In his address to the IIEA, Kevin McGeeney analyses the risks posed by climate change to the financial system. Mr McGeeney examines the recent developments in the renewable energy markets and discusses the emerging trend of mandatory climate-related financial risk disclosures, as proposed by the European Commission and the Financial Stability Board.
In his keynote address, Neil Kermode demonstrates how the alchemy of turning seawater into electricity has finally been proven to be both predictable and achievable. Mr Kermode provides a personal perspective on the potential of marine energy to tackle climate issues and develop a new economy for the 21st century.
The EU is committed to becoming a global leader in green finance and taking steps to protect the financial system from climate risk. It is determined to export its regulatory approach across the globe but faces challenges and limitations in this pursuit. The European Commission established a Technical Expert Group on Sustainable Finance in 2018 to improve the flow of information among financial market actors. While, overall, the Expert Group has made a promising start in its approach to addressing climate risks and promoting green finance, its approach has been criticized for lacking nuance, particularly when it comes to its binary classification of assets and sectors of the economy as either ‘green’ or ‘brown’. These critiques are important to consider if the EU is to successfully export its approach globally.
In his keynote address, President Houngbo outlines how a 21st century approach to agriculture is central to creating a better world and argues that with the right investments, small-scale producers can transform the rural communities where they live, ensuring food security, boosting economic growth and creating jobs, particularly for young people.