EP5: How the Finance Sector Can Address Climate Risk

June 21, 2023

The impacts of climate change pose a massive risk to the financial sector. Companies that continue to invest, lend, or insure assets that fail to transition to a low-carbon economy or are highly exposed to natural disasters have the potential to lose significant capital. All this means firms need to actively manage their climate-related financial risks.

In this episode, Host Laura Zizzo discusses how the financial services industry can manage its climate-related risks. To set the stage, Laura speaks with Manifest Climate’s Communications Lead, Daina Goldfinger, who reviews the top stories in the climate risk space. Daina discusses the European Union’s sustainable finance rules, how financial firms are urging companies to disclose their environmental impacts, and banking groups’ calls for US regulators to harmonize their climate risk principles.

After that, Laura is joined by special guest Sonja Gibbs, the managing director and head of sustainable finance at the Institute of International Finance (IIF). The two discuss why climate risk is a financial risk, how it’s impacting financial institutions, and how these firms can prepare and move toward climate resilience.

Climate Compass is a production by Manifest Climate, the leading Climate Risk Planning software.

What we discuss

0:35 Climate Trends Talk
1:11 EU clarifies sustainable finance rules
2:44 Financial firms join CDP in urging environmental disclosure
4:00 Banks urge US regulators to harmonize climate risk guidance
5:43 Introducing Sonja Gibbs, managing director and sustainable finance head at the IIF
7:19 Sonja’s reflections on the evolution of climate risk in the financial sector
10:40 What inspired Sonja to think about climate
13:54 Managing climate risk in the financial sector
20:28 How IIF’s members are thinking about climate risk
25:00 Exploring disclosure comparability and standardization
26:50 How companies can move toward achieving climate targets

How Manifest Climate can help

Our leading Climate Risk Planning software helps companies supercharge their climate strategies. Manifest Climate’s platform is the world’s best at assessing climate disclosures and represents a single source of truth to guide your organization through the climate transformation. Our software helps you save up to 75% of manual time and effort and up to 50% in costs. 

We analyze how organizations disclose their climate-related information and identify opportunities for improvement based on best practices. Our solution also provides insights into how your business’s disclosures stack up against industry peers, as well as expert takeaways on business-relevant climate trends that help your leaders make better decisions. Request a demo to learn more.


Laura Zizzo

Co-Founder & CEO
Manifest Climate

Daina Goldfinger

Communications Lead
Manifest Climate

Sonja Gibbs

Managing Director and Head of Sustainable Finance

Institute of International Finance