DITCHED: How Financial Regulators Can Protect Against Climate Risk with Steven Rothstein

Our hope is in 2021 there will be a vaccine for the pandemic. We know there’s never going to be a vaccine for climate change. We know that it’s just going to accelerate. The fires will grow, the floods will grow, the tornadoes, the droughts, the transition risks. So then the human cost, the economic cost, the financial market cost will grow, because there is no vaccine for climate.”

GUEST: Steven Rothstein, managing director of the Ceres Accelerator for Sustainable Capital Markets

SHOW NOTES: Financial regulators have a key role to play in addressing the systemic risks presented by climate change. Arguably, it’s part of their mandate to safeguard financial markets and the real economy from disruptive shocks.

Like the COVID-19 pandemic, change change has the potential to wreak havoc on asset valuations and economic stability, as well as the lives and livelihoods of millions of people — particularly if these events are poorly managed. 

We discuss the steps regulators can take to protect against potentially devastating climate-related impacts in this episode of DITCHED, a Political Climate miniseries on fossil fuels, money flows and the greening of finance. What exactly do those regulatory actions look like? Who is responsible for taking them? What is the upshot for fossil fuels use? And how does this play politically?

Steven Rothstein, managing director of the Ceres Accelerator for Sustainable Capital Markets, explains.

Listen to the full episode here. 

Episodes of DITCHED air on Mondays. To catch all of these shows, subscribe to Political Climate wherever you get podcasts!

Recommended reading:

  • NYT: Climate Change Poses ‘Systemic Threat’ to the Economy, Big Investors Warn
  • Politico: Ottawa seizes Covid-19 opportunity to require climate risk reporting
  • Bloomberg: Fed opens door for oil company loans after lobbying campaign
  • Ceres: Addressing Climate as a Systemic Risk

Episodes of DITCHED will air Mondays over the next several weeks. Listen and subscribe to Political Climate on Apple Podcasts, Spotify, Stitcher, Google Play or wherever you get podcasts!

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