Agenda

Agenda

Climate Change Risk agenda

VIRTUAL, ALL TIMES IN BST

14:0015:00

Climate change risk management
2:00pm BST/ 9:00am EDT

14:00 - 15:00

  • Overview of climate change risk
    • What does the science say?
  • Different reactions
    • Society
    • Corporate businesses
    • Investment
  • Exposure to climate-related risks
    • Physical risks
    • Transition risks
  • Treating climate change as a financial risk
  • Risks and opportunities of climate change risk

15:0015:15

Break
3:00pm BST/10:00am EDT

15:00 - 15:15

15:1516:15

Climate change risk: meeting emerging regulatory expectations
3:15pm BST/ 10:15am EDT

15:15 - 16:15

  • Background to regulatory initiatives – Paris Agreement and other frameworks
  • Overview on current regulatory standards (e.g. PRA, ECB, HKMA, etc)
  • Expectations for risk management
  • Role of NGFS and standard setters
  • Challenges and opportunities
Jusdon Berkey

Managing director, group head of sustainability regulatory strategy

UBS

14:0015:00

Disclosure, reporting and governance frameworks
2:00pm BST/ 9:00am EDT

14:00 - 15:00

  • Rising pressure for financial disclosure – why?
  • Strong ownership and oversight of the climate change risk management practices
  • Understanding the guiding principles TCFD
    • TCFD recommendations
  • Developing a comprehensive TCFD programme
  • Implementing recommendations and proposals:
    • Motivation
    • Practicality
    • Legality
Simon Connell

Head of sustainability strategy

Standard Chartered

Simon is Head of Sustainability Strategy at Standard Chartered. In this role he leads the Bank’s external engagement and co-ordinates internal action on sustainability across the organisation with a specific focus on climate change and human rights.

Simon has over a decade’s experience in helping banks understand and manage environmental and social risks and opportunities presented by their client portfolios, holds a BSc in Politics with Economics and is a qualified Corporate Treasurer and Management Accountant. He is Chair of the University of Cambridge’s Banking Environment Initiative, and a member of the European Banking Federation’s ESG Taskforce.

15:0015:15

Break
3:00pm BST/10:00am EDT

15:00 - 15:15

15:1516:15

ESG
3:15pm BST/ 10:15am EDT

15:15 - 16:15

  • The E, the S, and the G- defining the concept
  • Approaching climate risk from an E,S and G standpoint
  • Understanding the main aims of ESG
  • Distinguishing the risks and opportunities associated
  • Current trends in the ESG market
Gerhard Mulder

CEO & co-founder

Climate Risk Services

Gerhard’s career in climate finance spanned both the public and private sector, having worked in consulting in Washington DC, environmental markets on Wall Street, and for the Dutch government (Netherlands Enterprise Agency), Dutch banks (ABN AMRO and Rabobank) and a leading non-profit (IUCN) in the Netherlands.

He co-founded Climate Risk Services together with Stephanie Gnissios to advise public and private sector organisations on climate risk after he completed his MBA at Oxford in 2018. He studied environmental economics and international affairs at Columbia University in New York, and Public Policy at the University of Amsterdam. 

14:0015:00

Data management for climate change risk
2:00pm BST/ 9:00am EDT

14:00 - 15:00

  • Types of data required - financial vs non-financial data
  • Adjusting data collection processes to effectively evaluate climate change risks
  • Do you have enough internal data to include climate-related issues into your framework?
  • Leveraging additional data sources
  • Current industry challenges
Marek Piskorz

Chief operating & risk science office

Lloyds Banking

15:0015:15

Break
3:00pm BST/10:00am EDT

15:00 - 15:15

15:1516:15

Climate scenario analysis and stress testing
3:15pm BST/ 10:15am EDT

15:15 - 16:15

  • What is the difference between ‘normal’ stress testing and climate change risk stress testing?
    • the example of the Bank of England BES stress test
  • Overview of scenario analysis in the context of climate change risk
  • Benefits and challenges of conducting scenario analysis
  • Scenario analysis examples
Peter Plochan

EMEA principal risk specialist

SAS

FRM certified Risk Management specialist with strong analytical mindset and finance background. By combining my 10+ years of Risk Management experience with SAS Analytical and Risk & Finance Solutions I am uniquely positioned to provide the leading financial institutions with valuable advice for addressing their Risk & Finance management challenges.

My main Finance & Risk Management competency areas include:
- Finance and Risk Management technology;
- Risk regulations ( Basels /CRDs, ICAAP, ILAAP, Solvency II, ORSA);
- Accounting standards: IFRS 9 ;
- Enterprise Risk Management;
- Model Risk Management;
- Financial Risk Management and Asset Liability Management;
- Risk data / analytics;
- Planning, Forecasting, Stress Testing, Scenario analysis and Capital management.
- Risk and Finance integration

I am passionate about helping companies to improve their existing risk and finance processes, providing advice, educating and driving business development in the areas above.

14:0015:00

Climate change risk models and methodologies
2:00pm BST/ 9:00am EDT

14:00 - 15:00

  • How do you model climate change risk?
  • Utilising and assessing data
  • Understanding modelling methodologies
    • Temperature alignment
    • Pacta methodology
    • Climate change applied to credit risk
  • The issue of standardisation
  • Challenges in modelling climate change risk
James Belmont

Director

Baringa Partners

James is an accomplished financial services risk and treasury practitioner with over 20 years’ experience of building tools and processes, and using them to motivate balance sheet and risk profile changes.  He led Risk Analytics, Credit Portfolio Risk Management and Liquidity Modelling teams in a major UK bank, before joining Baringa Partners to lead their Risk Advisory practice.  James now works with a wide range of FS clients to support them in understanding and delivering strategic change to their risk management capabilities.  Bringing together Baringa’s Energy and FS capabilities, James has increasingly worked with UK banks and insurers to support them in building climate change risk management capabilities.

Nick Stewart

Partner

Baringa Partners

15:0015:15

Break
3:00pm BST/10:00am EDT

15:00 - 15:15

15:1516:15

Incorporating climate change risk strategies
3:15pm BST/ 10:15am EDT

15:15 - 16:15

  • Embedding climate change risk management in enterprise risk management (ERM) frameworks
  • Adopting key risk indicators to monitor climate risks
  • Using self-assessments
    • Identify how climate change risk manifests in existing financial/non-financial risk types
    • What is the position of portfolios currently?
  • Setting supervisory expectations
  • Looking to the future- what will be the impact of climate change risk in the short, medium and long term?
Russ Bowdrey

Senior ALM Manager and Climate Change Physical Risk Workstream Lead

UK Insurance Investment Actuary

Russ Bowdrey is a UK-qualified actuary and currently oversees and provides advice on strategic asset allocation for several business units and assists them with portfolio design and implementation, including evaluation of alternative investment opportunities. Alongside that Russ contributes regularly to ALCo and Board papers on capital allocation topics. Russ led the physical risk wokstream of a major multinational insurer climate change disclosures programme. Much of his time is now spent focusing on the impact of climate change on portfolios, and the wider businesses and works closely with experts across the business on integrating sustainability into the way the company invests.

Prior to this, Russ had taken a round-about route to an actuarial career via the Royal Air Force and a stint in aerospace engineering. He worked in both life and pensions teams at Ernst and Young, ran the investment risk and hedging programme at enhanced-annuity provider Just Retirement, before joining his current company in the Group ALM team. He holds a MSc in aerospace engineering from the Cranfield University – Royal Military College of Science.

Russ is a regular speaker at industry and professional events and recently chaired the organising committee of the IFoA Momentum conference for newly qualified actuaries.