Richard Berner, clinical professor of finance at the Stern School of Business, New York University, joins Natalia Ospina, deputy head of reports, OMFIF. They take a deep dive into the climate stress testing methodology that he developed with Nobel Prize in Economics winner Robert Engle and Hyeyoon Jung, financial economist at the Federal Reserve Bank of New York, which gauges the resilience of financial institutions to climate-related risks.
They discuss in detail how climate change could lead to a substantial increase in systemic risks in the banking sector. Financial institutions could find themselves looking to raise $70bn-$90bn, or between 20% to 30% of their equity to restore their prudential capital ratios as a result of climate change.
Why you shouldn’t miss the Sustainable Policy Institute symposium
How central banks can drive gender equality
How Austria is breaking ground with green T-Bills
QT, asset pricing and financial markets: central banks’ ‘other’ monetary policy tool
The Bank of Japan’s yield target tensions
A solution for stablecoin and CBDC interoperability
What starts with ESG does not end there
Meeting net zero targets with the UNEP
OMFIF outlook: what’s in store for 2023?
EU bonds: towards sovereign status
20 Minutes Coffee with Neil Williams and Antonio Curia
Reflecting on COP27: scaling up climate finance and ensuring a just transition
OMFIF Public investor outlook 2023
Everything FTX
Jana Harvey on the debt outlook for EM sovereigns in 2023
Responsible lending with BNPL
Is this the end of globalisation?
Christian Kopf on liquidity and volatility in the European SSA bond market
Avoiding a debt crisis
Countdown to COP27: More African countries implementing sustainability-focused policies
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