EU-MACS Coordinator: Prof. Adriaan Perrels, forename.surname@fmi.fi

Help us to improve climate services provision – give feedback in our survey!

Has your organisation been using or is it using climate services? Please give us feedback on the experiences with acquiring and using climate services. FILL IN THE SURVEY HERE – available in English, Finnish, German, and Spanish. Your feedback will greatly help this study. The results and analysis of the survey will be included in the Deliverable reports of Work Package 1 due in June 2017.

The financial sector performs better with climate services

The financial services sector has an increasing need to improve its understanding of how climate change risks and opportunities affect investments, for example, changes in productivity as a result of climate impacts may influence asset value. Insurance on the other hand is not only interested in changing risk levels, but also in opportunities for new risk sharing mechanisms.

In the financial sector, re-insurers and development banks (e.g. World Bank; IBRD) have already built up experience with the use of a large array of climate services (CS). Yet for most of the financial sector, e.g. commercial banks, equity funds, other private investment firms, and pension funds, the use of CS and interest in climate change impacts in general is a quite recent phenomenon. As such, there is significant potential for CS to support financial institutions that are only now starting to consider the integration of climate risks into their risk management processes and strategies.

Engaging stakeholders – Mutual benefits

Engaging with stakeholders of the financial sector will be essential to understand if and how the sector uses CS, how it acquires them, and if the current supply of CS products is appropriate for the sector.
Stakeholders who decide to participate in the workshops of this work package will benefit significantly by gaining a better understanding of the CS market and how it can inform their work.
Stakeholders are expected to be engaged over a period from March to October 2017.

Outputs

Reports
  • Report on the results of explorations of climate services market development in finance sector – To be expected in March 2018
Protocols
  • Engagement protocols with the purpose of eliciting market development ideas and actions in the finance sector – To be expected in March 2018
Policy Briefs
  • Options for climate services market enhancement and related innovations for the financial sector – To be expected in May 2018
Articles
Brochures & Leaflets

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