20:20 Visions - Climate Stewardship

The City of Sydney launched its C40 Women4Climate Mentorship Program in May, with Mayor Clover Moore stating “Climate action is the City of Sydney’s top priority”, as reflected in the City’s 2030 Strategy and Climate Emergency declaration.

Ahead of the Global Climate Strike called for 20 September, the program’s 20 mentees are taking this opportunity to share the vision for each of their projects, and their view on climate activism. The outcomes of their projects will be presented at the global Women4Climate Conference in Sydney in March 2020.

Komal Jalan is a Senior Investment Stewardship Analyst at the New South Wales Treasury Corporation

 

Climate Stewardship

MY VISION

Finance fuels climate’ - with that belief, I am deeply motivated and committed to lead the financial services industry’s understanding of two key issues:
(a) climate risk equals financial risk: from countries to businesses to individuals, climate change will trigger substantial socio-economic impacts, which threaten to jeopardise the stability of financial markets.
(b) we as financial services industry have great power to influence an orderly transition to a low carbon economy: the investments we make today will shape the societies in which we live out in the future. And so, through climate awareness and action, investors have the opportunity to create a long lasting sustainable environment in which we live and retire.

MY PROJECT

I am working to contribute to the development of a climate risk assessment framework for TCorp’s investment portfolios and across asset classes. Activities undertaken to assess and manage climate impact on portfolios may include but is not limited to:

  1. Understanding the climate change and carbon management strategies of any carbon intensive exposures in the portfolio, and their potential to reduce emissions;

  2. Analysing the resilience of any real assets given the anticipated physical impacts of climate change including acute or severe weather incidence;

  3. Considering the energy, water and waste efficiency of assets in the portfolio;

  4. Assessing the viability and valuation of fossil fuel reserves, given the transition to a low carbon economy (e.g. stranded assets risk); and

  5. Scenario analysis assessing the impact on assets under various climate scenarios.

THE IMPORTANCE OF CITIES

Cities reflect the values its people embrace and are shaped by the capital that we collectively provide. Awareness and action on climate will be key to building the resilience and adaptability of our cities. We all play a unique role in this ecosystem and so my commitment is to sincerely contribute to the sustainable future of New South Wales.

 

“If not you, then who? If not now, then when?”