About the Topic
It is widely recognised that if society is to effectively adapt to climate change that the vast stocks of capital managed by the private sector must be tapped. Access to private finance is not given freely however. In any negotiation, the profit driven motive of financiers will prompt their initial question (if not thought): what’s in it for me? This expectation of return differentiates “financing” from “funding” and is the hallmark of any financing mechanism whether designed to assist adaptation or any other endeavour. The objective of this webinar is to consider the relationship between funding and financing in the context of the local government environment, and ultimately how each of these components influences each other and council capacity to manage climate change. The intention is not to run through a myriad of adaptation financing mechanisms. Given the infancy of adaptation finance and the significant flexibility of the industry this would neither be possible nor representative of the sector’s potential.
"Climate change is the mother of all-pervasive risks, it's scale and scope can pretty well impact everything. If we want to look at finance or how we resource certain activities then you need to start with funding - certainly in the local government space."
"Right now, I can pretty confidently say that climate risk is not really impacting how much organisations pay to access finance but I think that there are a number of significant trends in the private sector that are going to change that dynamic very soon".
"You need to get the CFO on board, you need to make it very clear that climate change might be an environmental impact but it has significant economic risks. Explain how seriously the private sector and the regulators are taking this risk, ... then you need to be understanding what the implications are to your operations and asset base so that you can financially cost it".
Ian Edwards (16th May 2019).
About Ian Edwards
Ian Edwards specialises in the socio-economic and financial implications of climate change adaptation. He is a chartered accountant with twenty years experience in national and international financial services. He has worked across a broad spectrum of the financial industry including accounting public practice, investment banking and reinsurance. His career has focused predominantly on affecting system change at a multinational scale, which has afforded him strong analytical, financial, information technology and project management skills. Ian has worked on climate change adaptation projects both within Australia (state and local governments) and internationally (NGOS, development banks and universities). Amongst other things, research undertaken by Ian has explored the viability of risk transfer mechanisms in the face of climate risk within the context of Local Government.