RISE Roundtable: How cross-industry collaboration between Multilateral Development Banks (MBDs) can help them better navigate the impact of Climate Risk
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Summary
CRISIL’s (an S&P Global Company) RISE ecosystem, hosted a virtual roundtable to discuss how MDBs can benefit from collaboration in climate risk, and also introduced their industry study solution, Strategic Comparison and Advisory Narrative (SCAN). The session was attended by senior risk professionals from 10 global MDBs.
The discussion primarily focused on:
Key global trends in the climate risk space, with a particular focus on MDBs
MDBs current collaboration on select themes, but also operational areas where more could be done, such as project monitoring, portfolio risk quantification, etc.
A look at commercial banks vis-à-vis MDBs on climate risk integration, where MDBs are more mature in the areas of governance and project assessment, whereas banks are mature in the areas of TCFD reporting and climate risk stress testing
Key areas of benefits from sharing of best practices for MDBs – granular evaluation criteria for sector-specific environmental assessment of projects, project monitoring, quantification of portfolio alignment and climate risk stress testing
With the emphasis on benefits from industry collaboration, RISE introduced Strategic Comparison and Advisory Narrative (SCAN) on Climate Risk for MDBs. A data-driven comparative exercise focusing on the key components of climate risk, not just the current state but also the future roadmap, across MDBs - providing actionable intelligence on best-in-class industry practices, operating models and cost structures.
