Hear from Gordon Bennett, Managing Director at ICE, as we dive into theory and practice of carbon pricing and its important role in driving the transition to net zero.

Carbon pricing is the poster child of market-based solutions to climate change. The principle is simple: by assigning a cost to greenhouse gas emissions, we incentivize polluters to emit less, and to do so in the most cost-effective way.

But there’s a significant gap between the theory and practice. Currently, only 24% of global emissions – about 12.8 gigatonnes – are covered by pricing mechanisms such as carbon taxes or cap-and-trade. On top of that, just half a gigatonne was traded in voluntary markets last year. Clearly, there’s still a long way to go. In this episode, we explore the carbon pricing gap, including:

• Why it exists, what’s needed to close it;
  
  
• The integrity challenges facing voluntary carbon markets, and how to address them;
  
  
• And how central counterparties can help drive the transition by ensuring transparent, reliable pricing.

To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

Links from today’s discussion:

• The World Bank’s Carbon Pricing Dashboard: https://carbonpricingdashboard.worldbank.org/
• Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA): https://www.icao.int/environmental-protection/CORSIA/Pages/default.aspx
• GARP Climate Risk Podcast with Simon Sharpe: https://www.garp.org/podcast/five-times-faster-cr-240321
• The Oxford Offsetting Principles: https://www.smithschool.ox.ac.uk/research/oxford-offsetting-principles
• GARP Climate Risk Podcast with Mark Campanale: https://www.garp.org/podcast/net-zero-supply-side-issues-cr-220303

Gordon Bennett, Managing Director of Utility Markets and Global Head of Environmental Markets, ICE

Gordon has been Managing Director at Intercontinental Exchange, Inc. (ICE) since February 2015. Mr. Bennett is responsible for the sales and business development of ICE’s global environmental portfolio, the world’s largest environmental marketplace.

He is a member of the Board of ICE Endex, ICE Futures Abu Dhabi, Spark Commodities and a member of the Strategic Advisory Board of BeZero Carbon. He contributes to a wide range of external environmental and energy market initiatives including a member of the Nature Based Solutions Taskforce of the Sustainable Markets Initiative, the Transition to Net Zero Working Group of the Climate Financial Risk Forum, the City of London VCM Steering Committee, the VCMI Stakeholder Forum, the Advisory Board of the University of Cambridge Energy Policy Research Group and was named Environmental Finance’s sustainable business leader of the year in 2022.

Prior to ICE, Gordon spent 12 years at the global energy broker, Spectron, joining as Group Financial Controller and latterly serving as Chief Executive Officer. He is a Fellow of the Institute of Chartered Accountants in England & Wales.

Hear from two leading experts, as we explore how insurance is adapting to climate change and the role of the industry beyond underwriting.

Insurance plays a critical role in protecting households and businesses from the impacts of climate change, and with physical risks on the rise, it will become ever more important. However, insurers have also been significantly impacted by these risks, with annual losses from natural catastrophes exceeding 100 billion dollars for four consecutive years.

The primary concern is that these physical risks eventually become uninsurable, as we are already seeing for example with wildfires in California, leaving communities without the very protection that they most need. In this episode, we explore how the insurance industry has and should respond to these challenges, including:

• How insurance modelling must evolve to better capture the physical risks from climate change;
• The role of insurers in helping clients and policymakers understand and prepare for physical climate risks; and
• Why adaptation is now a top priority for allowing insurance to be effective and help spread climate resilience across our society and economy.

To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

Annemarie Büttner, Lead Climate Risk Solutions, Swiss Re

Annemarie leads on corporate climate risk solutions at Swiss Re, helping companies identify, assess, reduce, and report the impacts of climate change to their businesses. She has 10-years’ experience focused on consulting and insurance, working on a range of topics including renewables, natural catastrophes, and parametric insurance.

Swenja Surminski, Managing Director Climate and Sustainability, Marsh McLennan

Swenja is the managing director of climate and sustainability at Marsh McLennan, as well as a Professor in Practice at the London School of Economics. In her career as an academic, Swenja researched climate risk management and resilience strategies, with a focus on public policies, financial instruments and individual behaviour. She has also held several advisory roles with corporates, regulatory authorities and governments, including the Bank of England and the World Bank.

Hear from Emma Howard Boyd CBE, Chair of the London Climate Resilience Review, as we dive into the challenges of climate adaptation and what it means for our cities.

2023 was not only the warmest year on record, it also marked the warmest 10-year period on record. As we witness first-hand the impacts of a warming climate, including heatwaves, more intense precipitation and increased flooding, the case for building resilience against these risks becomes ever more important. This is particularly so in our cities, where the concentration of populations and economic activity make adaptation non-negotiable.

This episode’s guest has recently led a comprehensive review of the Climate Resilience of London, which takes stock of the city’s preparedness for climate impacts and makes a series of recommendations for how the city needs to bolster its efforts. In this episode, we explore:

• How cities are vulnerable to cascading and interconnected risks, which amplify the impacts of climate change;
  
  
• How a collaborative approach to learning and building resilience will be critical in the years ahead;
  
  
• And how adaptation and resilience need to be woven through our all our decision making, while paying particular attention to the most vulnerable communities

To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

Links from today’s discussion:

• Read the final report of the London Climate Resilience Review: https://www.london.gov.uk/programmes-strategies/environment-and-climate-change/climate-change/climate-adaptation/london-climate-resilience-review
• C40 Cities Climate Leadership Group: https://www.c40.org/
• Thames Estuary 2100 Group report directory: https://www.gov.uk/government/collections/thames-estuary-2100-te2100

Emma Howard Boyd, Chair, London Climate Resilience Review

Emma has been the Chair of the London Climate Resilience Review, leading the delivery of its work since summer 2023. She has had an extensive career in financial services at the forefront of the climate change, environmental and sustainable finance agenda.

Emma is also currently Chair of ClientEarth and a Global Ambassador for Race to Zero and Race to Resilience, and outgoing Chair of the Green Finance Institute. She has been Chair of the Environment Agency and an ex-officio board member of the Department for Environment, Food and Rural Affairs from 2016 to 2022.

Emma serves on several boards and advisory committees which include The Major Projects Association, Climate Arc, and the European Climate Foundation. She was the UK Commissioner to the Global Commission on Adaptation from 2018 until its sunset in January 2021.

In this special episode, hear from Tony Rooke, Executive Director at Howden Group Holdings and Beth Gould Creller, GARP’s Sustainability & Climate Risk Program Lead, as they discuss the recent improvements to the SCR’s syllabus and learning experience.

Long-time listeners of the podcast will have noticed that we often mention GARP’s Sustainability & Climate Risk (SCR) Certificate. It’s a program that GARP launched in 2020, providing all the foundational knowledge you need to become a climate risk leader within your own firm.

This episode is a special one, as we bring you a conversation between Beth Gould Creller, who heads up GARP’s SCR team, and Tony Rooke, who alongside his role at Howden, is a member of the SCR Advisory Committee and long-time supporter of the program. You’ll learn about:

• The latest update to the SCR Curriculum, including new topics like nature risk and transition plans;
  
  
• The enhanced e-learning platform, including practical, hands-on modules;
  
  
• And testimonials from candidates on how the certificate has advanced their skills and careers.

The SCR certificate is not only an excellent opportunity to boost your knowledge, but it also connects you with a global community of climate risk experts, fostering collaboration and innovation. Register before 31st July to save USD $100. Follow this link to find out more: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

Tony Rooke, Executive Director and Head of Transition Advisory, Howden Group Holdings

Tony is Executive Director in the Climate Risk and Resilience team at Howden, and head of climate transition advisory. He helps organisations plan and achieve their climate goals, to identify and manage climate risks, and then optimise returns from their transition investments. ​

​Tony has over 25 years global experience in strategy advisory, risk management, disclosure and programme delivery, with over 18 years as a leader and expert in climate change, environment and sustainability issues affecting businesses and financial institutions. ​Prior to Howden, Tony was Head of Transition Finance and Transition Planning at the Glasgow Financial Alliance for Net Zero (GFANZ), Senior Director for Transition Risk at WTW, and Global Technical Director for the Carbon Disclosure Project (CDP), the world’s largest environmental disclosure platform. He has contributed to regulatory, policy and industry work including transition planning and transition finance standards (the UK’s Transition Planning Taskforce and GFANZ), the reporting standards (EU EFRAG, CDSB, CDP, TCFD), and strategic use of models, pathways and scenarios (International Energy Agency (IEA), NGFS, MPP, CFRF, GFANZ).

​Tony is a member of GARP and on Sustainability and Climate Risk (SCR) certification advisory committee. He is additionally a fellow of both the Institute of Environmental Management and Assessment (IEMA) and the Royal Society of Arts, Commerce and Manufacture (RSA).​

Beth Gould Creller, Sustainability & Climate Risk Program Lead, GARP

Beth manages GARP's Sustainability and Climate Risk Program. Prior to joining GARP, she was a risk professional in the upstream oil and gas industry. Working across multiple continents, her energy career spanned enterprise risk management, internal audit, business controls, supply chain process improvement, and governance.

Hear from Robin Millington, CEO of Planet Tracker, as we discuss how and why businesses should be thinking about their dependencies and impacts on nature.

Sustainability is a complex topic, and for a long time, climate has been at the heart of discussion. Other challenges like pollution and biodiversity loss have often been sidelined. Recently however, following the work of the TNFD and others, these issues have risen up the corporate agenda, within the wider context of our impact and dependency on nature.

Throughout her career, this guest has highlighted the importance of integrating nature into mainstream business. In this episode, we’ll explore:

• The urgent need to manage climate and nature risks holistically;
• How our failure to value natural capital correctly is pressurizing the global food system and other key sectors;
• And the role that financial markets have in creating a nature-positive future.

To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

Links from today’s discussion:

• Planet Tracker homepage: https://planet-tracker.org/
• Carbon Tracker homepage: https://carbontracker.org/
• The Financial Markets Roadmap for Transforming the Global Food System: https://planet-tracker.org/wp-content/uploads/2023/03/Financial-Markets-Roadmap-for-transforming-the-Global-Food-System.pdf

Robin Millington, CEO, Planet Tracker

Having dedicated nearly three decades to environmental causes including climate, biodiversity/nature and wetlands/water, Robin is an experienced senior director with an extensive track record including as a Director with the European Climate Foundation, Founding Director of Wetlands International and Managing Director of the Centre for European Policy Studies (CEPS) in Brussels. Previously she spent many years in the private sector both in consulting and in multinational work. She has an MBA from INSEAD and her BA from Stanford University.

She is currently a member of the Supervisory Board of the Capitals Coalition, was previously a member of the Supervisory Board of the Gold Standard Foundation and serves on various advisory committees.

Hear from Catherine Howarth OBE, CEO of ShareAction, as we dive into the world of shareholder activism and how it can be used to guide institutional investors towards sustainable behaviours.

Moving away from fossil fuels is unambiguously the most crucial step in the transition to a sustainable net-zero world. And yet, governments and institutional investors worldwide continue to heavily subsidise and invest in the fossil fuel industry. The longer we delay the transition, the greater the risks that we face. So, how can we break this cycle?

Today’s guest has been focused on this and other sustainability issues throughout her career. That’s why in this episode, we’ll be exploring her world of shareholder activism, discussing:

• The toolkit for influencing institutional investors, including naming and shaming the worst performers;
  
  
• The different challenges when engaging with banks, insurers, and asset managers;
  
  
• And how shareholder activism can go beyond climate to create a more sustainable future for us all.

To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

Links from today’s discussion:

• ShareAction’s homepage - https://shareaction.org/
• Living Wage Foundation’s homepage - https://www.livingwage.org.uk/
  

Catherine Howarth OBE, CEO of ShareAction

Catherine has been Chief Executive of ShareAction since July 2008. ShareAction is the leading civil society organisation in Europe promoting responsible investment, transparency and good governance by institutional investors. Catherine is a board member of the Scott Trust, owner of the Guardian Media Group, and a member of HM Treasury’s task force on asset management.

She was a Member Nominated Trustee of The Pensions Trust (the multi-employer pension scheme for the UK’s not-for-profit sector) for five years, where she served on the Investment Committee of this £7bn fund. In 2011, Catherine was named a ‘Rising Star of Corporate Governance’ by Yale University’s Millstein Center, and in 2014 she was recognised by the World Economic Forum as a Young Global Leader in 2014.

Catherine holds a First Class BA in Modern History from Oxford University and an MSc in Industrial Relations from the London School of Economics.