Westminster Business Forum

The impact of green finance and climate change on financial services

Morning, Tuesday, 10th September 2019

Central London

THIS EVENT IS CPD CERTIFIED



This seminar will consider the impact of green finance and climate change on financial services.


Delegates will consider the risks posed to sector and the appropriate regulatory response - as well as options for supporting the growth of green finance.


The seminar is timed to follow the anticipated publication of the Green Finance Strategy which will set out the Government’s proposals to increase investment in sustainable finance and for integrating green principles across the sector - including the launch of the Green Finance Institute, a Clean Growth Fund and measures to increase investment in green infrastructure. 


Delegates will assess the proposals set out in the strategy and consider next steps for government and industry in supporting growth and competition in green and sustainable finance - looking at avenues for innovation, trends in investment and product development, and latest thinking on how firms can adopt green principles as part of their culture.


The agenda discusses the transparency of environmental and green reporting following the introduction of the Streamlined Energy and Carbon Reporting requirements in April 2019, which will require businesses to report their energy use and climate change emissions.


It follows concerns around the potential ‘greenwashing’ of some investment products delegates will consider what further measures could be taken to improve the transparency of firms environmental impact to protect consumers and investors.       


In light of the significant impact climate change is expected to have on financial services, sessions will also discuss the risks posed by global warming to financial services and how firms can adequately protect themselves, following concerns raised by the Governor of the Bank of England that banks are not adequately identifying and measuring the financial risks associated with climate change.    


We expect discussion on the impact of exposure to increased extreme weather events on the insurance sector and more widely in financial services, growing investor activism promoting fossil fuel disinvestment, and global trends towards the tightening of regulation and taxation for carbon emitting businesses.


Sessions will also look at the future regulatory response to green finance and the effects of climate change on financial services.


It comes as the FCA and PRA consider responses to their consultations on this area with delegates discussing how regulators can best help to ensuring the protection of consumers and the financial services sector in response to the growth of green finance and the impact of climate change - such as the introduction of rules to place extra responsibilities on pensions trustees to consider the risks arising from climate change.



Keynote Speaker

Sir Roger Gifford

Chairman, Green Finance Initiative, City of London Corporation; Chair, Green Finance Taskforce and UK Country Head, SEB

Keynote Speakers

Chris O’Donovan

Senior Policy Advisor, HM Treasury

Sir Roger Gifford

Chairman, Green Finance Initiative, City of London Corporation; Chair, Green Finance Taskforce and UK Country Head, SEB

Chair

Lord Teverson

Chairman, House of Lords EU Energy and Environment Sub-Committee and Chairman, Wessex Investors (subject to Parliamentary business)

Speakers

Ed Wells

Group Head of Policy, Sustainable Finance and Investment, HSBC Holdings

Charlie Kronick

Senior Climate Advisor, Greenpeace

Jon Williams

Partner, Sustainability and Climate Change, PwC