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TCFD and BoE Conference on Climate Scenarios, Financial Risk and Strategic Planning

The Task Force on Climate-related Financial Disclosures (TCFD) held a two-day conference in collaboration with the Bank of England (BoE) discussing scenario analysis and how it can help companies assess climate risks in their strategic planning and risk management processes.

Day 1 provided a high-level overview of the TCFD recommendations with regard to the use of scenario analysis; what scenario analysis is and why it is useful for assessing climate-related risks; how climate-related scenario analysis works in practice today – who is using it; experiences; and available tools. Day 1 is was hosted by the FSB TCFD and was open to press.

Day 2 brought together business practitioners, leading researchers from academia, and finance professionals to discuss in more detail how climate-related scenarios can be used for strategic and financial risk analysis and how scenarios could be improved. The goal was to highlight successful approaches, and identify further work and collaboration needed in this area. Day 2 was hosted by the Bank of England and was held under Chatham House rules.

Registration link and full agenda.

Date & Time:
Tuesday, October 31, 2017 – Wednesday, November 1, 2017
9 AM — 5 PM

Location:
The Ned Hotel
27 Poultry
London EC2R 8AJ
United Kingdom

Gallery
Scenario Analysis Overview

Task Force member briefly explain what scenario analysis is and why the TCFD has included it as part of its recommendations for better climate-related financial disclosures.

Welcoming Remarks

Mary Schapiro 
Special Advisor to the Chair, TCFD; Former Chair, US SEC

Keynote by Lord Stern

Lord Nicholas Stern
Chair, LSE Grantham Research Institute on Climate Change and the Environment

What Is Scenario Analysis and How Can It Help Businesses?

Andrew Blau
Managing Director, Strategic Risk, Deloitte

IEA and IAMC Scenarios

Dr. Elmar Kriegler
Vice Chair, Sustainable Solutions, Potsdam Institute for Climate Impact Research

Dr. Christophe McGlade
Oil & Gas Analyst, International Energy Agency (IEA)

Moderator: Seb Henbest
Head of Europe, Middle East & Africa, Bloomberg New Energy Finance

Use of Scenarios in the Oil & Gas and Electric Utility Sectors

Jeremy Bentham
Vice President, Global Business Environment, Royal Dutch Shell

Zita Marko Daatland
Head of Macro and Energy Market Analysis, Statoil

Claudio Dicembrino
Head of Macroeconomic and Energy Analysis and Forecasting, Enel

Laurel Peacock
Senior Manager, NRG Energy

Javier Torres
Project Manager for Sustainable Development and Climate Change, EDF

Moderator: Curtis Ravenel
Global Head, Sustainable Business & Finance, Bloomberg LP

Use of Scenarios in the Transportation and Materials Sectors

Dr. David McCollum
Senior Research Scholar, International Institute for Applied Systems Analysis

Dr. Marcus Wachtmeister
Head of Government Affairs, BMW Group UK

Fiona Wild
Vice President, Climate Change and Sustainability, BHP Billiton

Moderator: Curtis Ravenel
Global Head, Sustainable Business & Finance, Bloomberg LP

Use of Scenarios in the Financials Sector

Meryam Omi
Head of Sustainability and Responsible Investment Strategy, Legal & General Investment Management

Jillian Reid
Principal, Responsible Investment, ESG, Climate Change, Sustainable Growth, Mercer

Jakob Thomä
Director, 2° Investing Initiative

Moderator: Curtis Ravenel
Global Head, Sustainable Business & Finance, Bloomberg LP

Overview of Selected Existing and Emerging Scenario Tools

Dr. Martin Juckes
Head of Science and Head of BADC, Centre for Environmental Data Analysis (CEDA)

Leonardo Martinez-Diaz
Global Director, Sustainable Finance Center, WRI (World Resources Institute)

Dr. Keywan Riahi
Director, Energy (ENE) Program, International Institute for Applied Systems Analysis (IIASA)

Moderator: Charles Allison
Partner, ERM