For only $99 and a trip to Toronto for July 15, you can hear from big-money and a federal cabinet minister about change coming up for businesses everywhere. The focus here is on the financial sector, but the message is clearly relevant to all. The subject is Climate Change and Financial Markets. The organizer is the Toronto Region Board of Trade.
Here in BC, we continue to push ourselves as carbon dealer to the world. LNG, coal — c’mon down, we got all you want. And just look, we’re building bigger coal ports and soon (real soon now) LNG plants that will be our economic savior and the envy of the world. Carbon budget? Why, that’s a problem for someone else. We just sell it.
From the event organizers:
Climate change, emerging government and investor pressure for reduced emissions, and the evolution towards a low carbon global economy create significant risks and important opportunities for Canada’s financial sector. Markets and market regulators throughout the world are responding in numerous ways.
Mark Carney is at the center of these developments. Governor Carney has emphasized the importance of ensuring that the financial system is resilient to these dynamics so that it can adjust and finance the transition to a low carbon economy efficiently. Last year, the G20 asked Governor Carney, as Chair of the Financial Stability Board, to review how the financial sector can incorporate climate-related issues in corporate reporting. The Task Force on Climate-Related Disclosure (*) issued its Phase I report in December 2015, and its final report is expected later this year.
Join Mark Carney, Governor of the Bank of England and Chair of the Financial Stability Board and the Honourable Catherine McKenna, Minister of Environment and Climate Change, as they discuss the implications of climate change initiatives for the financial sector in Canada and worldwide.
So why bother with this work? Can’t we just plow ahead as if it were still 1950?
(*) There is also increasing agreement in the business and financial communities that some degree of climate change is inevitable, and that its impacts, both physical and nonphysical, may present material risks and opportunities that span both adaptation and mitigation strategies. In the runup to COP21, 350 investors representing more than US$24 trillion in assets under management called on world leaders to forge a meaningful and ambitious climate agreement, in recognition of the risks that climate change presents to their investments.