Climate transition risk and G-8: Difference between pages

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''Climate change - financial risks''.
Loosely, a group of 8 industrialised countries comprising Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States.  The European Union is also represented.  


The Bank of England defines climate transition risk as financial risks that could arise from adjusting to a lower-carbon economy.
More strictly, a meeting of the heads of government from those countries.


Climate transition risks are distinct from the direct physical risks of climate change, such as more frequent and severe extreme weather events.  
Also known as the Group of Eight or G8.


== Suspension of Russia ==


:<span style="color:#4B0082">'''''Climate transition risks and opportunities'''''</span>
Meetings of the G-8 were suspended on 24 March 2014 due to Russian involvement in Crimea. The member countries of the G-8, excluding Russia, are meeting as the G-7.  
 
:* Policy and legal changes including changes relating to energy generation, renewable energy targets, sustainable land use and water efficiency.
:* Technological advancements in renewable energy, battery storage and electrification of transport, aviation and agriculture.
:* Change in demand for products and commodities, including fossil fuels and lithium, leading to market risk.
:* Reputational risk arising from shareholder, consumer or investor concerns, reflecting the transition in views regarding fossil fuels.
 
:''Actuaries Institute of Australia Climate Change Working Group''
 
 
:<span style="color:#4B0082">'''''What are the climate transition risks?'''''</span>
 
:"Transition risks can occur when moving towards a less polluting, greener economy. Such transitions could mean that some sectors of the economy face big shifts in asset values or higher costs of doing business. It’s not that policies stemming from deals like the Paris Climate Agreement are bad for our economy – in fact, the risk of delaying action altogether would be far worse. Rather, it’s about the speed of transition to a greener economy – and how this affects certain sectors and financial stability.
 
:One example is energy companies. If government policies were to change in line with the Paris Agreement, then two thirds of the world’s known fossil fuel reserves could not be burned. This could lead to changes in the value of investments held by banks and insurance companies in sectors like coal, oil and gas.
 
:The move towards a greener economy could also impact companies that produce cars, ships and planes, or use a lot of energy to make raw materials like steel and cement."
 
:''Bank of England''




== See also ==
== See also ==
* [[Bank of England]]
* [[G-20]]
* [[Climate change]]
* [[G-7]]
* [[Climate Disclosure Standards Board]]
* [[G-77]]
* [[Climate liability risk]]
* [[Climate physical risk]]
* [[Climate risk]]
* [[COP26 Private Finance Hub]]
* [[Financial Conduct Authority]]
* [[Financial Stability Board]]
* [[Fossil fuel]]
* [[G20]]
* [[Listing Rules]]
* [[Market risk]]
* [[Paris Agreement]]
* [[Premium Listing]]
* [[Reputational risk]]
* [[Stakeholder]]
* [[Standard Setting Body]]
* [[Stranded assets]]
* [[Task Force on Climate-related Financial Disclosures]]
* [[TCFD Recommendations]]
* [[Transition finance]]
* [[Transition risk]]
* [[World Economic Forum]]
 
 
== External link ==
* [https://www.bankofengland.co.uk/knowledgebank/climate-change-what-are-the-risks-to-financial-stability Climate change - What are the risks to financial stability? Bank of England]
 
[[Category:The_business_context]]
[[Category:Corporate_finance]]
[[Category:Compliance_and_audit]]
[[Category:Ethics]]
[[Category:Identify_and_assess_risks]]
[[Category:Manage_risks]]
[[Category:Risk_frameworks]]
[[Category:Risk_reporting]]
[[Category:Financial_products_and_markets]]

Revision as of 13:37, 11 August 2015

Loosely, a group of 8 industrialised countries comprising Canada, France, Germany, Italy, Japan, Russia, the United Kingdom and the United States. The European Union is also represented.

More strictly, a meeting of the heads of government from those countries.

Also known as the Group of Eight or G8.

Suspension of Russia

Meetings of the G-8 were suspended on 24 March 2014 due to Russian involvement in Crimea. The member countries of the G-8, excluding Russia, are meeting as the G-7.


See also