Climate Risk Podcast GARP

Hear from George Marshall, Author of “Don’t Even Think About It: Why Our Brains Are Wired To Ignore Climate Change,” as we dive into the psychology of climate change.
If you follow this podcast, you probably already have a good understanding of the nature of climate change, the risks it poses and why we need to act decisively and with urgency. But many people don’t listen to the podcast, and even if they did, they might think it was a lot of nonsense. Depending on people’s worldview, values, and socio-cultural background, the same message can be interpreted in many ways. That’s why in today’s episode, we’re focusing on the psychology of climate change. We’ll be exploring questions such as:
·       What is it about the human brain that makes it so hard for us to accept the reality of climate change and take steps to address it?
·       How is it possible that, when presented with overwhelming evidence of climate change, even the evidence of our own eyes, we can still choose to ignore it?
·       And given our biases and shortcomings, how can we still find effective ways to communicate the dangers of climate change to audiences that are typically closed off to receiving those messages?
To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr
For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate
If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com


Speaker’s Bio George Marshall, Author and Climate Change Communication Expert
George is a consultant in the public communication of climate change, and the psychological obstacles to attitude and behaviour change. His key interest is the design of narratives that can build a consensus for climate action across the whole of society. His insights draw on hundreds of focus groups and structured interviews listening to people expressing their hopes, fears and doubts about climate change. 
His book “Don’t Even Think About It: Why Our Brains Are Wired to Ignore Climate Change”, explores the social and psychological obstacles to climate action. It is currently on its seventh printing and was listed by Esquire as one of the ‘15 essential books on climate change.’

Hear from Simon Sharpe, Director of Economics at the UNFCCC Climate Champions, as we explore three key problems that are impeding the transition to net-zero and how to address them.
We know that reaching net zero emissions quickly enough to avoid the worst impacts of climate change will be very challenging. But are we making it even more difficult than it needs to be?
Today’s guest thinks so, particularly when it comes to climate science, economics, and climate diplomacy. That’s why in today’s episode, we’ll be looking at how we could make all three work more effectively.  We’ll explore:
·       How climate science must change in order to generate meaningful action within our political institutions;
·       How economists became overly fixated on carbon pricing, while missing other policies that would be even more impactful in accelerating the transition to net zero;
·       And how the current model of climate diplomacy could be altered to allow for faster net zero negotiations.
To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr
For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate
If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com
 
Speaker’s Bio Simon Sharpe, Director of Economics, UNFCCC Climate Champions
Simon took up his current role in early 2022, having previously held several senior positions in the UK government, including as Deputy Director of the COP26 Unit, and as Head of Climate Change Strategy for both the Foreign, Commonwealth & Development Office, and the Department for Business, Energy and Industrial Strategy.
In 2013-15, he created an international climate change risk assessment project, working with experts from the UK, USA, China, India, and other countries. In addition to influencing the understanding and assessment of climate change risk in its partner countries, its findings were extensively cited by the Scientific Advisory Board of the UN Secretary General. It also inspired new thinking in the academic community, with a lead author of the Intergovernmental Panel on Climate Change using it to argue that ‘climate science needs to take risk assessment much more seriously’. More recently, he has worked with partners in the UK, China, India and Brazil to create the world’s first government-backed project to apply complexity economics to climate change. His paper on economic tipping points, ‘Upward-scaling tipping cascades to meet climate goals: plausible grounds for hope’, was the most downloaded paper in Climate Policy journal in 2021.
Simon has published influential reports and created ground-breaking international projects in climate change risk assessment, economics, and diplomacy. His recent book, “Five Times Faster,”  draws from Simon’s ten years’ experience at the forefront of climate change policy and diplomacy.

Hear from Dr. Jakob Thomae, Project Director for the Inevitable Policy Response, as we discuss their latest forecast and what it means for the transition to net-zero.
Scenario analysis is the natural tool for anyone wanting to understand how climate-related risks might evolve over coming decades. The vast majority of climate scenarios, regardless of who produced them or what level of warming they predict, tend to report similar levels of physical risk over the next couple of decades or so. However, predictions about transition risk tend to be quite different between scenarios.
This episode focuses in on the transition, and in particular the extraordinary work being done by the Inevitable Policy Response (IPR) to figure out the most likely course of the transition to net zero. We’ll explore:
·         The IPR’s surprisingly optimistic forecast, and they believe the world might look like by the end of the century;
·         The methodology behind their forecast, and how it differs from the scenarios produced by other groups; and
·         What this forecast means for risk and finance professionals.

To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr
For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate
If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com
Links from today’s discussion:
The Inevitable Policy Response: https://ipr.transitionmonitor.com/ Theia Finance Labs (formerly known as the 2° Investing Initiative): https://theiafinance.org/ Jakob’s first book, ‘The Kill Score: On the Trail of Our Ecological and Social Footprint’: https://rb.gy/ydnxvu Paris Agreement Capital Transition Assessment (PACTA): https://pacta.rmi.org/ The International Energy Agency (IEA): https://www.iea.org/ How Bad are Bananas? by Mike Berners-Lee: https://howbadarebananas.com/ Jakob’s second book, ‘The Little Book of Big Risks: From Atomic Bombs to a Zombie Apocalypse’: https://rb.gy/8lk1no  
Speaker’s Bio Dr. Jakob Thomae, Project Director, Inevitable Policy Response
Jakob Thomae is one of the leading global experts on sustainable finance and long-term risks. In June 2023, Jakob was appointed Project Director for the Inevitable Policy Response (IPR), a climate transition forecasting consortium commissioned by the Principles for Responsible Investment. The IPR helps investors navigate the risks and opportunities arising from climate policy acceleration, volatility and transition.
Jakob is the co-founder of Theia Finance Labs (formerly known as the 2° Investing Initiative) where he currently serves as Research Director. Jakob is also Professor in Practice at SOAS, University of London, where he teaches a Green Finance course. His recent book "The Kill Score” explores the impact of sustainability on human lives.
Jakob has served as advisor to central banks around the world including the Japanese Financial Services Agency, the Brazilian Central Bank, the Bank of Thailand, the Bank of England, the Bundesbank, the Dutch Central Bank, and EIOPA. He holds a PhD in Finance from the Conservatoire National des Arts et Metiers.

Hear from Thomas Vaassen, Co-Founder and CEO of Meridia, to learn how the EU Deforestation Directive is changing the nature of data required across supply chains.
Supply chains are becoming an ever-greater focus for risk professionals. Firms increasingly want to measure the carbon footprint of their suppliers, or better understand their resilience, in the face of increasingly severe weather shocks. We are also seeing legislation driving greater transparency, which hinges on our ability to get accurate data.
Although often taken for granted in the developed world, having good quality data on property rights is not a given in many parts of the world and this, in turn, makes analysis of complex and often remote components of supply chains very challenging.
That’s why today’s episode will focus on:
How legislation, such as the European Deforestation regulation, is changing the data landscape for firms; The practical challenges for obtaining good quality property rights data in remote locations; and
How the world of data might change over coming years, with advances in technology and data collection.  To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr
For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate
If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com



Speaker’s bio Thomas Vaassen, Co-Founder and CEO of Meridia
Thomas is currently the CEO of Meridia, a data partner that focuses on traceability and transparency, living income, and regenerative agriculture. Prior to this role, he was the Founder and CTO of Meridia, where they provided affordable land documentation to smallholder farmers. Thomas also served as the Program Director of the Investment Ready Program NL, where he helped green ventures prepare for investment and growth. Thomas has a background in managing social and sustainable initiatives, as Managing Director of Impact Hub Amsterdam, and the Chairman of the Board for Impact Hub Association. Additionally, he co-founded Blik-Opener, an organization that offers career coaching and development programs. Thomas also has experience in consulting, as a Founding Partner of Realize!, a consulting company that specializes in organizing for fast growth.

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 2024, Jo and Maxine look back at the past year of Climate Risk Podcasts, reviewing key learnings from our guests and discussing ongoing trends in climate risk management.
From academics to ambassadors, CEOs to entrepreneurs, 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 and nature risk wisdom to guide our listeners through this fast-moving field.
So, today’s episode will explore:
What we’ve learnt about the physical risks associated with climate change and nature loss; The key risks that arise in the transition to a net-zero world; and How financial firms are managing these risks. To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr
For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center:  https://www.garp.org/sustainability-climate
Links to featured episodes:
David Schimel and Pooja Khosla - Bridging the Gap between Climate Science and Risk Management
Dr. Erica Thompson - The Power and Pitfalls of Models in Climate Risk Management
Rohan Hamden - Why Extreme Climate Physical Risks Are Closer Than You Might Think
Mike Azlen - The Future of the Carbon Markets Explained for Risk Professionals
Dr. Nicola Ranger - Balancing Mitigation and Adaptation: Insights for the Financial Sector
Simon Zadek - TNFD and Beyond: An Introduction to Nature in Finance
Professor Jo Handelsman - Soil: An Invisible Crisis and Massive Climate Opportunity
Nigel Topping - The COP28 Survival Guide: How it Works and What to Expect
Jane Stevensen - License to Drill: What New Oil & Gas Extraction Means for the Energy Transition
Nicky Dee - From Startup to Sustainability: Innovating For The Climate Emergency
Natalia Dorfman - Powerful Risk Management: Insurance Foundations for High-Integrity Carbon Markets
Carys Taylor - How Film and Television Are Adapting to Climate Change
Chris Howland and Lars Popken - Embedding Climate Within Risk Management: A Practitioner’s Guide
Ron Dembo - Dealing with Uncertainty in Scenario Analysis: Stochastic vs. Deterministic Approaches
 Also discussed in this episode:
GARP Whitepaper - Biodiversity Loss: An Introduction for Risk Professionals 
 
Today’s Speakers Jo Paisley, President, GARP Risk Institute
Maxine Nelson, Ph.D, Senior Vice President, GARP Risk Institute

Hear from Dr. Erica Thompson, as we examine the modelling ecosystem and when we need to escape it to make real-world decisions.
Climate science – like many areas of our lives, such as economics or public health – is based upon models. These models are often used to justify certain courses of action, such as investments in climate mitigation or adaptation, or even lock downs during the pandemic.
But what makes a ‘good model’?  Is it purely how well it forecasts?  Or are there other aspects that we need to consider, such as reliability, complexity, and how well it deals with uncertainty? And who gets to decide how good a model is?
In this episode, we’ll take a closer look at these questions and explore some of the nuances of models, including:
·       How to judge how good a model is,
·       The vital importance of understanding the values which underpin models
·       And how models have the power to shape the very future which they forecast.
To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr
For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate
If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com


Links from today’s discussion:
Praise for Escape From Model Land: https://www.ericathompson.co.uk/books/ IPCC Working Group III 2022 Mitigation of Climate Change report: https://www.ipcc.ch/report/ar6/wg3/downloads/report/IPCC_AR6_WGIII_SummaryForPolicymakers.pdf Yale’s William Nordhaus wins 2018 Nobel Prize in Economics: https://news.yale.edu/2018/10/08/yales-william-nordhaus-wins-2018-nobel-prize-economic-sciences  
Speaker’s Bio Erica Thompson, Associate Professor of Modelling for Decision Making at UCL’s Department of Science, Technology, Engineering and Public Policy
Erica’s book, Escape from Model Land: How Mathematical Models Can Lead Us Astray and What We Can Do About It, was published in December 2022 and was shortlisted for Best Maths Book of 2022 by Chaulkdust Magazine, a specialist magazine for mathematicians.
Erica moved into her current role in April 2023, where she investigates the appropriate use of mathematical modelling to support real-world decisions, from mathematical and statistical questions about methodologies of inference from models, to psycho-social questions about the formation of confidence and the role of expert judgement.
Erica is also a Fellow of the London Mathematical Laboratory, where she leads the research programme on Inference from Models, and is a Visiting Senior Fellow at the LSE Data Science Institute. Erica previously held a series of roles at the LSE’s Centre for the Analysis of Time Series, initially as a Senior Policy Fellow, and subsequently as Co-Director and Acting Director.
Erica holds a BA in Experimental and Theoretical Physics and a Master of Mathematics degree from Cambridge University. She completed her PhD in Physics at Imperial College London.