For the finance sector, which lies at the heart of today’s globalizing, market-based economy, climate change presents as a dual challenge:

  • On the one hand, new risks – recently categorized into transition-, physical, and liability-risks –  need to be understood, identified, assessed, managed, and eventually disclosed on, by institutions across financial industries.
  • On the other hand will the transition to low-carbon and climate-resilient economies require additional investment at an order of magnitude of at least USD 60 trillion, from now until 2050; investment requires financing which to financial institutions manifests as new business opportunity: USD 35 trillion are needed to decarbonize, through renewable energy and energy efficiency, the world’s energy system; another USD 15 trillion to adapt manmade infrastructure to changing meteorological conditions; and another 2 USD trillion to reorganize global land-use is ways that meet growing demands for agricultural commodities while stopping tropical deforestation.

FIs need to understand the risks and opportunities above, and know how to act on them. UNEFI delivers to professionals in the financial industry briefings and other resources aimed at equipping them with the required understanding and know-how.

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