Podcast: Climate Risks to the Financial System

Year Published

2020

Contributing Organizations

International Monetary Fund (IMF)

Global Affairs Canada (GAC)

Toronto Centre

The Swedish International Development Cooperation Agency (Sida)

Type of Resource

Webinar or Podcast

Languages

English

Relevant Topics

Core Topic

Climate & Transition Finance

Target Audience

Governments & Policymakers

Insurers

Banks

Education Providers / Think Tanks / NGOs

Technical Assistance Providers

Relevant Geography

Global

Resource Description

This podcast explores the urgency of climate action, financial sector exposure, and the role of supervisors in advancing disclosure and risk oversight.

Why This Matters

The resource shows that climate risks have direct implications for financial stability and long-term value

Key Insights

Frames the climate crisis as a “threat multiplier,” with only a decade left to halve fossil fuel use
Highlights how climate disclosures reveal hidden risks, prompting over $14 trillion in fossil fuel divestments
Notes rising legal liability for high-emitting firms, with climate damages exceeding $600 billion in 2017–2018
Observes that financial institutions are less dependent on fossil fuel lending than in the past
Stresses the role of supervisors in requiring disclosure and assess systemic risks tied to fossil fuel reserve valuations

Secondary File Resources

Secondary Resource Link(s)

Direct link to TC Website for further information

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