Category: our top article picks

2020 picks from the Acclimatise article archive – Climate impacts and extreme events

2020 picks from the Acclimatise article archive – Climate impacts and extreme events

Our second article of top picks from our 2020 article archive features six articles related to climate impacts and extreme events. Despite COVID-19 dominating the news headlines this year, the climate crisis continued unabated in 2020, with the joint highest global temperatures on record, alarming heat and record wildfires in the Arctic, and a record 29 tropical storms in the Atlantic.

To strengthen resilience and better recover from extreme weather events, it is important that adaptation measures are taken. For over fifteen years, Acclimatise has provided world-leading advisory services, helping corporates, investors and governments integrate climate change risk into their business processes and build resilience.  Acclimatise has now been acquired by Willis Towers Watson and will combine with their Climate and Resilience Hub (CRH), creating a market-leading centre of climate adaptation expertise.

WMO issue new warning as Earth approaches 1.5°C

By Lydia Messling

In July, the World Meteorological Organisation (WMO) announced that there was around a 20% chance that one of the next five years will be at least 1.5 degrees warmer than pre-industrial levels. The earth’s average temperature is already over 1 degree warmer than pre-industrial levels, and continues to rise as more greenhouse gas emissions are released into the atmosphere. The WMO forecast is significant as, in November 2016, countries signed the Paris Agreement, which included a commitment to keep warming “to well below 2°C and pursue efforts to limit it to 1.5°C”.

Read the full article here.

Climate impacts outside Europe pose greatest risk to German economy

By Will Bugler

European countries that avoid the most severe direct impacts of climate change themselves will not be spared economic damage from climate change, so suggests a new study. The report from the German Environment Agency (UBA), shows that the effects of climate change on countries outside of Europe, pose a much larger risk to Germany’s economy that climate impacts within Europe, because of international trade networks.

Read the full article here.

5 honest truths about climate change and COVID-19

By Acclimatise News

There have been a proliferation of articles that have drawn connections between the COVID-19 and climate change. Many have been hasty to declare the ramifications of COVID-19 on climate change, as well as what this means for our goals and targets to minimise its impacts. The truth is that nobody really knows how this will unravel. But we can choose, to some extent, how we react.

Read the full article here.

PLACARD report promotes CCA and DRR cooperation through the use of foresight methods

By Georgina Wade

The European research project PLACARD (PLAtform for Climate Adaptation and Risk reDuction) has released a follow up report to their 2018 foresight report, expanding on the importance of collaboration between Disaster Risk Reduction (DRR) and Climate Change Adaptation (CCA) communities. Through the establishment of a coordination and knowledge exchange platform, PLACARD aims to support multi-stakeholder dialogue and consultation between CCA and DRR research, policy and practice communities, and across scales. Specifically, the latest PLACARD report aims to promote cooperation through the use of foresight methods for policy and decision-makers.

Read the full article here.

Climate linked to largest locust swarms in 25 years threatening East Africa food security

By Will Bugler

Billions of locusts swarming through East Africa are the result of extreme weather swings and could prove catastrophic for a region still reeling from drought and deadly floods, according to experts. While desert locusts are not uncommon in the region, this years’ exceptionally high numbers have been driven by a dangerous mix of extreme weather events. At the end of 2019, the extremely wet conditions and a series of typhoons created favourable conditions for locusts to breed, and enter Ethiopia, Somalia and Kenya.

Read the full article here.

New review confirms climate change is increasing the risk of wildfires

By Sophie Turner

The ongoing fires in Australia have caused devastation of epic proportions. And with the end of the fire season still months away, it will be a long time before the full extent of the damage will become known. Most recently, it seems that some Australian journalists and politicians are looking to find someone to blame for the fires, with false information circulating online about arson or green policies being responsible – anything except climate change.

Read the full article here.


2020 Picks from the Acclimatise Article Archive – Financial Services

2020 Picks from the Acclimatise Article Archive – Financial Services

It’s that time of year again! The beginning of a new year marks a great time for dedicating oneself to resolutions, whilst also giving us an opportunity to reflect on the past year and the moments that shaped us. With that spirit of reflection in mind, we sifted through our network’s article archive and selected some of our favourites from the past year. We’ve sorted our favourite articles by topic, to make up a short, three-part series throughout the month of January. To kick things off, we bring you six articles related to climate adaptation for the financial services sector.

While 2020 was a big year in terms of newsworthy moments across the globe, there were also many significant developments within the financial services sector. In September, the United Nation’s Environment Programme Finance Initiative (UNEP FI) released a report on Phase II of its Task Force for Climate-related Financial Disclosures (TCFD) Banking Program with Acclimatise. The new report, “Charting a New Climate”, provides financial institutions with a state-of-the-art blueprint for evaluating physical risks and opportunities. A new learning paper was also launched, one which provides insights on the lessons learnt from implementing Green Climate Fund (GCF) Readiness projects in the Caribbean and aims to inform future Readiness efforts in the region or globally.

Despite the grave conditions many economies are facing due to 2020’s COVID-19-induced lockdowns, expectations for corporates and financial institutions on climate risk analysis and disclosure have not slowed. In fact, climate risk and reporting mandates only appear to be increasing. 2021 will see a continued focus on climate risk analysis in the private sector, in the lead up to the 26th Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC). 

Acclimatise has now been acquired by Willis Towers Watson, where we offer joined up services on both physical and transition related-risk analysis.

Launch of “Charting a New Climate: State-of-the-Art Tools and Data for Banks to Assess Credit Risks and Opportunities from Physical Climate Change Impacts

By Acclimatise News

UN Environment Programme Finance Initiative (UNEP FI) has released a report on physical climate risks and opportunities from Phase II of its Task Force for Climate-related Financial Disclosures (TCFD) Banking Program with climate risk advisory and analytics firm, Acclimatise. The report, “Charting a New Climate”, provides a state-of-the-art blueprint to support financial institutions to navigate the changing physical climate risk landscape.

Read the full article here.

Why climate resilience bonds can make a significant contribution to financing climate change adaptation initiatives

By Maya Dhanjal

There is a rising cost associated with economic damages related to climate change with 2019 being the most expensive year to-date and expected to only get worse. Governments who are mainly responsible for providing this funding are strapped in their ability to mobilise and manage emergency funds. Resilience bonds provide a unique opportunity to hybridise principles in debt securities and insurance policies and ultimately divert available funds into climate-resilient projects that will enhance adaptive capacity, particularly for long-lived infrastructure assets that have to face the test of time and a changing climate.

Read the full article here.

GCF readiness efforts in the Caribbean: Learning from Practice

By Acclimatise News

A new learning paper by Acclimatise provides an insight on the lessons learnt from implementing Green Climate Fund (GCF) Readiness projects in the Caribbean and aims to inform future Readiness efforts in the region or globally.

Read the full article here.

Expectation for corporates and financial institutions on climate risk analysis and disclosure continue to evolve and grow 

By Robin Hamaker-Taylor

As 2020 comes to a close, this article summarises major developments expectations for corporates and financial institutions on climate risk analysis and disclosure in the last quarter of this year. 

Read the full article here.

New report: Protecting low-income communities through climate insurance

By Will Bugler

Since 2015, the InsuResilience Investment Fund (IIF) has worked to build the climate resilience of poor and climate-vulnerable households as well as micro, small and medium enterprises, by increasing climate insurance coverage. A new report “Protecting low-income communities through climate insurance”, takes stock of its experience and achievements to date. 

Read the full article here.

Financing and de-risking nature: The next frontier for financial institutions

By Laura Canevari 

Nature and biodiversity have gained the spotlight this year, becoming the next frontier for financial services. Earlier this year, the Task Force on Nature-related Financial Disclosure (TFND) was launched under the leadership of the Global Canopy, UNDP, UNEP and WWF, aiming to redirect financial flows towards nature-based solutions and nature-adding activities.

Read the full article here.