a panic attack in even the most optimistic of those considering it.”

Climate change-related litigation was once seen as a joke, but could soon become business reality | ABC

Emma Herd, chief executive of the Investor Group on Climate Change and member of the global Steering Committee for the Climate Action 100+, said the change in sentiment was because of greater recognition by CEOs that climate change is not just an ethical issue.

"This is about financial risk, as well a company's social licence to operate," she said.

Brian Preston: The activist judge shaking the climate change world | AFR

In what lawyers say is one of the most important parts of the decision, Preston rejected Fisher's "market substitution" argument. There was no proof other mines would go ahead, he asserted, and wealthy countries such as Australia have a responsibility under the Kyoto Protocol and the Paris agreement "to take the lead" on climate change.

Why Glencore's Ivan Glasenberg buckled on coal | Financial Review

Glasenberg said the coal production cap was part of the company's climate change policy, which could also see it dropping its support of the World Coal Association.

"Our commodity portfolio and its key role in enabling the energy and mobility transition for a low-carbon economy enables us to look ahead with confidence and to remain focused on creating sustainable long-term value for all our shareholders," he said.

Facing up to the age of environmental breakdown | IPPR

“In the extreme, environmental breakdown could trigger catastrophic breakdown of human systems, driving a rapid process of ‘runaway collapse’ in which economic, social and political shocks cascade through the globally linked system – in much the same way as occurred in the wake of the global financial crisis of 2007-08,” the paper warns.

What is the role of central banks in managing climate change? | London Institute of Banking and Finance

Dr Paul Fisher, well known to many at Climate Alliance has written a very interesting article for the London Institute of Banking and Finance. He asks the question whether central banks should play a role in managing the risks presented by climate change.

Companies Most Exposed to Climate Change Risks | Barrons

“We’re steadily moving toward a new normal where billion-dollar disasters are a regular occurrence,” says Emilie Mazzacurati, founder and CEO of Four Twenty Seven. “This combination of extreme weather events and growing pressure from asset owners and regulators is pushing a lot of businesses to look for a way to understand their exposure and start managing their risks.”

Greta Thunberg at the WEF in Davos

The Global Risks Report 2019 | World Economic Forum

Untitled56.png

Extreme weather is again out on its own in the top-right (high-likelihood, high-impact) quadrant of the Global Risks Landscape 2019. The year 2018 was another one of storms, fires and floods.19 Of all risks, it is in relation to the environment that the world is most clearly sleepwalking into catastrophe. 

You can download the report here, or go to the WEF webpage for more information.