Common but differentiated responsibility for climate risks and opportunities
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Until a few years ago, climate change’s potential impact seemed abstract for many investors.
Now, as sea levels rise, hurricanes intensify, and droughts threaten food supplies, many investors are confronting its financial realities.
But it’s not a simple calculation.
These and other physical effects of climate change—as well as many, varied government policies trying to mitigate its effects—are also inspiring technological innovations that will give rise to new products, services, and business models in the coming years. How can investors effectively price these risks and opportunities?
Investment firms are evaluating climate risk primarily along two distinct dimensions.
They’re considering “physical risks,” such as the business and economic impact of warmer temperatures, more frequent and extreme weather events, and rising sea levels. Investors are also looking at the “transition risks” associated with shifting to a lower-carbon economy. New and more stringent regulations and practices will likely spur that transition, though it’s unclear how, when, and to what extent these changes will materialize.
Recognizing innovative opportunities amid the risk
“It’s unrealistic to say that coal corporations are going to transition to become solar installers,” says O’Hanley, CEO of State Street, “So, we need to be thinking about the disruption.” At the same time, he noted, “there will be brand new opportunities coming out of this.”
This is an extract from the Harvard Business School event on “How Investors Are Sizing Up Climate Change’s Risks—and Opportunities”
But is this an investor only responsibility?
What about business impacts from supply chains? What about differentiated geographic impacts? This event importantly discusses these and other matters as it considers “Common but differentiated responsibility for climate risks and opportunities”
This video is intended for those who are:
What you will learn
forewarned is forearmed
This will equip attendees with the abilities to explain the principles and drivers of climate change, understand the contributions which need to be made and how to measure them.
Watch the recording to learn how to:
Kindly sponsored by:
Control Risks is a global specialist risk consultancy that helps to create secure, compliant and resilient organisations. Combining unrivalled expertise, experience and reach with the power of data and technology, Control Risks provides the insight and intelligence needed to stay on track, realise opportunities and grow.
Member of the Advisory Committee
Alex Hetherington is a seasoned corporate sustainability professional with 25-years’ experience in carbon accounting, climate scenario analysis and investor insight into market-related climate risks and opportunities. He has worked with clients in Africa, USA, UK, Europe, Middle East and Australia.
Originally trained as a journalist, with a Bachelor of Arts degree in English and Politics from the University of Cape Town (1993), Alex took a MSc in Environmental Management from Imperial College, London (2004), and recently completed a CPA in Sustainable Finance and Investment from Columbia University in the city of New York (2021).
Having established himself as an early pioneer in corporate sustainability strategy, Alex co-founded Carbon
Calculated, a carbon management and climate change consultancy, which has worked with over thirty companies and brands across multiple geographies. He currently consults on investor understanding of climate risk and response.
Michael is a co-founder, Executive Director, and Dean of the Greenhouse Gas Management Institute, a non-profit organization with the unique mission to train and professionalize a global community of experts for measuring, auditing and managing greenhouse gas (GHG) emissions.
Michael is a thought leader on GHG measurement, reporting, and verification (MRV), carbon offsets, additionality, green power, and environmental markets. Beyond guiding the Institute’s strategy and programming, Michael also directs the Institute’s curriculum development and educational initiatives.
He has been a lead author for the Nobel Peace Prize winning Intergovernmental Panel on Climate Change since 1999, and has been engaged in the work of the UN Climate Change secretariat, including the training of compliance experts for the Kyoto Protocol and UNFCCC. He is a core advisor and contributing author to the WRI/WBCSD GHG Protocol. At the U.S. Environmental Protection Agency, he was lead author of the U.S. GHG emissions inventory, which serves as the official report and statistics on U.S. emissions. He has also served on the U.S. negotiating team to UN conferences on climate change.
He founded and serves as a co-Editor in Chief for the peer reviewed journal Carbon Management published by Tyler & Francis. Michael completed his PhD at the Science, Technology & Environmental Policy Program at Princeton University, where his research was on the economics of renewable energy and emission markets and design of environmental commodities.
Michael has three master’s degrees: in environmental engineering, technology policy, both from MIT, and in evolutionary systems from the University of Sussex where he was a Fulbright scholar. He has bachelors in mechanical engineering from Texas A&M.
Michael specialises in climate change policy, capacity building, carbon management, renewable energy, non-profit management, GHG accounting, MRV, and green power.
Director of ESG Solutions at Control Risks
Emma is a Director based in London, leading Control Risks’ environmental practice for EMEA, which forms part of our wider global Environmental Sustainability Governance (ESG) consulting team.
She has more than 25 years of experience as an environmental consultant, and for the last six years, has specialised in ESG and sustainability consulting. Emma has advised on many high profile projects across the world.
Emma supports private equity firms, institutional investors, and sovereign wealth funds, in addition to global corporations in the automotive, fast moving consumer goods, chemical and pharmaceutical, energy and technology sectors.
She has advised on a range of large global infrastructure projects, with particular experience in renewables, biofuels, water, road, and rail infrastructure. In addition, she specialises in soil and groundwater pollution, natural hazard and climate change risks, and net-zero and sustainability strategies. Her work often supports her clients’ investment decisions and business cases or assists with internal audits and compliance.
Emma recently completed the Sustainable Finance course at the Cambridge Institute of Sustainable Leadership, and has since been advising a number of private equity houses around fund strategies and ESG assessment metrics to comply with Sustainable Finance Disclosures Regulation (SFDR), Task Force on Climate-related Financial Disclosures (TCFD) and EU taxonomy requirements.
Before joining Control Risks, Emma was with Arcadis and Environmental Resources Management (ERM). Emma’s global experience includes projects in the UK, Europe, Pakistan, India, Brazil, and North America.
Chair of the Technical Committee
Peadar Duffy is Archer’s Global ESG Practice Lead, and is responsible for leveraging his thought leadership in the organizational risk and governance domains to provide strategic direction and collaboration across Archer’s internal and external partners in the design and development of Archer’s ESG solutions.
He currently represents Ireland on the ISO technical committees for Risk Management (TC 262) and the Governance of Organisations (TC 309) where he is involved in the development and revision of various guidelines, reports and technical specifications.
Most recently Mr. Duffy had been involved with other international experts in the development of the first global governance guideline which emphasizes organizational purpose and other ESG-sustainability principles underpinning performance and long-term viability. Mr. Duffy began his 25-year career in risk management spanning multiple industry sectors in Ireland, the US and Middle East following 15 years in the Irish military.
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