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Past Event

The rising impacts of climate change: Implications for science, law, capital markets, and policy

A joint event between the Markets at Risk initiative, the Environmental Defense Fund, and the Columbia Law School's Sabin Center for Climate Change Law

Past Event

The physical effects of climate change present risks across society. Increasingly, these varied perils, from hurricanes to heat-stress, wildfires and many others, are being understood through the lens of financial risk management. For example, a report from the Commodity Futures Trading Commissions identified climate change as “a major risk to the stability of the U.S. financial system and to its ability to sustain the American economy.” Many financial regulators outside the U.S. have similar perspectives, and there is rapidly growing pressure on financial actors to respond. The analytical tools needed to understand these financial risks from the physical impacts of climate change are improving rapidly and a new face of financial market regulation and response is coming into focus.

On March 31, the Markets at Risk initiative at Brookings, in collaboration with the Environmental Defense Fund and the Columbia Law School’s Sabin Center for Climate Change Law, hosted an event exploring these issues. Experts in climate science, finance, and the electricity sector considered the question at the heart of their research: What can the scientific, legal, energy, and financial sectors do to help the nation prepare for the growing impacts of climate change?  Questions from the audience followed the discussion.

Questions from the audience followed the discussion. Viewers can submit questions by emailing events@brookings.edu or on Twitter using #ClimateRisk.

A copy of the Markets at Risk paper on climate risk disclosures can be found here.

Agenda

Welcome and introductory remarks

Romany M. Webb

Senior Fellow - Columbia Law School's Sabin Center for Climate Change Law

New frontiers of research

Paper Author

Eric Gesick

Member - Academy of Actuaries (MAAA)

Fellow - Casualty Actuarial Society (FCAS)

Visiting Scholar - Institute on the Environment, University of Minnesota

Paper Author

Romany M. Webb

Senior Fellow - Columbia Law School's Sabin Center for Climate Change Law

Expert panel commentary

Panelist

Adam Sobel

Professor - Columbia University

Panelist

Susan Tierney

Former Assistant Secretary - United States Department of Energy

Senior Advisor - Analysis Group

Panelist

Tom Doe

President - Municipal Market Analytics

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