What We Learned About Climate Risk in 2022

Hear from Jo Paisley and Maxine Nelson of the GARP Risk Institute as they look back on key learnings from the latest season of the Climate Risk Podcast. As we head into 2023, Maxine and Jo once again join forces to review the latest season of Climate Risk Podcasts, gleaning key insights from each guest and discussing ongoing trends in climate risk management. From scientists to CEOs, asset owners to archaeologists, we’ve upheld our promise to showcase a variety of different perspectives on climate risk and sustainability. This episode re-examines the rich knowledge that has been shared on the Climate Risk Podcast over the last 12 months, creating a narrative of climate risk wisdom to guide our listeners through this fast-moving field. In today’s episode, we will discuss: What we’ve learnt about risk, vulnerability, and exposure; How well the financial sector is supporting the transition to a net-zero world; And what advice our guests offered to risk and finance professionals. Links from today’s discussion: Andy Smith and Matt Jones - 30 Years of Catastrophe Modelling: Lessons for Risk Professionals Julie Pullen - The Oceans & Climate Explained (and Why it Matters to Finance) Kevin Dooley - Supply Chains: Why Sustainability is the Best Form of Risk Management David Victor and Danny Cullenward - How Politics Shapes Climate Policy: Insights for Risk Professionals Emily Shuckburgh - Data, AI, and Innovation: Insights from the Frontiers of Climate Science Brian Fagan - 30,000 Years in 30 Minutes: Climate Risk from an Archaeologist’s Perspective Bruce Usher - Investing in the Era of Climate Change Sean Kidney - The Green Bond Market Explained (And Why Investors Do Need to Worry About Climate Risk) Alan Smith - Culture and Capability: An Asset Owner’s Guide to Net Zero Eila Kreivi - EU Taxonomy for Sustainable Finance: Everything You Wanted to Know, But Were Too Afraid to Ask Mark Campanale - Achieving Net-Zero: Reframing Climate Change as a Supply Side Issue William McDonnell - The "Net" of "Net-Zero": Making Voluntary Carbon Markets Work and Christmas Climate Book Club Special Speaker’s Bio(s) Jo Paisley, President, GARP Risk Institute Jo has worked on a variety of risk areas at GRI, including stress testing, operational resilience, model risk management and climate risk. Her career prior to joining GARP spanned public and private sectors, including working as the Director of the Supervisory Risk Specialist Division within the Prudential Regulation Authority and as Global Head of Stress Testing at HSBC. Maxine Nelson, Senior Vice President, GARP Risk Institute Maxine currently focuses on climate risk management. Previous roles have included operational risk modelling at NAB, leading KMPG London’s credit risk team, senior consultant at Oliver Wyman, responsibility for counterparty credit risk at the UK Financial Services Authority, and Global Head of Wholesale Risk Analytics and Head of Capital Planning at HSBC.