Episode 73: Climate Finance
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Looking Outside is for curious people looking for a fresh take on familiar topics, in business and beyond.
After 200 years of rapid growth, we’re seeing the consequences of putting the planet to the limits of habitability. But with future endless growth goals, and finite resources it’s time we get climate action into the P&L. On this episode of Looking Outside, we’re talking about sizing the impact of climate change, with climate and sustainability leader, David Carlin. David shares how climate finance is a fast growing area that captures the downside of climate inaction as well as the upside in climate solutions, in a way that’s mobilizing change across industries and economic ecosystems. But, David warns, the financials are not the problem, nor is accounting the complete solution, and a path forward needs to capture what we can’t size or even know, including our moral imperative to change.
To look outside, David first concedes that he doesn’t know everything. While in the climate space he is considered an expert, he admits it’s just by being ‘30 mins’ ahead. To get a fresh perspective, David tries to stay in motion, emotionally and intellectually. He writes and records voice notes to work over problems in a ‘gentle way’ versus staring them down. He says its important to allow yourself to be changed by what you see and learn, and approach life like a scientist, always willing to adjust your worldview.
David Carlin is an acknowledged authority on climate change and its implications for the financial system. He is the founder of D. A. Carlin and Company, an advisor to governments, corporates, and financial institutions on climate and ESG topics. He has authored numerous reports that provide practical tools for financial actors looking to address climate change and has run capacity-building programs for financial institutions and supervisors around the world.
David led the creation of UN Environment Programme’s- Finance Initiative (UNEP FI)’s Risk Centre as the head of Risk. Over the past years, he has worked with over 100 global banks, investors, and insurers on climate scenarios, climate risk assessments, and climate governance.
He has been an advisor to UNEP FI’s TNFD pilot program on nature and biodiversity related risks, the Net-Zero Banking Alliance (NZBA), and the Glasgow Financial Alliances for Net Zero (GFANZ). David is also a contributor to Forbes and a senior associate at Cambridge’s Institute for Sustainability Leadership (CISL) as well as a visiting fellow at King’s College London.
David has worked as a Principal in Finance, Risk, and Public Policy for Oliver Wyman and in Model Risk Management for PNC Bank. His background is in quantitative modeling and decision science.
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