Financial institutions are taking a growing interest in the assessment of climate-related risks, encouraged by regulators, investors, Director duties and disclosure requirements.   BlackRock, the world’s largest manager has stated it expects demonstrable fluency in climate risk from Directors.  Of particular relevance is the recent report of the Task Force on Climate-related Financial Disclosures (TCFD). The aim of the TCFD is to provide a voluntary, consistent disclosure framework that improves ease of producing and using climate–related  disclosures in financial statements.  The call to action has been issued and it is time for companies to respond.

In view of the growing interest in this area the Actuaries Institute in co-operation with the Earth Systems and Climate Change (ESCC) Hub is hosting a seminar series called Climate Risk Fluency.  The series of half-day seminars is intended to bring together staff working in companies’ risk, financial, corporate responsibility and sustainability teams with experts in climate risk science from CSIRO, the Bureau of Meteorology and University research teams.    

The first seminar in the series will explore the needs of business, and provide an overview of the types of information currently available about the past and future climate, and the techniques available to assess future hazard extremes.  The seminar is a must attend event for anyone directly involved with or interested in how climate may affect financial institutions.  

It is intended that later events in the series will provide a deeper dive into the current state of knowledge for specific types of hazard, including the case of case studies to illustrate.  There are also plans to examine how stress scenarios can be used by companies to consider the climate risks faced, recognising that future climate outcomes are uncertain. 

Plenary 1: It’s Time for Business to Act on Climate Risk

  • Emma Herd – CEO, Investor Group on Climate Change
This session will explain the reasons that financial institutions will be considering how climate risk may affect them.  Not only does it make good business sense, but regulators, investors and Directors have all been clear about what they expect of business.  The recent report of the Financial Stability Board Task Force on Climate-related Financial Dislosures ups the ante further by providing recommended climate risk disclosures that companies should consider making to stakeholders.  Whilst these disclosures are voluntary, there are high expectations that they will be acted on.  Its time for business to catch up to the science.   

Plenary 2:   Delivering Climate Risk Disclosure in the Finance Sector

  • Chair: Tim Andrews – Director, Finity
  • Sharanjit Paddam – Principal, Deloitte
  • Dr Nick Wood – Director, Climate Policy Research
  • Paul Holland – Head of Portfolio Risk and Insights – Westpac Group

What Information do we Need and Why?

  • The session will examine the recommendations made by the Task Force on Climate –related Financial Disclosures from the pragmatic view of what data the finance sector will need to make disclosures. 
  • The disclosure recommendations acknowledge that climate related impacts can occur over the short, medium and long term and that organisations can experience both chronic and acute impacts.  The panel will discuss how addressing these will require the finance sector to work with many different types of data.
  • The discussion will conclude with the panellist view of their own organisation top three “ data needs”.

Plenary 3:  What Information and Data are Available Right Now?

  • Dr Karl Braganza - Head of Climate Monitoring, Bureau of Meteorology 
  • John Clarke - Research Team Leader, Regional Projections – CSIRO
  • Chair: Tim Andrews – Director, Finity
A comprehensive range of climate data, information and guidance material are already out there and ready to use. In this session, John Clarke from CSIRO and Karl Braganza from the Bureau of Meteorology will shine a light on some of the key sources and how to use them.


Plenary 4:   Current and Future Information, Data and Models

  • Professor Andy Pitman – Professor in Climate Science, UNSW and Director, ARC Centre of Excellence for Climate Extremes

The available climate risk data has strengths and weaknesses depending on the planned use of the data. In this session, Andy Pitman from the Climate Change Research Centre will explain the strengths and weaknesses and describe the types of models and techniques that are being worked on to start to bridge the gaps in our knowledge. 

Supporting Partner


Andy Pitman

John Clarke

Dr Karl Braganza

Nick Wood

supporting partners


Keynote and Plenary Speakers