Climate Risk Podcast

GARP

Hello and welcome to GARP's Climate Risk Podcast series, where we will be investigating how climate change is impacting the world of business and finance and what this means for risk management. Through the course of this series we will be bringing you insights from those working at the cutting edge of climate change. We will be joined by regulators, business leaders and risk practitioners who will help us build up a holistic view of the risks and opportunities that climate change poses and explore how this might affect you in your day to day work.

  1. 2d ago

    Unlocking Transition Finance: Policy, Credibility and the Flow of Capital

    Vanessa Havard-Williams OBE explores how the UK is building a credible transition finance market, from stronger policy and transition planning to public finance, insurance and investable projects.  Financing the transition to a low carbon economy is often presented as a question of capital: how much money is needed, where it should come from, and which technologies or projects should receive it. But the reality is more complicated. Finance cannot drive the transition in isolation. Companies will only invest at scale where the economics make sense, investors still need an appropriate return, and government policy plays a crucial role in shaping whether transition opportunities are commercially viable. There are also difficult questions around what credible transition finance actually looks like. How should financial institutions support high emitting companies as they decarbonise? How can they distinguish genuine transition from greenwashing? And how can new technologies and first of a kind projects overcome the barriers that often prevent private capital from flowing? That's why this episode explores: What transition finance means, and why clear definitions and credible transition plans matter; Why effective real economy policy is essential if capital is to flow at the scale required; And how government, financial institutions, public finance and insurance can work together to remove barriers and support a whole economy transition.  ---------------- Links from this Episode: Scaling Transition Finance: Findings of the Transition Finance Market Review: https://www.theglobalcity.uk/insights/scaling-transition-finance From Planetary Hazard to Financial Stability: Disentangling Climate Risk and Institutional Responsibility (Lisa Sachs Report): https://ccsi.columbia.edu/from-planetary-hazard-to-financial-stability-disentangling-climate-risk-and-institutional-responsibility/ Investor Climate Action: What Finance Can and Can't Achieve (Tom Gosling Interview): https://www.garp.org/podcast/investor-climate-action-what-finance-can-and-cant-achieve  ---------------- 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 Centre: 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 ------------------ Today's Speaker Vanessa Havard-Williams OBE is the Senior Independent Director of UK Export Finance and Chair of the UK Export Guarantee Advisory Council. She previously led Linklaters' global environmental and climate change practice, founded the firm's ESG practice, and co-led its Risk and Resilience and Crisis Management teams. In 2024, Vanessa led the UK Government's Transition Finance Market Review. She now plays a leading role in the development of the UK's transition finance market, including as a member of the Transition Finance Council steering group and Chair of its working group on credibility and integrity.

  2. Jul 9

    Fire and Flood: Lessons from Britain's New World of Extremes

    Hear from celebrated journalist David Shukman on why climate change is no longer a future risk, how extreme weather is exposing weaknesses in the systems we rely on, and why human stories are often the most powerful way to communicate climate risk.   Climate risk is often discussed in terms of future scenarios, long-term projections, and abstract global targets. But for many people, the impacts are already here: in homes lost to wildfire, hospitals disrupted by extreme heat, transport systems buckling under rising temperatures, and supply chains exposed to droughts and other weather extremes.  That shift from future risk to present reality raises difficult questions for governments, businesses, and risk professionals. Are institutions prepared for the climate we now live in? Who is responsible when critical systems fail? And how do we communicate these risks in a way that cuts through technical jargon and reaches people at a human level?  That's why today's episode will explore:  How extreme weather is already testing the systems we rely on;  Why recent climate events, such as heatwaves and wildfires, reveal critical gaps in preparedness and accountability;  And why human stories about the impacts of climate change might be the most powerful way to communicate the risks and galvanize action.     ----------------  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 Centre: 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   ------------------  Today's Speaker David Shukman is a celebrated journalist, author, and broadcaster who spent nearly four decades at the BBC, including nine years as its first Science Editor. During his career, he reported from around the world on major global issues, including conflict, science, environmental change, and climate risk.  Since leaving the BBC in 2021, David has worked as an independent writer, speaker, and commentator on climate change, biodiversity loss, and sustainable development. This work has culminated in the recent publication of his book, 'The Response: A Story of Fire and Flood in Britain's New World of Extremes'.

  3. Jun 18

    The Serious Business of Climate Comedy: How to Engage New Audiences

    Matt Winning reflects on climate fatigue, corporate engagement, and what risk professionals can learn from the art of communicating difficult topics.   Climate change is often communicated through data, models, targets and warnings. But as important as those tools are, they do not always reach people emotionally, or bring them into the conversation in a way that feels human.   That raises an interesting question: can comedy help? Not by making light of the problem, but by making it more accessible, cutting through jargon, and creating space for people to engage with a subject that can otherwise feel overwhelming.  That's why today's episode will explore:  How comedy can act as a gateway for people who might not otherwise engage with climate change;   Why better communication matters for firms trying to build climate awareness and engagement across their teams;   And what risk professionals can learn from comedy about clarity, honesty and staying true to their convictions.   ----------------   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 Centre: 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   ------------------ Today's Speaker Dr. Matt Winning is a stand-up comedian and Lecturer in Economics of Sustainability at the UCL Institute for Sustainable Resources. Matt previously served as Head of Climate Research at Oxford Economics and has spent more than a decade researching climate policy, energy transitions, climate finance and sustainability.   He is also one of the world's leading climate comedians.  He wrote the book Hot Mess: What on Earth Can We Do About Climate Change? and has performed many climate-focused comedy shows, including at COP28 and the Edinburgh Fringe, as well as appearing on many BBC radio and television programmes. Combining academic expertise with humour, Matt focuses on helping audiences engage with climate change in ways that are accessible, informative and entertaining.

  4. May 28

    Investor Climate Action: What Finance Can and Can't Achieve

    Hear from Prof. Tom Gosling, Director of the Initiative in Sustainable Finance at the London School of Economics (LSE), as we examine the limits of investor-led climate action, the realities of stewardship and engagement, and why finance may need a more pragmatic approach to the transition.  Over recent years, investors have been asked to play a central role in driving the net zero transition. Through targets, stewardship, portfolio commitments and engagement, the idea was that finance could help push the real economy towards decarbonization.  But what if that framing overstates what investors can realistically achieve? If real-world incentives are still misaligned, and if policy remains the primary driver of economic change, then investor climate action may need to become more focused, more realistic, and more honest about its limits.  That's why this episode will explore:  Why the current model of investor climate action has run into difficulty, particularly around targets and portfolio emissions;   What more effective stewardship might look like when it focuses on achievable, real-world impact rather than headline commitments;   And why asset owners, asset managers and risk professionals may need to rethink their roles as climate risk becomes more politically contested and physically material.   ----------------  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 Centre: 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   ------------------  Today's Speaker  Professor Tom Gosling is Director of the Initiative in Sustainable Finance at the London School of Economics (LSE). He is also a member of the Financial Conduct Authority's Sustainable Finance Advisory Committee.  With more than 20 years' experience as a board adviser, including as a senior Partner at PwC where he established and led the firm's executive pay practice, he brings deep expertise across corporate governance, responsible investing, investor stewardship and sustainable finance.

  5. May 7

    The Electro-Tech Revolution: Why the Energy Transition Is Happening Faster Than You Think

    Hear from Kingsmill Bond, Senior Energy Strategist at Ember, as we explore why renewables and electrification are reshaping the global energy system faster than many realise.   We talk a great deal on this podcast about the risks and the policy challenges of the climate transition. But if that transition is actually going to happen — and happen at the speed that the science demands — there is something that has to sit at its very centre. Not the frameworks, not the disclosure requirements, not the net zero targets. The actual physical transformation of how we generate and use energy. The growth of renewables. The electrification of the things we use every day: our cars, our heating, our industry. Without that, everything else is commentary.  So where do things actually stand? How fast is the transition really moving? What does the data tell us that the mainstream forecasts might have overlooked? And in a world of geopolitical turbulence, rising energy security concerns, and significant political headwinds, what are the barriers still standing between where we are and where we need to get to?  This episode attempts to answer those questions. We'll be covering:  Why flows matter more than stocks — and what the data tells us about how fast the transition is really moving   The geopolitical energy shocks of the 2020s, what makes them different from the 1970s, and why this time we actually have solutions   And what all of this means practically for risk professionals trying to get ahead of the transition rather than simply react to it   ----------------  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 Centre: 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   ------------------ Today's Speaker Kingsmill Bond is Senior Energy Strategist at Ember, an open data think tank that has been tracking the growth of renewable energy and its impact on the global electricity system.    Kingsmill spent years as a financial analyst and strategist at some of the world's leading investment banks before making the transition to energy. This has seen him working at Carbon Tracker and the Rocky Mountain Institute before his move to Ember.

  6. Apr 16

    The Case for Adaptation: Heat Stress and the Built Environment

    Hear from Richard Flemmings, founder and CEO of Map Impact, as we explore why "dry perils" such as heat, drought and wildfire are emerging as critical climate risks for real estate and financial decision-making. When climate risks are discussed, the focus often falls on what we might call "wet perils": things like flooding, storms, and coastal erosion. These risks are well studied, widely modelled, and increasingly embedded in financial decision-making. But another category of hazards is emerging: "dry perils" such as heat stress, drought, and wildfire, which are often less visible, hard to quantify, and in many cases still underestimated. Understanding these risks requires looking closely at the landscape itself: how land is used, how heat is retained, and how nature can either amplify or mitigate climate hazards. And when you do that, some unexpected interactions between the built environment and a changing climate start to emerge. That's why this episode explores: Why dry perils have been underestimated, and why they are becoming increasingly important for financial risk management; How real-world case studies reveal unanticipated consequences of climate risk and adaptation decisions; And how nature-based solutions, from urban greening to landscape-scale interventions, can help build resilience across portfolios and communities.  ---------------- To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr To see more of our resources on climate and nature risk, visit GARP's Risk Insights: https://www.garp.org/risk-insights If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com ------------------ Today's Speaker Richard Flemmings is founder and CEO of Map Impact, a climate and environmental risk analytics firm providing bottom-up analysis of dry-perils and biodiversity. With more than 20 years' experience applying satellite earth observation and geospatial technologies across government, engineering, and NGO clients, he specializes in translating environmental data into practical insights for housing, resilience building, and climate adaptation.

  7. Mar 26

    Risk as an Enabler: How Development Banks Build Climate Resilience

    Hear from Søren Elbech, Chief Risk Officer at the Inter-American Development Bank, as we explore how development banks use risk to support countries facing climate and other systemic challenges.   When we think about risk in banking, the focus is often on managing exposures, pricing credit, allocating capital, and ensuring resilience. But what happens when the mission of a bank is not just to manage risk, but to actively take it on in order to improve lives?  In that context, risk becomes something to be deployed — carefully, deliberately, and often in parts of the world where private markets are unwilling or unable to go. This is the role that development banks are designed to play. And increasingly, it means engaging directly with systemic risks like climate change, which shape both economic stability and the resilience of communities.  That's why this episode explores:  How a development bank's model differs fundamentally from a commercial bank, and how mechanisms like preferred creditor status enable lending in higher-risk environments;  What it means to treat risk as an enabler;  And how innovative financial structures, from debt-for-nature swaps to climate-linked bonds, can help countries build resilience to climate and other systemic 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 Centre: 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 Søren Elbech is Chief Risk Officer at the Inter-American Development Bank (IADB), a mission-driven institution focused on improving lives across Latin America and the Caribbean.  With more than 30 years' experience across global capital markets and development finance — including senior roles at J.P. Morgan and the Asian Infrastructure Investment Bank — he brings deep expertise in both international finance and mission-led risk management.

  8. Mar 5

    A Different Kind of Bank: How to Embed Impact in Finance

    Hear from Sian Williams, Chief Risk Officer at Triodos Bank UK, as we examine how values-led banking can generate positive impact for people, planet and the financial system.   When we think about sustainable finance, the conversation often revolves around targets, disclosures and voluntary alliances. But what happens when sustainability is not an add-on, but the foundation of a bank's entire business model?   If sustainability is the starting point, lending decisions inevitably look different, and more complex. Not everything can be reduced to a model. Challenging trade-offs between risk, return and impact emerge. And judgment, values and governance play a much larger role in determining which activities are financed, and which are not.   In this episode, we explore:   The real-world positive impact that a mission-driven bank can generate for communities, climate and nature;   How balancing risk, return and impact shapes lending decisions in practice, and what that means for the bank's governance and internal decision-making;   And whether the model of values-led banking is truly scalable — or whether its greatest influence lies in demonstrating what is possible for the wider financial system.    ----------------    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 Centre: 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    ------------------    Today's Speaker Sian Williams is Chief Risk Officer at Triodos Bank UK, a mission-driven institution that seeks to balance profit with people and planet.   With more than 30 years' experience in finance, including senior risk and compliance roles at Lloyds Bank, and as a banking supervisor at the Bank of England and Financial Services Authority, she brings deep expertise across traditional banking, mission-driven finance and regulation.

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Hello and welcome to GARP's Climate Risk Podcast series, where we will be investigating how climate change is impacting the world of business and finance and what this means for risk management. Through the course of this series we will be bringing you insights from those working at the cutting edge of climate change. We will be joined by regulators, business leaders and risk practitioners who will help us build up a holistic view of the risks and opportunities that climate change poses and explore how this might affect you in your day to day work.

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