“We need to change course now”

Momentum is building across multiple fronts. Last week banks came with out a statement that they face $20tn ($20,000,000,000,000) of climate risk.  

“We call on policymakers and the financial sector to … collaborate to bridge the data gaps to enhance the assessment of climate-related risks”

Open letter by Governor of Bank of England Mark Carney,  Governor of Banque de FranceFrançois Villeroy de Galhau,  Chair of the Network for Greening the Financial Services Frank Elderson

“The estimated losses are large – $1tn-$4tn when considering fossil fuels alone, or up to $20tn when looking at a broader range of sectors . Even at the bottom ends of these ranges, losses represent a material share of global financial assets. A climate Minsky moment, where asset prices adjust quickly with negative feedback loops to growth, seems possible. That underlines why the financial system needs an early and orderly transition. And why we need to change course now.”

Sarah Breeden, Executive Director, International Banks Supervision, Official Monetary & Financial Institutions Forum, London

In discussing what current risk models look like, we’ve been envisaging what the risk models of tomorrow could and should look like. We’ve made a template of today versus tomorrow that you can comment on/edit/copy. 

ACTION: add your story

We’re all about user needs. We’re going to be adding more details from our workshop in the coming week, but please see the summaries and add your story here. 

Please help us to find people who have stories.

ACTION: help us find supporters

Our list of supporters continues to grow. Please help us connect with organisations who’d like to join the discussion privately, or publicly “Support the Icebreaker One discussion”.

ACTION: email, tweet and social media things

Please help us connect with organisations who’d like to join the discussion privately, or publicly.
Share/adapt these as needed:

  • Resilient data for a resilient society — https://ib1.org is working to make it easier to share the data we need to invest in a sustainable society. Add your story today. #GPGeneva19 / Every day is #EarthDay
  • Between 2000-2013, disasters cost the world $2.5tn. Help change the way we think about and finance resilience—join https://ib1.org   #GPGeneva19
  • Working on environmental risk modelling? New interoperability project—sign up now https://ib1.org#GPGeneva19
  • Want to help create a marketplace for environmental data? Add your voice https://ib1.org  #GPGeneva19