“We call on policymakers and the financial sector to … collaborate to bridge the data gapsGovernor of Bank of England Mark Carney, Governor of Banque de France François Villeroy de Galhau,
to enhance the assessment of climate-related risks”
Chair of the Network for Greening the Financial Services Frank Elderson, 2019-04-17
We live in the best of times and the worst of times. The last 25 years have seen a massive increase in intelligence thanks to the information technology revolution and yet we are staring down the barrel of global catastrophe as the natural systems upon which all of humanity relies are stressed and stretched to breaking point. Uncontrollable climate change and massive species loss are not dim and distant risks—we are witnessing the early warning signs today.
We are blessed and cursed with this knowledge. It impels us to take action and yet there is no clear plan for how we should act and there are severe headwinds holding us back. This document sets out a potential framework for action at a high-level. It is an approach to the dual risks we now face that enables and facilitates action on multiple levels and across all jurisdictions. It is an approach founded on the principle that facilitation of information and
data flows will increase our resilience.
The wealth of data we have must now be made usable to help us address climate and environmental risks, and to radically improve our investments in, and planning and management of our global infrastructure. While there is an ocean of available capital, the lack of data-flow is leading to misallocation of resources, missed opportunities and is
creating catastrophic risks on our global balance sheets. Our data infrastructure is as important as our physical infrastructure in averting the climate crisis but it is being dangerously neglected.
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