Climate information for the finance sector: case studies in France and the Netherlands

18:00 Tuesday 28 May

PO045

PS4

 

Florian Gallo (France) 1; Violaine Lepousez (France) 1

1 - Carbone 4

Climate change is happening, and its effects are already visible across the world. Human activities and businesses are being impacted in all sectors by extreme weather and climate events and chronic shifts in climate such as increasing temperature, changes in rainfall patterns and sea-level rise. The physical impacts of climate change are expected to worsen over the next few decades, threatening financial investments and activities.

If the regulatory framework has evolved, with the set of recommendations issued by the Task Force on Climate-Related Financial Disclosures (TCFD) for a better climate risks reporting in the financial sector, the investors lack the tools and expertise to quantify the impacts of physical climate risks on their assets and investments. Moreover, the physical impacts of climate change are highly localized, and tailored, detailed information is needed, from climate variables to financial indicators.

Here we will describe the ClimINVEST project through the first results of some of the case studies in various sectors in France and in the Netherlands. We will present both the methods and the tailored information generated for the finance sector, from the assessment of vulnerabilities to the creation of financial indicators. We will describe commonalities and differences across sectors, contexts and institutions. We will also highlight the challenges and the opportunities of the project’s inter-disciplinary approach.

Note about the project: the ClimINVEST project involves climate researchers, climate finance specialists and practitioners (CICERO, Wageningen University, Météo France, I4CE, Carbone 4 and Climate Adaptation Services). It aims to enhance communication and capacity building between climate specialists and the financial sector. ClimINVEST brings scientists and investors together to develop tailored tools and indicators to translate the physical data into usable information on investment portfolios, through a co-production approach.