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ClimINVEST factsheet

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ClimINVEST publications

ClimINVEST Newsletter 1/2019 (March 2019) The newsletter includes recents reports, but also information on ongoing activities and collaboration between scientists and investors in science practice labs in France, the Netherlands and Norway and participation at relevant conferences. 

Read the newsletter here.  Want to subscribe to the ClimINVEST newsletter? Send us an email at miriam.dahl@cicero.oslo.no

 

REPORT: Physical climate risk: Investor needs and information gaps

Authors: Karianne de Bruin (Wageningen Environmental Research/CICERO), Romain Hubert (I4CE) , Julie Evain (I4CE), Christa Clapp (CICERO), Miriam Dahl (CICERO), Jaclyn Bolt (Wageningen Environmental Research)

While investors are paying more attention to climate change, there is a lack of granular data designed to support financial decisions. Climate science can provide improved indicators and metrics to help investors better manage physical climate risks.

This report presents the first results of the ERA4CS-JPI Climate project ClimINVEST aimed at co-designing tailored information on climate change. We provide an overview of investors’ needs and information gaps regarding the physical impacts of climate change. We identify the information sources that financial actors rely on and the challenges they face in decision-making incorporating available climate change information while taking into account diverse investor mandates and risk management approaches. The user needs identified underscore the need for collaborative efforts between researchers and the financial sector on improving climate risk information.The report presents three geographical case studies – France, the Netherlands and Norway.

Download the report here. Read a news article about the report here

 

REPORT: Getting started on physical climate risk analysis in finance - Available approaches and the way forward

Authors: Romain Hubert, Julie Evain and Morgane Nicol (I4CE)

Financial institutions are already exposed to the potential physical impacts of climate change that require immediate attention from financial institutions in order to understand how well prepared the economic actors that they finance are. Yet financial institutions still lack tailored information to analyze their exposure to these risks. They are starting to explore such analysis based on the methodologies developed by third-party service providers.

What is the state of play of existing approaches to analyze physical climate risks at financial institutions? The objective of the first ClimINVEST report prepared under Work Package 1 is to identify existing approaches of physical climate risk analysis that target financial actors. 

Download the report here. Download the Executive summary here.   

Articles and media coverage

April 2019: Article in La Tribune on how the financial sector struggles to integrate climate risk in their day-to-day activities (in French)

April 2019: Comparing existing tools for assessing physical climate risks in the finance sector: recent outputs from the ClimINVEST research project  - published by Acclimatise News (in English)

April 2019: ClimINVEST figuring in the 11th ERA4CS newsletter (in English)

February 2019: Article on how to secure values against climate risk  published at CICERO website and distributed in CICERO newsletter Klima (in Norwegian)

December 2018: ClimINVEST mentioned in the 10th ERA4CS newsletter (in English)

Past events and meetings

27-31 May 2019 - ECCA 4th European Climate Change Adaptation Conference, Lisbon, Portugal

ClimINVEST participated and held a number of presentations at the conference and at relavant side events:

Florian Gallo (Carbone4): ClimINVEST – Towards tailored climate information for the finance sector – a co-production approach between scientists and investors

Sophie Dejonckheere (CICERO): Physical climate risks and the Financial sector – synthesis of investors climate information needs

JPI Climate side event: Climate services: state of affairs, relevance for users and the way forward

9 May -  ClimINVEST Science Practice Lab:  Physical climate risk for the Dutch financial sector

Over 40 participants from the Dutch financial sector (asset managers, banks, real estate brokers, insurance companies a credit-rating agency and the Dutch Central Bank) gathered to gain insight in the physical climate risk for the financial sector, to get a better understanding about how organisations are dealing with it, and explore ways to speed up these developments. The Science Practice Lab was organised by Wageningen Environmental Research and Climate Adaptation Services (CAS).

Climate scientists and investors meeting at CICERO 29 April 2019. Photo: Miriam Stackpole Dahl/CICERO

Climate scientists and investors meeting at CICERO 29 April 2019. Photo: Miriam Stackpole Dahl, CICERO

29 April 2019 - Meeting between investors from Norway and Sweden and climate scientists from CICERO  Discussion on physical risk and improving physical climate risk indicators for financial decision making (ClimINVEST Science Practice Lab) .

 

 

 

 

 

11-13 March 2019 - Scenarios Forum 2019, Denver, USA

ClimINVEST participated and held two presentation on ClimINVEST at the Scenarios Forum Conference in Denver:

Florian Gallo (Carbone4) and Jana Sillmann (CICERO), oral presentation on “ClimINVEST – From physical risk scenarios to financial indicators – a co-production approach between climate experts and the finance sector” in the session USE OF SCENARIOS FOR ASSESSING CLIMATE-RELATED FINANCIAL RISK AND OPPORTUNITY

Anton Orlov (CICERO), Oral presentation on “Economic implications of heat-induced reductions in workability in RCP-SSP future pathways” in the session COST OF CLIMATE CHANGE IMPACT AND THE USE OF SCENARIOS

 

9 Nov. 2018 - First science-practice lab held in Paris

A key aspect of ClimINVEST is to bring climate scientists & investors together in science-practice labs to co-develop tailored tools for assessing physical climate risk & identifying climate-resilient investment opportunities. The first science-practice lab was held in Paris 9 Nov. 2018 and brought together scientists and experts from ClimINVEST French partner institutions I4CE - Institute for Climate Economics, Carbone 4 and Météo France and an initial working group of eight French financial institutions.

More science-practice labs will also be organised by partners Wageningen Environmental Research and Climate Adaptation Services in the Netherlands and by project lead CICERO Center for International Climate Research in Norway.

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28 Sept. 2018  - Consortium meeting at Oslo Science Park, Norway.   

The whole ClimINVEST project team gathered in Oslo at the premises of project lead CICERO. 

​......................................................................................................................................................................................... 31 May 2018 – EBRD/GCECA event ‘Advancing TCFD guidance on physical climate risk and opportunities’ ........................................................................................................................................................................

2 Febr. 2018 - Launch of  "Climate scenarios demystified: A climate scenario guide for investors" in London, UK

The guide was developed by CICERO in cooperation with the Advisory Board of CICERO Climate Finance - one of ClimINVEST investor groups. Climate scenarios demystified was presented at an event in London, co-hosted by ClimINVEST partners BlackRock and Norges Bank Investment Management.

Click here to read more and download "Climate scenarios demystified"

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8 Nov. 2017 - Kick-off meeting for the scientific team at Oslo Science Park, Norway

The ClimINVEST team gathered in Oslo

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30 Nov. 2017 - Networking meeting for ERA4CS projects in Brussels, Belgium

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4-6 Oct. 2017 - Workshop “Indicators for climate extremes and socio-economic impacts under different emission targets”, at JRC in Ispra, Italy.

  • See the agenda here.
  • Download the presentations by Jana Sillmann (CICERO) and Kristina Alnes (CICERO).