A Guidebook for National Development Banks on Climate Risk

2021 ◽  
Author(s):  
Maria E. Netto de A. C. Schneider ◽  
Rodrigo Pereira Porto ◽  
Maria Chiara Trabacchi ◽  
Signi Schneider ◽  
Sara Harb ◽  
...  
Keyword(s):  
Portfolio Management ◽  
Financial Risk ◽  
Task Force ◽  
National Development ◽  
Climate Risk ◽  
Climate Risks ◽  
Financial Disclosures ◽  
Development Banks ◽  
Lending Decisions

This guidebook provides national development banks (NDBs) a roadmap to integrating climate risk into their lending strategies and portfolio management in accordance with the recommendations of the Task Force on Climate-related Financial Disclosures. The journey from little action on climate to becoming climate capable allows an NDB to better understand the financial risk to itself and its clients arising from climate change, and allows it to capture new opportunities. Making climate-informed investment and lending decisions and, in the long term, allocating capital in a manner that aligns with the global curbing of emissions is good business. This guidebook is written for those NDBs heeding the call to address the climate challenges in their countries as well as to raise awareness of the urgency to act on climate risks among those that are new to the topic. NDBs, as financial institutions, need to address the potential impacts on their existing and future portfolios and financial positions.

Colombia’s System of National Development Banks

2018 ◽  
Author(s):  
José Antonio Ocampo ◽  
Paola Arias
Keyword(s):  
Market Failure ◽  
Local Development ◽  
National Development ◽  
Financial Inclusion ◽  
Market Failures ◽  
Major Market ◽  
Entrepreneurial Growth ◽  
Development Banks ◽  
Specialized Institutions

The major feature of Colombia’s national development banks is that they constitute a system of multiple, specialized institutions, created at different times to promote sectors that were considered strategic for the country’s development. This chapter analyses the characteristics of the system of national development banks in Colombia currently composed of four specialized institutions: FDN (for infrastructure), FINDETER (local development), BANCOLDEX (industry and foreign trade), and FINAGRO (agriculture). The chapter explores the history, current structure, and main features of the system. It also looks at how the system is managing three major market failures: infrastructure financing (the major case of market failure in long-term financing), financial inclusion, and the promotion of entrepreneurial growth.

scholarly journals Briefing: task force for climate financial disclosures (TCFD) for the property and construction industry

2020 ◽  
Vol 5 ◽  
pp. 3 ◽  
Author(s):  
Renard Siew
Keyword(s):  
Climate Change ◽  
Data Collection ◽  
Best Practices ◽  
Construction Industry ◽  
Task Force ◽  
Direct Response ◽  
Main Contributor ◽  
Climate Risks ◽  
Financial Disclosures

The property and construction industry are known to be a main contributor to climate change contributing more than 40% of the world's emissions. In direct response to this, there has been a call for corporations to be more transparent and align themselves to the requirements of the task force for climate financial disclosures (TCFD). This paper seeks to provide a briefing on the requirements of the TCFD. It highlights common challenges faced by the property and construction industry in implementing TCFD such as the difficulty in integrating climate related risks and translating them into quantitative measures, lack of capability within the industry to understand the complexities of climate risks and data collection issues among others. Recommendations are proposed to address these issues including setting up an industry specific network to share best practices in TCFD, harmonisation of existing frameworks to include TCFD requirements and exploring opportunities for incentivisation and rewards for early movers. This paper will be useful to property and construction industry practitioners who are looking at aligning to the requirements of the TCFD.

scholarly journals From Urban Façade to Green Foundation: Re-Imagining the Garden City to Manage Climate Risks

2021 ◽  
Vol 6 (4) ◽  
pp. 4-8
Author(s):  
Rob Swart ◽  
Wim Timmermans ◽  
Jos Jonkhof ◽  
Hasse Goosen
Keyword(s):  
Risk Management ◽  
Urban Planning ◽  
Climate Risk ◽  
Garden City ◽  
Early 21St Century ◽  
Climate Risks ◽  
Wide Range ◽  
Climate Risk Management ◽  
Planning Concepts

<div><p>Climate risk management evolves rapidly from one additional challenge for urban planning into a radical driver of urban development. In addition to fundamental changes in urban planning to increase long-term resilience, the creation of new opportunities for sustainable transformation is imperative. While urban planners increasingly add climate risks to their menu, implementation of effective action is lagging. To reduce urban infrastructure’s vulnerability to heat and flooding, cities often rely on short-term incremental adjustments rather than considering longer-term transformative solutions. The transdisciplinary co-development of inspiring urban visions with local stakeholders over timescales of decades or more, can provide an appealing prospect of the city we desire—a city that is attractive to live and work in, and simultaneously resilient to climate hazards. Taking an historic perspective, we argue that re-imagining historical urban planning concepts, such as the late 19<sup>th</sup>-century garden city until early 21st century urban greening through nature-based solutions, is a pertinent example of how climate risk management can be combined with a wide-range of socio-economic and environmental goals. Climate knowledge has expanded rapidly over the last decades. However, climate experts mainly focus on the refinement of and access to observations and model results, rather than on translating their knowledge effectively to meet today’s urban planning needs. In this commentary we discuss how the two associated areas (urban planning and climate expertise) should be more fully integrated to address today’s long-term challenges effectively.</p></div>

Disruption and damages: climate-related risks to the Australian oil and gas sector

2021 ◽  
Vol 61 (2) ◽  
pp. 395
Author(s):  
Stephanie M. Downes ◽  
Amy Steel ◽  
Enrico Favaro ◽  
Michael Wood
Keyword(s):  
Global Economy ◽  
Oil And Gas ◽  
Task Force ◽  
Climate Extremes ◽  
Climate Scenario ◽  
Low Carbon ◽  
Lower Priority ◽  
Climate Risks ◽  
Emissions Scenarios ◽  
Financial Disclosures

The oil and gas (O&amp;G) sector has made significant commitment to reduce greenhouse gas emissions by decarbonising operations and transitioning portfolios to lower-carbon products. However, assessing the impacts of physical climate risks on assets and value chains has remained a lower priority, despite climate change consistently rated the highest risk to the global economy. Here we present selected case studies of the most relevant physical climate risks that impact key infrastructure across the O&amp;G sector, now and in the future, with and without global abatement (that is, in high and low emissions scenarios). We focus on physical climate risks including sea level rise impacts on an offshore processing region, flooding and drought impacts in an onshore processing region, and highlight supply chain impacts on shipping and ports due to climate extremes such as cyclones. These risks all have the potential to have significant and adverse impacts on Australia’s O&amp;G sector and have a direct impact on the ability of the sector to transition to a low-carbon future. We conclude with an overview of why and how companies should undertake climate scenario analysis for physical risks, in alignment with the Task Force on Climate-related Financial Disclosures.

The Importance of Climate Risks for Institutional Investors

2020 ◽  
Vol 33 (3) ◽  
pp. 1067-1111 ◽  
Author(s):  
Philipp Krueger ◽  
Zacharias Sautner ◽  
Laura T Starks
Keyword(s):  
Risk Management ◽  
Institutional Investors ◽  
Risk Perceptions ◽  
Climate Risk ◽  
Climate Risks

Abstract According to our survey about climate risk perceptions, institutional investors believe climate risks have financial implications for their portfolio firms and that these risks, particularly regulatory risks, already have begun to materialize. Many of the investors, especially the long-term, larger, and ESG-oriented ones, consider risk management and engagement, rather than divestment, to be the better approach for addressing climate risks. Although surveyed investors believe that some equity valuations do not fully reflect climate risks, their perceived overvaluations are not large.

On Climate Change Risks of Long-Term Socio-Economic Development in Russia

2019 ◽  
pp. 79-95
Author(s):  
N.E. Terentiev
Keyword(s):  
Climate Change ◽  
Economic Development ◽  
Technological Innovation ◽  
Global Climate Change ◽  
Global Climate ◽  
Climate Risk ◽  
Climate Change Risks ◽  
Socio Economic Development ◽  
Management Policies

Based on the latest data, paper investigates the dynamics of global climate change and its impact on economic growth in the long-term. The notion of climate risk is considered. The main directions of climate risk management policies are analyzed aimed, first, at reducing anthropogenic greenhouse gas emissions through technological innovation and structural economic shifts; secondly, at adaptation of population, territories and economic complexes to the irreparable effects of climate change. The problem of taking into account the phenomenon of climate change in the state economic policy is put in the context of the most urgent tasks of intensification of long-term socio-economic development and parrying strategic challenges to the development of Russia.

Twilights and rebirths of National Development Banks in Latin America: Understanding factors that could have affected different trajectories in Argentina and Brazil

2016 ◽  
pp. 101-139
Author(s):  
María Luz Martínez Sola
Keyword(s):  
Political Economy ◽  
Industrial Policy ◽  
National Development ◽  
Second World War ◽  
Three Dimensions ◽  
Historical Period ◽  
World War ◽  
Political Coalitions ◽  
Development Banks ◽  
Second World

National Development Banks (NDB) could be pictured as engines pushing backward economies through the developmental ladder's rungs. After being key protagonists of industrial policy after Second World War, most NDBs were dismantled during the 1980s and 90 s. Notable exceptions to this trend exist, however. The goal of this study is thus to understand the political economy issues; Institutional Capacity International Bargaining Power and Domestic Political Coalitions; that explain those trajectories, by taking the cases of Argentina (BANADE) and Brazil (BNDES). When analyzing these three dimensions of political economy the paper concludes that the main difference between BANADE and BNDES' trajectories seems to stem from the diverse Domestic Political Coalitions crafted by Argentina and Brazil, in each historical period. Understanding the underlying conditions to create a cohesive and solid NDB is fundamental to reassess their roles in the XXI century industrial policy.

Financial Sustainability and Infrastructure Finance

2018 ◽  
Author(s):  
Felipe Carvalho de Rezende
Keyword(s):  
Financial Institutions ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Financial Sustainability ◽  
Infrastructure Finance ◽  
Strategic Role ◽  
Development Banks ◽  
The Global Financial Crisis ◽  
Capital Development

Among the lessons that can be drawn from the global financial crisis is that private financial institutions have failed to promote the capital development of the affected economies, and to dampen financial fragility. This chapter analyses the macroeconomic role that development banks can play in this context, not only providing long-term funding necessary to promote economic development, but also fostering financial stability. The chapter discusses, in particular, the need for public financial institutions to provide support for infrastructure and sustainable development projects. It concludes that development banks play a strategic role by funding infrastructure projects in particular, and outlines the lessons for enhancing their role as catalysts for mitigating risks associated with such projects.

scholarly journals Economic Uncertainties in Retirement: Risk Factors, Strategies, and Resilience

2020 ◽  
Vol 4 (Supplement_1) ◽  
pp. 685-685
Author(s):  
Christine Bishop ◽  
Karen Zurlo
Keyword(s):  
Older Adults ◽  
Financial Risk ◽  
Family Care ◽  
Student Loan ◽  
Defined Contribution ◽  
Income Sources ◽  
Economics Of Aging ◽  
Personal Management ◽  
Services And Supports

Abstract Even with forethought and planning, a lot can threaten economic wellbeing in the years ahead for older adults retiring at typical retirement ages. Although results for any individual cannot be predicted with certainty, some risks are quantifiable: for example, mortality/ longevity and disability risks are reasonably well-defined. Risk of dementia is not so well understood, and may be changing. Financial risk might be seen as manageable, but older adults relying on retirement income sources can be especially vulnerable to unprecedented shocks to the general economy. We consider four aspects of this dilemma. First, older adults retiring with outstanding debts may have difficulty weathering financial shocks. Our first presentation provides up-to-date information about trends in indebtedness at older ages, especially focusing on newly salient types of indebtedness: medical and student loan debt, and debt incurred to smooth finances in the recent recession. Stewardship of finances during retirement can be a challenging personal management undertaking. Our second presentation will consider how dementia can complicate this process. Protection against outliving one’s resources is more complex and costlier in the era of defined contribution retirement accounts. Our third presentation will discuss strategies to combine retirement assets, including Social Security claiming, to hedge longevity risk. Finally, needs for long-term services and supports may be met with either paid or informal (family) care, or both, but cannot be predicted with certainty. Our fourth presentation examines the long-term impacts on families due to the difficulty in insuring against this risk. Economics of Aging Interest Group Sponsored Symposium.

scholarly journals Evaluating the integration of palliative care in national health systems: an indicator rating process with EAPC task force members to measure advanced palliative care development

2021 ◽  
Vol 20 (1) ◽  
Author(s):  
Natalia Arias-Casais ◽  
Eduardo Garralda ◽  
Miguel Antonio Sánchez-Cárdenas ◽  
John Y. Rhee ◽  
Carlos Centeno
Keyword(s):  
Primary Care ◽  
Palliative Care ◽  
Long Term Care ◽  
Task Force ◽  
National Level ◽  
Structured Interviews ◽  
Term Care ◽  
Care Facilities ◽  
Rating Process

Abstract Background Palliative care (PC) development cannot only be assessed from a specialized provision perspective. Recently, PC integration into other health systems has been identified as a component of specialized development. Yet, there is a lack of indicators to assess PC integration for pediatrics, long-term care facilities, primary care, volunteering and cardiology. Aim To identify and design indicators capable of exploring national-level integration of PC into the areas mentioned above. Methods A process composed of a desk literature review, consultation and semi-structured interviews with EAPC task force members and a rating process was performed to create a list of indicators for the assessment of PC integration into pediatrics, long-term care facilities, primary care, cardiology, and volunteering. The new indicators were mapped onto the four domains of the WHO Public Health Strategy. Results The literature review identified experts with whom 11 semi-structured interviews were conducted. A total of 34 new indicators were identified for national-level monitoring of palliative care integration. Ten were for pediatrics, five for primary care, six for long-term care facilities, seven for volunteering, and six for cardiology. All indicators mapped onto the WHO domains of policy and education while only pediatrics had an indicator that mapped onto the domain of services. No indicators mapped onto the domain of use of medicines. Conclusion Meaningful contributions are being made in Europe towards the integration of PC into the explored fields. These efforts should be assessed in future regional mapping studies using indicators to deliver a more complete picture of PC development.

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