Climate and Environmental Risks in Financial Institutions
These two back-to-back webinars will look into how climate and environmental risks can be integrated into the prudential regulatory framework and how to supervise them
About these learning events
Climate and environmental risks are increasingly materializing and affecting the economies and financial systems across the globe. We hear strong public concerns and rising expectations that these risks are addressed by and across all institutions that can contribute to improvements.
From this perspective, the institutions in charge of safeguarding the stability of the financial systems and implementing prudential supervision can have a very relevant and powerful role especially in ensuring proper policies and practices that could explore the exposure to the risks, evaluate the risk impacts in various scenarios, strengthen the resilience to shocks, protect the assets and liabilities, etc.
Although with a high potential for impact, this aspect of ensuring financial stability and prudential financial and non-financial supervision is still considered an emerging topic, and we see only some standards for addressing it, especially in the legislation. Yet, there are many global “first steps”, guidelines, and good practices to understand and share so that context-specific actions can be more vigorously introduced.
In that light, at these two back-to-back webinars, we will be gathering experts working on financial stability as well as supervisors of banking and non-banking sectors and jointly we will:
- Understand the climate and environmental risks and their potential impact on the financial system and the economy
- See key factors in maintaining the stability of the financial systems under environmental and climate risks
- Discuss the role of the regulators in climate and environmental risk management
- Learn about the latest steps in addressing this issue by the European Central Bank and some national banks
- Compare approaches in banking as well as non-banking financial sectors
- Learn about the current regional practices in South East Europe and the plans of the regulatory and supervisory authorities
Officials working on banking and non-banking regulation and supervision at central banks and financial supervisory authorities
This learning event will be delivered by:
- Giuseppe Barillà is the Deputy Head of the Climate Change Centre of the European Central Bank, a new unit in charge of shaping and coordinating the ECB’s climate agenda and bringing together the work on climate issues in different parts of the bank. Prior to this position Giuseppe held different professional and managerial roles in banking supervision at the ECB and Banca d'Italia and worked as legal adviser at the Italian Ministry of Economy and Finance. Giuseppe holds a PhD in Banking and Financial Law and a Master degree in Law and Economics from the University of Siena, and also a Master degree in Law from the University of Rome Luiss Guido Carli.
- Pierre Monnin is a Senior Fellow at the Council on Economic Policies (CEP) and a Visiting Professor in Practice at the Grantham Research Institute on Climate Change and the Environment in the London School of Economics and Political Science. His work focuses on monetary policy, financial regulation, and their links with environmental and social sustainability. Prior to that, he was with the Swiss National Bank (SNB) in various roles for ten years – with a focus on financial stability and macroprudential policy as well as on financial markets developments. He holds a PhD in Economics from the University of Zurich, a MSc in Economics from Queen Mary, University of London, as well as a MSc in Statistics and a BA in Economics from the University of Neuchatel
- Margerita Topalli is a Senior Economist at Bank of Albania, with a track record in managing and implementing projects related to social infrastructure, sustainability and economic development, economic transition. Prior to that she has been working for the Council of Europe Development Bank in Paris. She is an active consultant for various economic or sustainability topics for various international organizations, development agencies, and NGOs. She also is a published author writing on issues related to political developments in South-East Europe and the integration of the Western Balkans in the EU. Margerita holds a PhD in Transition economics from the University of Lorraine, as well as a MSc in Development Economics from Paris Dauphine University, France
- Chiara Colesanti Senni is a fellow with the Council on Economic Policies (CEP) and a Post Doctoral researcher at the University of Zürich. She works on the risks posed by environmental degradation to the economy accounting for indirect effects and through scenario analysis. Moreover she looks at the consequences of these risks for monetary policy and financial supervision. She is also co-founder of the Sustainable Macro research network, a platform which helps the development of new policy relevant research projects. Prior to that she did her PhD in Resource Economics at ETH Zurich. During this time she focused on the transition to a low-carbon economy, including the possibility for central banks to adopt emission-based interest rates in their lending facilities. Chiara holds a MSc in Economics from the University of Bologna, as well as a BA in Economic Development from the University of Florence
- Marko Bračković is a consultant analyst in the Systemic Supervision and Prudential Regulation at Banka Slovenije. His main areas of interest are stress testing (hybrid bottom-up approach). Prior to working in the Supervision Directorate, he worked at NLB Vita and NLB as a risk analyst, specializing in market and credit risks. He holds a Masters degree in Economics and Financial Economics
- Ionuț Cosmin Lungu is Regulated Markets Senior Expert at Issuers Transparency and Reporting Unit, Financial Instruments and Investments Sector within Romanian Financial Supervisory Authority (ASF Romania). Cosmin is responsible for reviewing periodic reports (financial and sustainability reports) of the issuers listed on the Romanian Regulated Market and also of the issuers listed on Multilateral Trading Systems. Cosmin is a Certified Public Accountant and Certified Financial Auditor and member in the ESMA Financial Reporting Working Group part of Issuers Standing Committee. He holds a PhD in Accounting, a MSc in Banking Risk Management and a BA in International Business and Economics.
- Ioana Alexandra Radu is a Risk Management Specialist in the Prudential Supervision Unit, Financial Investments and Instruments Sector of the Financial Supervisory Authority (ASF). Her work focuses on the supervision of investment funds in the area of risk management, including ESG – related risks. She participates as an expert from ASF to ESMA IMSC - Investment Management Standing Committee, ESMA SSC – Sustainability Standing Committee, IOSCO C5 - Committee on Investment Management and NGFS – Network for greening the financial system. She holds a PhD in Economics from the Bucharest University of Economic Studies, as well as a MSc in Risk management and a BA in International Business and Economics from the same University.
For all the necessary information please read the General Information on Learning at CEF.
This learning initiative was supported by: