We were pleased to host the Launchpad to Net Zero: Implications of COP26 for the Global Financial Sector event, in partnership with KPMG. With COP26 highlighting the urgency of the Net Zero agenda, the focus of COP27 in November 2022 is shifting towards near term targets—the progress on reducing emissions that must be made during the next several years to keep the goals of the Paris Agreement within sight.
One thing is clear: the financial services industry has an integral role to play in the transition to a Net Zero future. This panel looked beyond the proliferation of ambitious climate commitments to the practical actions needed to forge credible transition paths that will get us to these goals. We tackled some of the toughest questions—how do we plan for the impact of decarbonization? How do we set achievable targets backed by science, while keeping flexibility to respond to shifting climate policies, regulation and technologies? What are the best approaches to managing and reporting on climate and ESG risks? How can the financial services industry counter regulatory fragmentation when different jurisdictions move at different speeds? How can financial firms mobilize themselves and their clients as we look ahead to 2030, and ensure that we help deliver on the promise of COP26?
Opening Remarks:
- Tim Adams, President and CEO, IIF
- Kay Swinburne, Vice Chair of Financial Services, KPMG UK
Panel Discussion:
- Bridget Beals, Partner, Co-Head of Climate Risk and Decarbonisation Strategy, KPMG UK
- Noeleen Cowley, Partner, Head UK Risk and Regulatory Driven Transformation and Financial Services Lead Partner for ESG, KPMG UK
- Sonja Gibbs, Managing Director and Head of Sustainable Finance, IIF
- Peter Kanning, Global Head of Sustainable Finance Strategy & Implementation, HSBC Holdings plc
- Jonathan Posen, Head of Strategy, Sustainable Investing, BlackRock
- Michael Scarpa, Managing Director, Financial Services Regulatory Compliance and Risk, KPMG US