Sustainability and Climate Change
GARP's Sustainability and Climate Risk (SCR) Exam Review
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What You Will Learn!
- Define and explain the different aspects of sustainability.
- Relationship and intersection among sustainability, ESG, and/or climate change.
- Key features of the Millennium Development Goals and 2030 Agenda.
- Describe the United Nations (UN) Sustainable Development Goals (SDGs).
- Discuss strategies for implementing and aligning with the SDGs.
- Define ecosystem services, subcomponents, and natural capital.
- Trace the evolution of sustainability in governments, corporations, and financial institutions.
- Describe how organizations can “greenwash” and “greenwish” sustainability claims.
- Describe the life-cycle assessment process and how organizations use this tool to advance sustainability.
- Know the major sustainability frameworks and initiatives, their objectives, and to whom they are targeted.
- Explain the requirements and suggested measures to take for each principle of responsible banking.
Description
In this course/chapter, the overarching theme of "sustainability" is explored, specifically in relation to public policies, corporate practices, and financial institutions. Understanding sustainability in these contexts serves as essential background information before delving into more detailed discussions on climate risk analysis and policy frameworks.
The chapter begins by providing a definition of sustainability and highlighting its distinctions from the concept of ESG (environmental, social, and governance issues) and climate risk. Additionally, it addresses global objectives concerning sustainability, particularly emphasizing the United Nations Sustainable Development Goals (SDGs). The chapter takes a comprehensive approach, touching upon various aspects such as economic development, social justice and equity (including human rights), and environmental protection (including biodiversity). The primary focus is on introducing concepts and establishing a general framework in preparation for subsequent chapters that offer more in-depth exploration.
Key Learning Points:
• Sustainability entails satisfying economic needs without placing excessive strain on the environment or society.
• The concept of sustainability initially emerged in the context of sustainable development, which aims for economic growth without depleting natural resources or overwhelming society. However, sustainability now extends to governments, corporations, financial institutions, and individual actions.
• Sustainability encompasses a wide range of topics, including ESG, which involves assessing the environmental, social, and governance performance of companies, often by financial entities.
• Climate action is a vital component of the environmental agenda and falls under the purview of sustainability.
• The UN's 2030 Agenda, particularly the Sustainable Development Goals (SDGs), serves as a significant reference point and benchmark for policymakers and the private sector.
• Corporate sustainability practices have evolved beyond mere corporate social responsibility or moral considerations and now encompass considerations of financial significance.
• The establishment of frameworks and coalitions has played a crucial role in disseminating sustainability practices among private sector participants.
Who Should Attend!
- GARP's SCR Candidates.
- Students who wish to study Climate Risk Management.
- Teachers and instructors who wish to develop a deeper understanding of sustainability and climate risk management.
- Professionals who are thinking of changing careers.