Climate Change and the Financial Services Industry – Module 1: Threats and Opportunities

This policy document presents the first part of a two-phase study on the financial services sector and climate change commissioned by the UNEP FI Climate Change Working Group. In particular, the report discusses the underlying reasons why climate change is relevant to the financial services industry and the need for long-term, ‘beyond-Kyoto’market-based frameworks for fostering finance sector participation. Part 1 presents an overview of the specific threats and opportunities facing the financial services industry and makes a series of strategic recommendations to policymakers and financial institutions for early action on the issue.