Accelerating the Transition to a Sustainable Clean Energy Economy and Addressing the Financial Risks of Climate Change

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The chapter explores Forebright Bank's focus on sustainable finance and their efforts to speed up the transition towards a clean energy economy. It also discusses the financial risks associated with climate change for the insurance sector and the need for nature-related financial disclosures.

In today's episode of the ESG Insider podcast, we're exploring several of the big themes we heard about at Climate Week NYC that will inform conversations at COP28, the UN’s climate conference taking place in Dubai later this year.

We’ll hear how Climate Week was marked by a focus on implementing concrete solutions at speed. We'll explore the challenges around data availability and disclosure. And we'll hear how the physical impacts of climate change are affecting the insurance sector.

In the episode we speak to:

-Gerbrand Haverkamp, Executive Director at the World Benchmarking Alliance, a nonprofit that assesses companies on their contribution to the UN’s Sustainable Development Goals (SDGs).

-Carine Smith Ihenacho, Chief Governance and Compliance Officer at Norges Bank Investment Management, which manages the Norwegian Government Pension Fund Global, and has about $1.4 trillion in assets under management.

-Sonia Khanna, Managing Director of Sustainable Finance at Maryland-based Forbright Bank, which is focused on accelerating the transition to a sustainable, clean energy economy.

-Charlie Sidoti, Executive Director of Innsure, a nonprofit focused on closing the protection gap that exists between economic losses tied to climate change and insured losses.

Register here to attend the ESG Insider Live event taking place on Oct. 19, 2024, in New York City: https://events.spglobal.com/event/2f756e86-5dd7-40d1-b729-cc859e40be5f/register

Read about the 5 big ideas from Climate Week NYC that S&P Global Sustainable1 is bringing to COP28 here: https://www.spglobal.com/esg/insights/featured/special-editorial/5-big-ideas-from-climate-week-nyc-that-samp-p-global-sustainable1-is-bringing-to-cop28

Listen to our episode featuring Dr. Sarah Kapnick, Chief Scientist for National Oceanic and Atmospheric Administration (NOAA) here: https://www.spglobal.com/esg/podcasts/how-noaa-is-working-to-turn-climate-science-into-action

This piece was published by S&P Global Sustainable1, a part of S&P Global.

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