SIF 2023: Climate crisis highlights need to 'transition and mitigate risk'

Transition is ‘different for everyone’

The climate crisis is “ongoing” so the industry needs to “transition and mitigate risks”, delegates at the Sustainable Investment Festival 2023 heard.

Speaking during a panel, UN Environment Programme finance initiative social lead Joana Pedro said: "We are in a climate crisis, and seeing extreme events happening more and more so we need to transition and mitigate the risks." She noted the ‘just' transition "comes with risks for business as well as people and communities" and while there will initially be a loss of jobs with the transition, "there will also be an opportunity for jobs". Pedro argued the ‘just' transition is "not about delaying", and if schemes do not transition, "this will also lead to impacts on people and communiti...