My role is Director of the Centre for Sustainable Finance at the Cambridge Institute for Sustainability Leadership (CISL). I work with the finance industry to embed sustainability into decision-making and to rewire the system.
2023 has been a record-breaking year in terms of temperature rise, ocean warming, wildfires and pretty much every other weather event the world over. Various climate attribution reports show that climate change had a guiding hand in making these events more frequent and more intense. Yet, the climate modelling used to plan for and finance adaptation to a warmer world has failed to keep up.
Climate modelling uses averages that are now out-of-date given that climate change is already happening. Extreme flooding used to happen every 1 in 100 years, now it happens every five years. Meanwhile, both the EEA and the Scorpion reports suggest more attention should be paid to ‘cascading’ and ‘systemic’ effects, whereby a change in the world’s natural or economic systems may have a knock-on impact elsewhere — not for nothing is climate change known as a threat multiplier.
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