Announcing the Baltimore Forum on Climate Linked Economics
In January 2024 hosted by the AMS Annual Meeting
Hi Everyone…
It gives me great pleasure to announce our next in-person (and virtual) Forum on Climate Linked Economics!! We will convene in Baltimore, MD as part of the 2024 AMS Annual Meeting in late January.
We plan an exciting group of keynotes as well as panel discussions featuring scientists and practitioners focused on linking weather and climate to economic and business decision-making.
We also invite YOU to the stage to present YOUR work!
What’s this all about?
The Baltimore Forum on Climate Linked Economics, sponsored by the American Meteorological Society and organized by the AMS Committee on Financial Weather and Climate Risk Management, will be part of the 104th AMS Annual Meeting to be held 28 January through 1 February 2024 in Baltimore, Maryland.
The Forum on Climate Linked Economics is an ongoing joint initiative across the American Meteorological Society (AMS) to create a link between the meteorology/climate communities and the broader community of economists, corporate executives, risk managers, financial planners, insurance professionals, technology leaders, and policymakers.
The distribution of extreme weather events is changing due to climate change. Extreme weather is linked to rising insurance premiums, disruptions in global supply chains, and many other economic disruptions around the world. Entrepreneurs, industry leaders, and policymakers are developing innovative strategies and best practices that not only protect the environment but also improve business resilience and unlock new financial opportunities.
What will we discuss?
We are soliciting Papers, Panel Discussions, Keynote Presentations, Stakeholder Engagement Sessions, and Posters.
We invite a broad group of stakeholders to participate from the public and private sectors, and we welcome robust participation from undergraduate and graduate students.
Topics include:
Climate/Economic Risk Assessments: The financial impacts linked to a changing climate ripple across multiple financial sectors. We will discuss the economic consequences of climate change, ranging from direct physical impacts to cascading effects across various sectors. Submissions are encouraged to demonstrate data-driven analysis and empirical studies of economic risks associated with climate change.
Financial Risk Transfer: We will discuss various financial risk transfer mechanisms employed to manage extreme weather and climate-related risks. We encourage submissions that explore instruments such as insurance, reinsurance, weather derivatives, catastrophe bonds, and other innovative financial tools that facilitate the transfer of weather and climate risks.
Entrepreneurship and Innovation: The forum will feature discussions with entrepreneurs, venture capitalists, and private equity investors who have harnessed the power of investments to address the impact of extreme weather and climate shifts. We also encourage submissions that demonstrate and discuss the public sector’s role in seeding and nurturing early stage private-sector innovation. Public-private partnerships are also encouraged to share their stories.
Infrastructure and Societal Investments: Infrastructure investments must be resilient and require substantial capital. Submissions are encouraged to address the challenges and opportunities for climate-resilient infrastructure projects. Societal investment horizons that address extreme weather and climate risk involve long-term strategies and initiatives aimed at mitigating and adapting to the impacts of climate change. These investments recognize shifting frequency and severity of extreme weather events and seek to build resilience in communities, infrastructure, and ecosystems.
Business Operations: Many businesses are vulnerable to extreme weather and climate-related disruptions, affecting business continuity and financial performance. Submissions are encouraged to explore strategies for building business operations that are resilient to the impacts of extreme weather.
Reporting, Regulation, and Government Intervention: We will discuss the latest developments in reporting and regulatory requirements. For example, in 2022, the U.S. Securities and Exchange Commission (SEC) published a proposed rule requiring publicly traded companies to step up their reporting to require information about climate-related risks that are reasonably likely to have a material impact on the business, results of operations, or financial condition. Specifically, the SEC is proposing that regulated companies must report impacts from severe weather events on consolidated financial statements.
Managing Systemic Risk: Systemic risk refers to the potential for disruptions or failures within a system, such as an economy or financial market, to spread and impact the entire system. Climate change presents profound risks to global financial stability. The transition to a low-carbon economy brings both challenges and opportunities. The forum will explore the systemic risks and potential economic impacts associated with this transition. Addressing systemic risks requires effective policy and governance responses at national and international levels. The forum will highlight key policy frameworks and explore their role in mitigating systemic risks.
Sessions will range in length from 15-minute oral presentations to 60-minute keynote presentations to 90-minute panel discussions and stakeholder sessions. Submissions for poster presentations are also encouraged!
Lead the discussion on:
Foundational datasets for financial analysis in weather/climate
Best practices for expert consultation, risk assessments, and GHG accounting
Frameworks and modeling techniques for risk assessment
Scenario planning leveraging risk assessments
Assessing and Addressing Systemic Financial Risk
Insurance/Reinsurance for financial risk transfer
Catastrophe Bonds and Insurance Linked Securities for financial risk transfer
Weather Derivatives for financial risk transfer
AI Applications for Financial Management in Weather/Climate
Venture Capital and Private Equity Investing
Impact Investing and Sustainability Ventures
The “Climate Tech” sector (including initiatives for carbon capture/mitigation and net-zero)
Environmental, social, and governance (ESG) topics such as impact measurement, reporting standards, and responsible investment practices.
Catalyzing Innovation and Entrepreneurship
Public-private partnerships
Residential/Commercial Land Development
Financial Risk Management in the Public Sector
Strategies for Economic Resilience in Water Management
Extreme Weather and Climate Resilience for Agriculture Operations
Extreme Weather and Climate Resilience for Energy Operations
Extreme Weather and Climate Resilience for Supply Chain Operations
Lending and Financial-Sector Operations
Operational Decision-Making for Small and Large Business
Financial Impacts from Extreme Weather
Initiatives from the Securities and Exchange Commission (SEC)
Initiatives from the Taskforce on Climate-Related Financial Disclosures (TCFD)
Initiatives from the United States Treasury
Initiatives from NOAA
Initiatives from the United States Patent Office
Initiatives from the NSF
More information at the link below:
Why are we doing this?
The Forum on Climate Linked Economics is focused on developing relationships across various industries, discussing standardized approaches for managing the risk of climate change within multiple industries and across many types of businesses.
We are aiming to create relationships that drive collaboration between scientists and practitioners. We are linking climate, the economy, and business operations. Connections between leaders within the weather /climate community to senior executives and managers from organizations focused on TCFD, SEC, Treasury, and other climate-linked regulation. We also strive to connect forward-thinking business operators who know they are facing climate-linked business decisions but currently have little (or no) exposure to the scientific community.
More information to follow!!