Climate risk management (CRM) and how it relates to achieving alignment with climate outcomes (ACO)

Journal article

Abstract:: Instead of incidentally contributing to Alignment with Climate Outcomes (ACO) through Climate Risk Management (CRM) initiatives like the Task Force on Climate-related Financial Disclosures (TCFD), we need specific ways of dealing with and contributing to the challenge of alignment. These need to be articulated, developed, and scaled across the financial system rapidly. Without rebalancing the distribution of effort and spending more time explicitly on ACO, we cannot ever hope to align finance and the financial system with climate change objectives. One of the most significant things policymakers can do to spur rapid ACO is to make ACO targets and transition plans mandatory for all financial institutions as soon as possible.

Files:: Caldecott_2020_Climate_risk_management.pdf

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Publisher:: Taylor and Francis
Journal:: Journal of Sustainable Finance and Investment More from this journal
Volume:: 12
Issue:: 4
Pages:: 1167-1170
Publication date:: 2020-12-21
Acceptance date:: 2020-11-06
DOI:: 10.1080/20430795.2020.1848142
EISSN:: 2043-0809
ISSN:: 2043-0795

Language:: English
Keywords:: climate change

FFR

sustainable finance

climate-related risk

TCFD

Paris Agreement
Pubs id:: 1146087
Local pid:: pubs:1146087
Deposit date:: 2020-11-19

Copyright holder:: Ben Caldecott
Rights statement:: © 2020 The Author(s). Published by Informa UK Limited, trading as Taylor & Francis Group This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is properly cited, and is not altered, transformed, or built upon in any way.

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