Changing Perspectives: Addressing Climate-related Risks in the Financial Sector

22 October 2020 @ 8 pm (+8 GMT)

Climate change is increasingly recognised as an important source of risk for financial institutions and investors. Climate-related risks arise through two primary channels: physical risks and transition risk. Physical risks arise from climate and weather-related events, which can potentially result in large financial losses and impaired asset values. The transition risk stems from the low-carbon economy transformation process, the risk of losses associated with government policies such as the implementation of carbon pricing, border transformation taxes or climate litigation. Policymakers, central banks, regulators of the financial sector and supervisors are reinforcing their response to improve the resilience of the financial sector to climate threats and to mobilise green finance resources. They are gradually encouraging the disclosure of climate risks and have taken measures in the financial system to identify, analyse and track climate risks.

“Changing Perspectives: Addressing Climate-related Risks in the Financial Sector”

The objectives of this webinar are to share with the participants:

  • the recent assessment of the impacts of climate change on financial systems in emerging markets and developing economies
  • the global trends and supervisory actions taken to manage these risks through stress testing, risk management, governance and disclosure guidance, and integrating climate risks in supervision
  • international initiatives to support all these efforts at national level, including NGFS, FSB TCFD, World Bank/IMF, and
  • an introduction into assessing transition and physical risks through scenario analysis and stress testing.

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Speakers’ Profiles

Martijn Regelink, Senior Financial Sector Specialist, World Bank

Martijn Regelink is a senior financial sector specialist in the World Bank Group’s Finance, Competitiveness, and Innovation Global Practice. Being part of its financial stability unit, he leads an agenda on greening financial systems, which focusses on climate risk assessments for financial sectors and support for client countries to integrate climate risks and opportunities in regulations and policies. Before joining the Bank, Martijn worked as a strategy advisor to the board of the Dutch central bank on future risks in the financial sector which could jeopardize the stability of financial intuitions. He was DNB’s program lead on the topic of climate risks for the financial sector. In this role he led a team of experts who aimed to identify, assess and mitigate climate related financial risks stemming from physical (storms, flooding etc.) and transition (e.g. climate policy) sources. Moreover, he represented the Netherlands in the G20 Green Finance Study Group and was involved in technical work for the EU’s High-Level Expert Group on Sustainable Finance. Before joining DNB, Martijn was a strategy advisor at Deloitte Consulting focusing on the financial sector.
Henk Jan Reinders, Financial Sector Specialist, World Bank

Henk Jan Reinders is an economist and financial sector specialist at the World Bank and pursues his PhD at the Erasmus University Rotterdam, where he is also a fellow at the Erasmus Platform for Sustainable Value Creation. His research revolves around the linkages between climate change and the financial sector, with a focus on stress testing. He is one of the lead authors of the Dutch Central Bank (DNB) its report on climate-related financial risks (Waterproof). Henk Jan holds an MSc (cum laude) in International Economics from the University of Amsterdam and an MSc in Management of Technology from Delft University and Carnegie Mellon. Before, he has worked at the Dutch Ministry of Foreign Affairs and the European Commission.

Mohamed Rozani Osman, Senior Financial Sector Specialist, World Bank

Mohamed Rozani Osman is a Senior Financial Sector Specialist with the Finance, Competitiveness and Innovation Global Practice of the World Bank in Kuala Lumpur, an assignment he started in June 2016. He is currently working on several areas including sustainable finance, Islamic finance, disaster risk finance, capital markets, financial sector development and financial stability monitoring in the East Asia Pacific region. He has 18 years of investment management experience, including 10 years as Head of Treasury and Liquidity Management at Khazanah Nasional Berhad, the sovereign investment fund of Malaysia.

Prior to that, he headed the fixed income teams at Mayban Investment Management and KLCS Asset Management. While there, he managed several mutual funds and discretionary portfolios. He has also managed a leveraged multi-asset portfolio focused on the US technology and financial sectors. Before entering the financial industry, he worked in the oil and gas industry. He has an MBA from Cornell University and a Bachelor of Science in Electrical Engineering from the University of Virginia.