The implications of decarbonisation for business and the financial sector

In preparation for the Paris climate conference in December 2015, Bruegel hosts a closed-door event on the implications of decarbonisation for business and the financial sector.

Both decarbonisation and the effects of climate change will have a material impact on business and the financial sector. To give one example, the current value of the oil and natural gas reserves which would have to stay in the ground to meet the climate targets is more than USD 100 trillion. These reserves are a core fundamental in the valuation of oil and gas companies - and the financial companies that invested into them. On the other hand, to use these reserves could contribute to catastrophic climate change. This would have extremely negative consequences to society as a whole and therefore also the energy and finance businesses.

Following short presentations from Mike Wilkins (S&P), Mark Campanale (executive director and founder of Carbon Tracker Initiative), Jean Boissinot (French Trèsor) and Achim Steiner (UN Under-Secretary-General and UNEP Executive Director) participants will discuss how the financial risks related to decarbonisation and climate change could be better accounted for in the financial statements of companies, and how this might affect the financing of low-carbon investments.

This is a closed-door event for invited participants only. There is another event about the path to a low-carbon economy later the same day. We will be accepting public registrations for places at this event from 13 April, and it will be live streamed on the event page.