Events The NGFS organises a launch event in Paris for the release of its Conceptual Framework for nature-related financial risks

The NGFS released its Conceptual Framework for nature-related financial risks to guide policies and action by central banks and financial supervisors at a high-level launch event on September 7 at the Banque de France Headquarters in Paris. The launch event seeks to highlight the NGFS’ work on this new frontier.

High-level speakers include: François Villeroy de Galhau, Governor of the Banque de France; Klaas Knot, President of De Nederlandsche Bank; Frank Elderson, Member of the Executive Board of the European Central Bank; Professor Johan Rockström, Director of the Potsdam Institute for Climate Impact Research. 

More details can be found in the agenda below.

Overview of the Conceptual Framework

The NGFS Conceptual Framework marks a new milestone in the NGFS’ efforts to help mainstream the consideration of nature-related risks. As the importance of the twin crisis of environmental degradation and climate change gains increasing global recognition, the NGFS has been leading work to help central banks and supervisors grapple with the implications of these issues for the financial sector.

Ravi Menon, Chair of the NGFS and Managing Director of the Monetary Authority of Singapore:

“Along with the climate crisis, the degradation of nature is an existential threat facing our planet. Addressing nature-related risks and its broader implications for the financial sector is no longer just prudent – it is an imperative. Finance can be a powerful force for helping to bend the curve of nature degradation.  The Conceptual Framework published by the NGFS today offers a common approach for central banks and supervisors as they assess and act on these risks.”

The new Framework provides a common language to the financial system and guides action by central banks and financial supervisors. It creates a shared science-based understanding of nature-related financial risks and helps central banks and financial supervisors navigate the complexities and challenges associated with assessing and addressing these risks. The aim is to provide greater clarity on the meaning of key concepts and the way these interrelate, and set out a principle-based approach to help operationalise that conceptual understanding.

The new publication builds on previous work by the joint NGFS-INSPIRE Study Group on Biodiversity and Financial Stability, the Conceptual Framework charts an important step towards an integrated assessment of climate and broader nature-related risks. 

Event agenda

08:30 – 09:00.

Registration and welcome coffee

09:00 – 09:30. Introduction and welcome remarks by the Governor of the Banque de France, François Villeroy de Galhau, and the President of De Nederlandsche Bank and Chair of the Financial Stability Board, Klaas Knot

09:30 – 09:50. Keynote address by Professor Johan Rockström, Director of the Potsdam Institute for Climate Impact Research

09:50 – 10:20. Presentation of the NGFS Conceptual Framework by Team Lead, Sjoerd van der Zwaag, Senior Sustainable Finance Officer, De Nederlandsche Bank

10:20 – 10:40.

Coffee break

10:40 – 11:00. Fireside chat between Frank Elderson, Member of the European Central Bank’s Executive Board, and Jean Boissinot, Head of the NGFS Secretariat

11:00 – 12:15. Panel discussion on the Conceptual Framework and next steps for the TF Nature

• Speakers:
  • Satoshi Ikeda, Chief Sustainable Finance Officer, Japan Financial Services Agency
  • Serafín Martinez Jaramillo, Senior Economist, Banco de Mexico
  • Konstantin Makrelov, Lead Economist, South African Reserve Bank
  • Sebastian Schütz, Head of Sustainability, Deutsche Bundesbank
• Moderator: Marc Reinke, Head of Sustainable Finance Officer, De Nederlandsche Bank, NGFS Taskforce on Nature-related Financial Risks and Biodiversity-loss Co-Chair

12:15 – 12:30. Closing remarks by NGFS Taskforce on Nature-related Financial Risks and Biodiversity-loss Co-Chair, Emmanuelle Assouan, Director General, Financial Stability and Operations, Chair of the Banque de France Climate Change Centre

12:30

Lunch – Vegetarian Buffet