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Summary
High Inflation and increasing interest rates are putting a strain on emerging markets globally. At the same time, many developing countries are seeing the impacts of physical climate risks play out, with Multilateral Development Banks (MDBs) facing calls to ramp up their climate finance commitments. Is this significant shift leading to a different risk profile for the banks?
Placing a spotlight on the realities and experiences of the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB), in this webinar, we seek to consider the current challenges and solutions in managing climate risk within development finance. Topics will include:
- Technical challenges in climate risk assessment, in general, and in developing countries in particular and the solutions required to address them.
- The role data providers can play in enhancing and further supporting risk management and mitigation activities.
Speakers
S&P Global Ratings
Paul Munday, Ph.D.
S&P Global Ratings
Global Climate Adaptation & Resilience Specialist
Paul Munday is a Director, Global Climate Adaptation & Resilience Specialist at S&P Global Ratings, where he leads and coordinates S&P Global Ratings’ research and application of climate adaptation and resilience analytics. He works at the interface between data and research, leveraging his expertise to help improve clarity of the credit impacts from climate risks.
Paul Munday is a Director, Global Climate Adaptation & Resilience Specialist at S&P Global Ratings, where he leads and coordinates S&P Global Ratings’ research and application of climate adaptation and resilience analytics. He works at the interface between data and research, leveraging his expertise to help improve clarity of the credit impacts from climate risks.
Paul has over 10 years of experience in both the UK and abroad, providing advice to private and public sector clients across multiple sectors to help mainstream consideration of climate resilience into projects and programmes. Prior to joining S&P Global Ratings, Paul worked in climate risk consultancy.
He is a Chartered Scientist, Chartered Water and Environment Manager and certified expert in climate adaptation finance by the Frankfurt School of Finance & Management.
Effy Ritter
EBRD
Leads the Climate Risk team
Effy Ritter formed and currently leads the climate risk team at the EBRD. An experienced finance professional with over 20 years’ experience having worked in several global investment banks, she brings deep expertise in credit risk and front-line banking.
Effy Ritter formed and currently leads the climate risk team at the EBRD. An experienced finance professional with over 20 years’ experience having worked in several global investment banks, she brings deep expertise in credit risk and front-line banking.
Under her leadership, the EBRD has published three annual TCFD reports. The latest, showing more detailed metrics and targets including coal and oil exposures, labelled bonds and green finance targets.
Her team is responsible for establishing and driving the implementation of climate financial risk methodologies assessing both physical and carbon transition risk.
A strong believer in transparency, she formed the joint MDB TCFD working group to promote collaboration and sharing of ideas among multilateral development banks.
Based in at the EBRD headquarters in London she has an M.A from Brandies university in Massachusetts.
Shirley Rizk
EIB Credit and Climate Risk Department
Head of the Climate-related and Environmental Risks Unit
Shirley is the Head of the Climate-related and Environmental Risks Unit in EIB Credit and Climate Risk Department. Her team is responsible for the development of models, methodologies and policies allowing to integrate climate and environmental considerations into the Bank’s risk frameworks.
Shirley is the Head of the Climate-related and Environmental Risks Unit in EIB Credit and Climate Risk Department. Her team is responsible for the development of models, methodologies and policies allowing to integrate climate and environmental considerations into the Bank’s risk frameworks.
With a strong interest for development, Shirley started her career in BNP Paribas doing structured finance in emerging markets before joining EIB, where she first focused on restructuring of project finance operations outside the European Union (mostly Africa and MENA region). She then moved to the Risk Management department, where she initially dealt with equity operations, before entirely focusing on climate risk and developing the first climate risk scoring models.
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