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Summary
Climate change has become an important strategic issue for global financial institutions as concern grows about lending to, investing in, or insuring companies that are failing to take steps to transition to a low-carbon economy. Stress testing aims to address several key areas for banks and insurers, including asset level counterparty modelling and the financial impact on loan and investment portfolios.
Join S&P Global Sustainable1 for the next episode in our 'Beyond ESG' webinar series to discover the critical practical steps banks and insurers need to take to explore the two key risks arising from climate change, according to the Bank of England framework:
- Transiton risk: the risks arising from the significant structural changes to the economy needed to achieve net zero emissions
- Physical risk: the risks associated with higher global temperatures
S&P Global Sustainable1's 'Beyond ESG' webinar series focuses on providing corporate and investors with the tools and insights they need when building and refining their ESG playbooks. Featuring interviews and discussions with experts, decision-makers, and visionaries in the ESG community, these webinars will go beyond ratings and scores to help see the possibilities in building a sustainable future while meeting the expectations of an evolving market.
Moderator
S&P Global Market Intelligence
Lynn Bachstetter
Global Head of Cross Product Market Development
Lynn Bachstetter is Global Head of Cross Product Market Development at S&P Global Market Intelligence.
Lynn Bachstetter is Global Head of Cross Product Market Development at S&P Global Market Intelligence. In this role, Lynn helps oversee the operational and strategic management of the Insurance Group. The Insurance Group is responsible for delivering company-specific and sector information to 2,000+ clients, including investment banks, asset management firms, global and regional insurance companies, brokers, consultants and accounting firms. Prior to joining the firm in 2008, Lynn was a credit ratings analyst with Fitch Ratings covering insurance companies. Lynn holds a Bachelor of Science in Business Administration degree from Villanova University.
Speakers
S&P Global Market Intelligence
Giorgio Baldassarri
PhD, Global Head, Analytical Development Group
Giorgio leads the Analytical Development Group, part of S&P Global Market Intelligence’s Credit Risk Solutions.
Giorgio leads the Analytical Development Group, part of S&P Global Market Intelligence’s Credit Risk Solutions. His team includes highly-skilled individuals with multiple qualifications in the financial and quantitative space (FRM, CFA, PhD) and develops all credit risk statistical models that power the Credit Analytics product.
Giorgio’s team developed several statistical models to assess credit risk of public and private companies, more recently including a trade-payment model that was used to succesfully monitor payment behaviour of SMEs during the 2020 pandemic.
On the climate-change front, Giorgio’s team developed two statistical models that estimate the financial and credit risk impact of energy transition scenarios on public and private firms:
- Climate Credit Analytics, developed with Oliver Wyman, offers a sector-specific, bottom-up approach for companies operating in carbon-intensive sectors.
- Climate Risk Gauge, developed internally, offers a consistent and scalable view across all industry sectors.
Giorgio regularly speaks at international credit risk conferences, webinars and events (RiskMinds, RISK EMEA, IECA). More recently, he authored a paper in the Journal of Energy Markets on the credit risk implications of various carbon tax scenarios (Journal of Energy Markets, Vol 13, number 2, pages: 1-24, June 2020) and spoke at several conferences (IRMC 2020, EDHEC 2020), panel discussions (“Navigating climate risk as a financial risk”) and webinars (“Tackling climate change for banks: the culture, the data and the analytics”) on banks’ challenges to implement climate-related stress testing scenarios, climate-related scenario analysis and credit risk assessment in TCFD reporting, and impact of various carbon tax policies on public companies credit-worthiness.
S&P Global Sustainable1
Steven Bullock
Managing Director, Global Head of Research and Methodology
Steve leads the Research and Methodology Team at S&P Global Horizons developing the methodologies that underpin S&P Global’s suite of sustainability-related datasets and analytical solutions that power the transition to a more sustainable future.
Steve leads the Research and Methodology Team at S&P Global Horizons developing the methodologies underpinning S&P Global’s suite of sustainability-related datasets and analytical solutions that power the transition to a more sustainable future. This includes the S&P Global ESG Scores based on data collected via the S&P Global Corporate Sustainability Assessment (CSA) and S&P Global’s range of environmental, climate and nature, and regulatory and reporting capabilities.
As Global Head of Research and Methodology, Steve has successfully overseen the development of numerous groundbreaking sustainability-related products, including datasets focused on climate transition and physical risk, nature risk and biodiversity, and regulatory reporting such as the EU Taxonomy and SFDR.
With over 15 years’ of industry experience, Steve is a regular speaker and commentator on sustainable finance issues globally.
Contact Us
If you have more questions, please feel free to contact our team.