Balancing mitigation and adaptation: insights for the financial sector
Hear from Dr. Nicola Ranger, Director of Climate and Environmental Analytics at the UK Centre for Greening Finance and Investment (CGFI), as she discusses the importance of climate adaptation.
When discussing humanity’s response to climate change, we often draw a dividing line between the competing priorities of mitigation and adaptation. Simply put, mitigation measures are actions taken to reduce greenhouse gas emissions, while adaptation measures are based on reducing our vulnerability to the effects of climate change.
Looking back over the past three years of this podcast, whilst we have had many discussions about various mitigation efforts, we have had comparatively few conversations about adaptation. This imbalance between mitigation and adaptation is one that can be found throughout the financial sector. Despite its clear importance, and the often urgent adaptation efforts taking place outside of the financial domain, it continues to receive relatively little attention. This episode asks:
- Why is this the case?
- What would an appropriate balance between the mitigation and adaptation look like?
- And how can the financial sector drive progress on adaptation efforts?