{"id":1629,"date":"2018-10-09T10:43:54","date_gmt":"2018-10-09T08:43:54","guid":{"rendered":"https:\/\/vbdo.nl\/?p=1629"},"modified":"2018-10-09T15:08:38","modified_gmt":"2018-10-09T13:08:38","slug":"waiting-with-climate-policy-has-a-high-price","status":"publish","type":"post","link":"https:\/\/vbdo.nl\/en\/2018\/10\/waiting-with-climate-policy-has-a-high-price\/","title":{"rendered":"Waiting with climate policy has a high price"},"content":{"rendered":"<p><strong>Waiting with climate policy has a price. Anyone who hesitates now runs the risk of causing problems for banks, insurers and pension funds later on. This is what De Nederlandsche Bank (DNB) says in its semi-annual risk analysis this week. For the first time, climate change is discussed in detail as a risk for the financial sector.<\/strong><\/p>\n<p>Almost 200 countries agreed in Paris at the end of 2015 to limit global warming to below 1.5 degrees, in the worst case to below 2 degrees. To achieve this goal, greenhouse gas emissions must be drastically reduced.<\/p>\n<p>Governments should not postpone climate measures, according to DNB on the basis of the climate stress test published this Monday. Because postponement increases the chance that later &#8220;abrupt&#8221; measures are required, which would lead to &#8220;substantial losses&#8221; in the Dutch financial sector.<\/p>\n<p><strong>Double shock<\/strong><\/p>\n<p>The stress test covers four scenarios where shocks occur. Within a period of five years, major changes are taking place in the global energy supply, or large uncertainty arises due to the absence of measures.<\/p>\n<p>Scenario 3 is the most likely scenario according to DNB president Klaas Knot. It combines the first two scenarios into a &#8216;double shock&#8217;. It is also the most expensive scenario for the financial sector: EUR 159 billion of evaporated capital. &#8220;If you start earlier, you can adjust better,&#8221; said Knot. He called on banks, insurers and pension funds to take into account the energy transition in their risk management.<\/p>\n<p><em><a href=\"https:\/\/www.nrc.nl\/nieuws\/2018\/10\/08\/wachten-met-uitvoeren-klimaatbeleid-is-financieel-risico-a2407132\" target=\"_blank\" rel=\"noopener\">Source: NRC<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Waiting with climate policy has a price. Anyone who hesitates now runs the risk of causing problems for banks, insurers and pension funds later on. This is what De Nederlandsche Bank (DNB) says in its semi-annual risk analysis this week. [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15,12],"tags":[],"esg-filter":[],"pub-type":[],"class_list":["post-1629","post","type-post","status-publish","format-standard","hentry","category-homepage","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Waiting with climate policy has a high price - Dutch Association of Investors for Sustainable Development<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vbdo.nl\/en\/2018\/10\/waiting-with-climate-policy-has-a-high-price\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Waiting with climate policy has a high price - Dutch Association of Investors for Sustainable Development\" \/>\n<meta property=\"og:description\" content=\"Waiting with climate policy has a price. Anyone who hesitates now runs the risk of causing problems for banks, insurers and pension funds later on. This is what De Nederlandsche Bank (DNB) says in its semi-annual risk analysis this week. 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