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The Science of Climate Change

Climate change is no longer a distant threat or just a possibility, it is now a reality for all of us. In this pathway, Kevin Trenberth, a renowned climatologist, delves into the science behind climate change. He first introduces the climate system, its main components and forces.

Tackling the Plastic Crisis

Plastic pollution is by far the biggest threat to our oceans and this remains an incredibly tough problem to solve. Plastic credits could potentially serve as one of the much needed solutions for this crisis.

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The Scale of the Net Zero Challenge

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy.

ESG, Sustainability and Impact Jargon Buster

ESG, sustainability, impact… they all just mean green, right? Not quite. Despite being used often interchangeably, there are distinct differences between these terms.

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Featured Pathways

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The Science of Climate Change

Climate change is no longer a distant threat or just a possibility, it is now a reality for all of us. In this pathway, Kevin Trenberth, a renowned climatologist, delves into the science behind climate change. He first introduces the climate system, its main components and forces.

Tackling the Plastic Crisis

Plastic pollution is by far the biggest threat to our oceans and this remains an incredibly tough problem to solve. Plastic credits could potentially serve as one of the much needed solutions for this crisis.

More pathways

Ready to get started?

PLANS & MEMBERSHIP

Our Platform

Expert led content

+1,000 expert presented, on-demand video modules

Learning analytics

Keep track of learning progress with our comprehensive data

Interactive learning

Engage with our video hotspots and knowledge check-ins

Testing & certification

Gain CPD / CPE credits and professional certification

Managed learning

Build, scale and manage your organisation’s learning

Integrations

Connect Sustainability Unlocked to your current platform

Featured Content

More featured content

The Scale of the Net Zero Challenge

The price of meeting net zero is estimated to be between $100-150 trillion over the next 30 years. Regardless of this cost, we need to reach net zero before climate change does irreversible damage to the environment and the economy.

ESG, Sustainability and Impact Jargon Buster

ESG, sustainability, impact… they all just mean green, right? Not quite. Despite being used often interchangeably, there are distinct differences between these terms.

More featured content

Ready to get started?

Ready to get started?

Lessons from Network for Greening the Financial System (NGFS)

Lessons from Network for Greening the Financial System (NGFS)

Sarah Breeden

Executive Director: Bank of England

This video helps recognise how climate change creates financial risks that matter for individual firms. Sarah further outlines what the Bank of England is doing to help banks and insurers manage financial risks from climate change and also discusses the work undertaken by the Bank of England and the NGFS in modelling climate risks.

This video helps recognise how climate change creates financial risks that matter for individual firms. Sarah further outlines what the Bank of England is doing to help banks and insurers manage financial risks from climate change and also discusses the work undertaken by the Bank of England and the NGFS in modelling climate risks.

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Lessons from Network for Greening the Financial System (NGFS)

8 mins 53 secs

Key learning objectives:

  • Recognise that climate change creates financial risks that matter for individual firms

  • Outline what the Bank of England is doing to help banks and insurers manage financial risks from climate change

  • Discuss the work undertaken by the Bank of England and the NGFS in modelling climate risks

Overview:

Climate change creates risks that impact individual firms, but it can also jeopardise the stability of the financial system as a whole. This is why the Bank of England is helping market participants manage financial risks from climate change, announcing supervisory expectations for banks and insurers to manage these risks, and establishing the Climate Financial Risk Forum, with the aim of building expertise and sharing best practices.

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Summary

What do we know from work to date?

It has always been obvious that climate change has had an impact on the environment. But market participants have only recently begun to realise that climate change creates financial risks that impact individual firms. The financial system has also realised that it has a crucial role to play in addressing these risks. 

How is the Bank of England helping the financial sector manage financial risks from climate change?

In 2019 the Bank became the first supervisor in the world to set supervisory expectations for banks and insurers to manage the financial risks from climate change. These supervisory expectations ensure that firms take a strategic forward-looking approach to managing the risks.

They have also established the Climate Financial Risk Forum, which has the intention of building expertise and encouraging the sharing of best practices on what good climate risk management looks like. 

The Bank of England is also helping others with their work on financing green, by channelling investment to reduce carbon emissions and through innovation. 

What has the Bank of England learned from working with the NGFS?

The Bank of England, along with nearly 60 other central banks and supervisors under the macrofinancial workstream of the NGFS undertook a project to co-design climate scenarios. There were some key lessons learned in the process: 

  • We often talk about how much we don’t know, but this doesn’t do justice to how much work has been done.
  • The cost to the economy in aggregate of getting to net zero need not be substantial
  • The impacts of physical risks will be significant

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Sarah Breeden

Sarah Breeden

Sarah Breeden is the Executive Director for Financial Stability Strategy and Risk at the Bank of England. She is responsible for guarding the wider economy against damage from the financial system. Sarah has worked at the bank for 30 years, most recently as head of International Bank Supervision.

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