Eminent Speaker: Paul Fisher - The risks to the financial sector from climate change (Fully Booked)
Tue 16 May 17 at Nomura, London

This event is being kindly hosted by



Over the past two years, the subject of climate change has gone from being an issue treated variously as social, moral, ethical or political, dealt with by most firms under corporate social responsibility, to become a mainstream financial risk issue. Not every financial sector firm has made that transition and some sectors, such as insurance, are ahead of others, such as banking. Governments have also woken up to the need to take the risks seriously, with 197 signatories to the Paris agreements in 2015, pledging to limit global warming to no more than +2.00 degrees over late 19th century levels. We are already at +1.20.

In this talk, Paul Fisher gives an ex-regulator’s perspective on the sources of risk, how they play into the balance sheets of firms and why the financial sector needs to take action now - in the financial interests of intermediaries and beneficiaries alike- rather than wait for the full physical effects of climate change to crystalise. The talk will cover climate risks, financial stability issues, the latest views on fiduciary duty and the potential business opportunities that this agenda has thrown up.
Speakers
Dr Paul Fisher
Senior Associate, Cambridge University Institute for Sustainability Leadership


After an initial ten year career as an academic economist specialising in macro-econometric modelling, Paul Fisher was a policy maker at the Bank of England for 26 years, serving on its monetary policy committee, interim financial policy committee and the board of the Prudential Regulation Authority as well as on a number of international committees. His senior posts in the Bank included Executive Director for Markets from 2009 to 2014, Executive Director for Insurance Supervision from 2014 to 2015, and Deputy Head of the PRA from 2014 to 2016. During his time in the PRA he had responsibility for coordinating the Bank’s work on climate change on behalf of the Governor, Mark Carney.

He retired from the Bank in mid-2016 to pursue a diversified career of non-executive, consultancy and academic work.  His roles now include: Chair of the London Bullion Market Association; Non-executive Director at the UK Debt Management Office; Consultant Advisor to the Centre for Central Banking Studies at the Bank of England; Associate of the Systemic Policy Partnership which advises on national Financial Stability governance arrangements; Chair of the Board of Trustees at the London Institute of Banking and Finance; Senior Associate at the Cambridge University Institute for Sustainability Leadership (CISL) and through them, Vice-Chair of the Banking Environment Initiative; Member of the EC High Level Experts Group on Sustainable Finance; Visiting Professor in Economics and Finance at Richmond, the American International University in London and a member of its Well-Being Centre; Member of the Advisory Board, UEA Centre for Competition Policy.

In recent years Paul's published work and public speaking has covered a wide range of topics including monetary policy, financial regulation, financial markets including benchmark indices, central bank operations, policy co-ordination and the financial risks from climate change. On the latter topic he has given presentations in Australia, Japan, the Netherlands and at COP21 in Paris, as well as in the UK, and he has connections with a variety of groups internationally with his base for climate change work being at CISL.

When and where?

Date
Tuesday 16 May 17

Time
Registration: 18:00
Event: 18:30 - 19:30

Location
Nomura, 1 Angel Lane, London EC4R 3AB
View map | View directions

Nearest tube station
Cannon Street/Bank
TFL journey planner

Price
Member - ££0
Non-member - ££50
CPD

This is eligible for 1 CPD hour