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Publication of the UNEP FI and SBI Study

“Advancing Adaptation through climate information services - Results of a global survey on the information requirements of the financial sector”

While the reasons for focussing on climate change mitigation are manifold and convincing, it appears true that the urgent need to seriously think about, and take action on, adapting to climate change has been somewhat neglected: a changing climate will be a challenge - for the international community of states as well as for individual enterprises across all sectors of the economy. Enabling adaptation will require the provision of appropriate climate information to decision makers and practitioners and its systematic integration into core operations, be it in business or policy. In its role as a multiplier, the financial services sector fulfils a crucial part in supporting economic systems to be better prepared for the challenges of climate change.

In December 2010 in Cancun, Mexico, further steps towards a new global deal on climate change mitigation but also on adaptation, e.g., in terms of the new “Cancun Adaptation Framework” were made. As the World Climate Conference 3, in 2009 in Geneva pointed out, one important basis for such measures is appropriate information about climate change and its impacts.

The following study, conducted by the UNEP Finance Initiative (UNEP FI) and Sustainable Business Institute (SBI), reflects the results of a survey among insurers and reinsurers, lenders and asset managers about climate change impacts on their business, and about their information needs regarding climate change:

”Advancing adaptation through Climate Information Services: Results of a global survey on the information requirements of the financial sector“

Sixty financial institutions from all continents participated in the survey and gave insights into their information requirements, assessments, and current management of these issues.

The launch event on January 12th, 2011, at Deutsche Bank AG in Frankfurt (Main) was successful. We discussed the report with more that 70 representatives from the financial services sector, from government and a range of industry sectors.

Agenda and list of speakers and panelists

Presentations held from

Further interviews with:

  • Prof Dr Guy Brasseur (Director of the Climate Service Center (CSC))
  • Dr Paschen von Flotow (Head of the Sustainable Business Institute (SBI))
  • Dr Tobias Just (Head of Sector and Real Estate Research at Deutsche Bank Research)
  • Stefan Löbbert (Head of Corporate Sustainability Division at HypoVereinsbank
    (Member of UniCredit))
  • Dr Rainer Müssner (Officer in the BMBF-Department Global Change)
  • Ernst Rauch (Head of the Meteorological and Climate Risks
    Department at Munich Re)
  • Guido Stier (Head of Industrial Property and Commercial Property at AXA
    Versicherung AG)