Climate Risk Management with BDO

Despite all the focus on COVID-19 this year, climate change and broader environmental, social and governance (ESG) matters remain a top priority for UK regulators. While some firms have been considering climate change risks to their business models for some time, regulators are now encouraging all firms to develop frameworks to enable them to explicitly consider these risks when setting strategy and making decisions. A recommended methodology for quantifying financial risks from climate change and undertaking specific scenario analysis is now emerging. Firms should take action now to not only meet regulatory expectations, but also to identify potential opportunities. Firms that fail to adapt to this new approach and identify opportunities could struggle to remain competitive.

Whilst for long term credit and investment firms the impacts are pretty clear, for brokers they are not so obvious. Nevertheless, the disruption to markets arising from transitional impacts will generate both risks and opportunities and the expectations will be no less than for other FCA regulated firms.

Richard Weighell, Claire Rafferty and Adam Soilleux, of BDO Ltd, will lead the discussion, the agenda for which will be:

• Legal and regulatory background to climate risk management
• Industry initiatives and frameworks
• Impact of climate change on brokerage firms’ business models
• Regulatory expectations
• Considerations for the next 12-18 months

If you would like to attend this video conference round table, please email: events@thebrokerclub.org