8th October 2024 | UK CGFI Leeds Innovation Hub, Nexus – University of Leeds, Leeds
The CGFI Leeds Innovation Hub hosted What comes next after CBES, and what role for integrated climate-nature risk analysis? on 8th October 2024, together with the Integrating Finance and Biodiversity Programme (IFB) and the Resilient Planet Finance Lab.
This event in our CGFI Connect series brought together banks, insurers, building societies, leading climate and nature scientists, and analytics businesses to explore the future of scenario analysis for climate and environmental risks. Participants discussed the climate and environmental risks that financial institutions face and how science could be better integrated into risk management.
The event builds upon CGFI’s research on lessons from the Bank of England’s Climate Biennial Exploratory Scenario exercise and on climate scenario analysis, as well as the IFB’s report on the materiality of UK nature-related financial risks.
The event included:
- Our keynote speakers and panellists from across academia and industry sharing their insights on the climate and nature-related risks facing financial institutions, and experience of how climate and nature risks are being integrated into decision-making.
- An update of the current state of the climate and the latest thinking within the climate science community on informing physical risks. A climate expert from the Bank of England will reflect on the learnings from the CBES exercise, the use of climate scenario analysis in the financial sector today, and the journey to more decision useful scenario analysis in the future.
- Takeaways from CGFI research on the CBES exercise, with insights for banks and building societies who did not take part in the exercise. Following this we will hear from the researchers that led the UK’s landmark first assessment of the materiality of nature-related financial risks to the UK economy, and from practitioners working to integrate climate and nature risks into their processes.
- A showcase of findings from our joint research with the Resilient Planet Finance Lab at the University of Oxford, the University of Leeds, and the Climate Financial Risk Forum on building resilience and mobilising finance for adaptation. The event will conclude with a thought-provoking interactive session to determine the next course of action.
Agenda
Registration 12:45 pm | Sessions 1:15 pm | Networking 5:15-6:30 pm
12:45 Registration and Refreshments
Join us for refreshments at Nexus – University of Leeds, ahead of the event.
13:15 Welcome and Presentation from UK CGFI Leeds Innovation Hub
Professor Iain Clacher
Professor of Pensions and Finance, University of Leeds | Co-lead Commercialisation and Supporting the Ecosystem, UK CGFI
13:20 Opening Address
Prof Nick Plant, Deputy Vice-Chancellor: Research & Innovation, University of Leeds
13:25 Opportunities and Limitations of Climate Science for Risk Assessment
Professor Jason Lowe OBE
Chair in Interdisciplinary Climate Research, Priestley Centre for Climate Futures – University of Leeds | Head of Climate Services, Met Office
13:45 From the CBES to Decision Useful Scenario Analysis
Dr David Wilkinson
Associate Fellow, UK CGFI | Climate Lead Supervisory Risk Specialists Directorate, Bank of England
14:15 Panel - CBES Report: What We Learnt and What Comes Next
- Prof Iain Clacher, Professor of Pensions and Finance, Leeds University Business School | Co-Lead Commercialisation and Supporting the Ecosystem, UK CGFI (Chair)
- Teju Akande, Change Manager, Border to Coast Pensions Partnership
- Doug Baird, Head of Climate Stress Testing and Pension Risk, NatWest Group
- Dr Hannah Bloomfield, Newcastle Academic Track Fellow, Newcastle University
- Andrew Copland, Senior Finance Manager, Nationwide Building Society
14:55 Refreshments
15:45 Assessing the Materiality of Nature-Related Financial Risks for the UK
Dr Jimena Alvarez
Lead, Greening Finance for Nature | Global Finance & Economy Group – Environmental Change Institute, University of Oxford
16:05 Nature Related Insurance Use Case
Amir Sethu
Head of Sustainability and ESG, MS Amlin
16:15 Panel - Advancing Nature-Climate Risk Analytics for Financial Decision-Making and Investing in Nature
- Dr Jimena Alvarez, Lead, Greening Finance for Nature | Global Finance & Economy Group – Environmental Change Institute, University of Oxford (chair)
- Jennifer Burrett, Director in Sustainability Team, Lloyds Banking Group
- Dr Nicola Ranger, Co-Director at IFB | Director at Resilient Plant Data Hub | University of Oxford
- Amir Sethu, Head of Sustainability and ESG, MS Amlin
- Sandy Trust, IFOA Council – Sustainability Lead | Financial Resilience Nature Workstream – Chair, CFRF
16:55 Natural Environment Research Council (NERC) - UKRI
Dr Shewly Choudhury
Associate Director Interdisciplinary Programmes and Capability, NERC
17:00 Looking Forward - Drawing Conclusions
- Prof Iain Clacher
Professor of Pensions and Finance, Leeds University Business School | Co-Lead, Commercialisation and Supporting the Ecosystem, UK CGFI - Prof Jason Lowe OBE
Chair in Interdisciplinary Climate Research, Priestley Centre for Climate Futures – University of Leeds | Head of Climate Services, Met Office - Dr Nicola Ranger
Resilient Planet Finance Lab | Co-Director, Integrating Finance and Biodiversity Programme
17:15 Networking Reception
Join us for drinks and canapes – kindly sponsored by Nexus – University of Leeds
18:30 Close
Confirmed speakers and panellists
Teju Akande
Climate Change Manager, Border to Coast Pensions Partnership
Dr Jimena Alvarez
Lead, Greening Finance for Nature | Global Finance & Economy Group – Environmental Change Institute, University of Oxford
Doug Baird
Head of Climate Stress Testing and Pension Risk, NatWest Group
Dr Hannah Bloomfield
Newcastle Academic Track Fellow, Newcastle University
Jennifer Burrett
Director in Sustainability Team, Lloyds Banking Group
Dr Shewly Choudhury
Associate Director Interdisciplinary Programmes & Capability, NERC
Prof Iain Clacher
Professor of Pensions and Finance, Leeds University Business School | Co-Lead, Commercialisation and Supporting the Ecosystem, UK CGFI
Andrew Copland
Senior Finance Manager, Nationwide Building Society
Prof Jason Lowe OBE
Chair in Interdisciplinary Climate Research, Priestley Centre for Climate Futures - University of Leeds | Head of Climate Services, Met Office
Prof Nick Plant
Deputy Vice-Chancellor: Research and Innovation, University of Leeds
Dr Nicola Ranger
Director, Resilient Planet Finance Lab | Co-Director, UK Integrating Finance and Biodiversity | University of Oxford
Amir Sethu
Head of Sustainability and ESG, MS Amlin
Sandy Trust
IFOA Council - Sustainability Lead | Financial Resilience Nature Workstream – Chair, CFRF
Dr David Wilkinson
Associate Fellow, UK CGFI | Climate Lead Supervisory Risk Specialists Directorate, Bank of England
Who should attend?
We welcome attendees with a professional interest in the topic, including those from:
- Banks, building societies, insurers, and other financial institutions, and financial services businesses.
- Climate, nature, and environmental scientists from academia and not-for-profit research centres.
- Climate, nature, and environmental analytics businesses.
- Policy and the public sector, including local, regional, and central government and agencies representatives.
Location
Event partners / supported by
