Ep 12: Pricing in Physical Climate Risks | Julie Segal

Talking Papers with Haley Hrymak

Julie Segal is Senior Manager, Climate Finance at Environmental Defence, where she advances climate-related financial policy and regulation. In this episode, Julie discusses her paper, "Justice and Sustainability: Pricing in Physical Climate Risks" which won First Prize Paper in the Ethics & Trust in Finance Global Prize. The paper discusses how pricing in physical climate risk is inconsistent with environmental justice. Why are countries vulnerable to climate change having to pay higher rates to access financing, while these same countries are the least responsible for climate change? The impact of this, is that the countries who need access to financing to respond to climate change and mitigate future risks, are paying more. Pricing in climate risks is individualistic and short-sighted, and instead investment decisions and policies should be guided by principles of global environmental justice.
Twitter: @JulieESegal