EFG Attends Summer School
EFG personnel participated in two climate change related events in recent months, which we would like to bring to our readers’ attention.
The Basque Center for Climate Change (BC3), hosted its 9th annual summer school in Bilbao, Spain. The theme for 2018 was “Climate Change in an Era of Uncertainty.” EFG co-founder David McSweeney attended to hear academics, scientists and economists present research on a variety of issues, ranging from the impact of climate change on water security and fresh water sources, to the impact on migratory wildlife in the Wadden Sea (Netherlands), to an analysis of regulatory policy incentives for renewable energy in Germany and Spain. The three day event provided valuable, thought provoking and timely updates on the evolving challenges that climate change presents to the global environment, as well as reflection on the consequences of policy interventions by government.
EFG co-founder Michele Aquino attended the Climate Reality Leadership Corps training in Los Angeles, California, hosted by former Vice-President, Albert Gore. The function of the Project is to train individuals to engage and mobilize communities across the world to take tangible actions to combat climate change.
The workshop illustrated how society has abused the atmosphere, turning it into a dumping ground for gaseous pollution without any restraint for far too long. However, it also provided a vista of progressive activities tackling climate change around the world. For example, during the seminar, California legislators voted on SB100, the State’s declaration to source 100% of electricity from renewable energy by 2050. This sets a standard for developed economies and an aspirational target for countries everywhere.
The common denominator of both events was the emphasis that climate change, and associated weather volatility, has real risk and implications for humanity, ecosystems and economies globally. Some of the less obvious consequences are an increased burden on public health services and costs, material damage to vital infrastructure, supply chain disruptions, societal dislocation and forced migration. Many parts of the world remain vulnerable and ill-equipped to cope with increasingly severe weather events, thus disproportionately affecting the least resilient populations and countries that struggle to finance climate adaptation measures.
For EFG, attending these events provided us with updated perspective on academic research, policy analysis and information on private-sector actions to mitigate climate risk. EFG incorporates climate risk into our work with clients. We believe there is a direct correlation here with operational risk and financial risk. We believe economic growth and environmental considerations are not mutually exclusive. We are excited to work on solutions that help people, organizations and ecosystems around the globe.
A video worthy of your time: THE CASE FOR OPTIMISM ON CLIMATE CHANGE [25 minutes, by Mr. Al Gore].