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Climate change – will it trigger the next financial crisis?

World Economic Forum Annual Meeting of New Champions 2019

Hundreds of world leaders from different parts of society are gathering at the World Economic Forum's Annual Meeting for New Champions in Dalian, China, from July 1-3, 2019. The main theme to be discussed is Leadership 4.0: Succeeding in a New Era of Globalization.

So what does that mean? While technological developments are spinning faster and faster, a greater threat is looming, namely climate change. What happens if we can't get our act together to tackle the intensifying weather impacts? Is there anything we can do to accelerate the impetus for industrial and lifestyle changes that need to happen?

Many of the technological solutions are already there, but is the will and the leadership? What will be expected of leaders, and what tools can be provided to accelerate material change?

Swiss Re will be discussing aspects of that challenge in two different panel debates, and arguing why, in addition to conscious resilience strategies; strong partnership between the public and private sectors; and technology; widespread introduction of sustainable investment approaches like ESG will be crucial. ESG refers to environmental, social and governance, the three central factors in measuring the sustainability and ethical impact of an investment in a company or business.

This is further elaborated in Veronica Scotti's blog on the WEF Agenda: How cities can become more resilient to climate change.

Greening China's Belt and Road Initiative (Monday 1 July, 15:30 - 16:30 local time)

Dalian International Conference Center, Salon

Jerome Haegeli, Chief Economist, Swiss Re

Context: China pledged to incorporate green strategies and objectives into the Belt and Road Initiative, which involves a large number of infrastructure projects covering the world's fastest-growing economies. How can the grand development plan become a global driver of green innovation and environmental reform?

Access the session using following link:

https://www.weforum.org/events/annual-meeting-of-the-new-champions-2019/sessions/greening-chinas-belt-and-road-initiative

Climate Change: The Next Financial Crisis? (Tuesday 2 July, 09:00 - 10:00 local time)

Dalian International Conference Center, Studio

Veronica Scotti, Chairperson, Public Sector Solutions, Swiss Re

Context: Climate inaction risks $23 trillion of global economic losses a year, amounting to permanent economic damage four times greater than the impact of the 2008 financial crisis. What does financial leadership entail as we stand at the brink of climate calamity.

Don't miss Veronica Scotti's blog published on the WEF Agenda: How cities can become more resilient to climate change

Access the session using following link:

https://www.weforum.org/events/annual-meeting-of-the-new-champions-2019/sessions/climate-change-the-next-financial-crisis

Swiss Re speakers