Assessing Climate Change Risks and Opportunities for the Financial Sector
Starting from January 2025, the Hong Kong Exchanges and Clearing (HKEX) will implement the reporting of climate-related disclosures for listed companies using the Task Force on Climate-Related Financial Disclosures (TCFD) framework to align with the International Sustainability Standards Board (ISSB) Climate Standard. This development highlights the growing recognition that climate risk assessment is no longer just an optional exercise but a necessity to provide investors and stakeholders with a clear understanding of business risks. This seminar will explore how financial institutions conduct climate change risk assessments in the context of decision-making. Climate change risks can be classified into physical and transition risks. Physical risks are the direct impacts of climate change, including extreme weather events, rising sea levels, and temperature and precipitation patterns. In contrast, transition risks are associated with the shift from a fossil-fuel-based economy to a lower-carbon economy. The talk will systematically identify, assess, and present these risks using available scientific tools and policy resources. By understanding climate change risks and opportunities, investors can effectively manage the risk impacts on the business or capitalise on opportunities. They can allocate resources towards mitigation and adaptation efforts, enhance resilience, and reduce associated greenhouse gas emissions where applicable.
Date
1 Mar 2024 (Fri)
Time
10:30am-11:55am (HKT)
Format
In-Person and Zoom
Venue
Room 5620, Academic Building (Lift 31-32), HKUST
Topic
“Assessing Climate Change Risks and Opportunities for the Financial Sector”
Speaker
Ms Dane Ancheta, Consultant, IBIS Hong Kong
Moderator
Prof. Laurence Delina, Assistant Professor, Division of Environment and Sustainability, The Hong Kong University of Science and Technology
Registration
Dane is a consultant at IBIS Hong Kong, working in the Resource Efficiency and Climate Change team. She has six years of experience working in the climate change and sustainability field, specialising in Climate Change risk assessments, decarbonisation and mitigation research and greenhouse gas accounting. She holds an MPhil in Environmental Science, Policy and Management from the Hong Kong University of Science and Technology. Her master’s research was on the Decarbonization and Sustainability of the Hong Kong municipal solid waste sector. She also holds bachelor’s degrees in applied physics and computer systems. Dane has worked on TCFD roadmap developments and Environment and Social Management Systems -climate change enhancements for private equity funds and companies across Asia and Africa, integrating climate change risks into the investment processes across the region. Dane has conducted climate change risk assessments for due diligence and has led the development of climate change materiality assessments, greenhouse gas calculators, and TCFD roadmaps.