Climate Risk & Sustainable Finance Forum

Climate Risk & Sustainable Finance Forum

The Climate Risk and Sustainable Finance Forum (Climate Forum) is a consultative forum. It aims to build a shared approach between the financial sector and Central Bank of Ireland in understanding and managing the financial risks and opportunities posed by climate change. Following a call for interest in membership of the forum, the first meeting was held on 29 June 2022. The Climate Forum meets twice yearly and is chaired by Vasileios Madouros, Deputy Governor, Monetary and Financial Stability, Central Bank of Ireland.

Forum participants include:

  • Climate change experts
  • Representative bodies
  • Regulated firms
  • Representatives from the Central Bank

The Climate Forum addresses high-priority climate-related issues where cross-sectoral input would be valuable, and seeks to provide a framework within which industry can progress work to address these issues. The Climate Forum seeks to address the following broad issues:

  • Building a shared knowledge and understanding of the implications of climate change for the Irish economy and financial system
  • Sharing/publishing good practices on climate risk assessment and modelling
  • Building a shared understanding of data gaps, and how to address them
  • Sharing/publishing examples of good practice on embedding climate-related risk assessment and sustainable finance considerations within firms’ operations. 

Further supporting the work of the Climate Forum, two industry-led working groups on Risk Management and Capacity Building were established at the end of 2022. In March 2024, the working group on Capacity Building issued a report on the status of climate-related capacity building across financial market participants in Ireland, international practices, and recommendations to enhance capacity building in this area.

Climate Forum - Terms of Reference

Climate Forum – Expert Network Terms of Reference

Louise O'Mahony, Banking and Payments Federation of Ireland  

Elizabeth Smith Wright, Brokers Ireland

Brian O'Neill, Aviva

Nadya Lazarova, Insurance Ireland

Aedín O'Leary, Irish Fund Directors Association

Pat Lardner, Irish Funds

Aoife Brophy, Irish MiFID Industry Association

Diarmuid Murphy, Institute Of Bankers  

Michael Sharpe, Society of Actuaries in Ireland (SAI)

Yvonne McCarthy, AIB

Damien Pidgeon, Bank of Ireland

Ursula Mapley, Bank of America Europe

Audrey Collins, Wells Fargo Bank International

Niall O'Leary, Irish Life

Evelyn Savage, IPB Insurance  

Kevin Thompson, Intact Insurance

Sarahann Duff, Hermes Fund Managers Ireland Limited

Carmen Tam, Invesco Investment Management Limited  

Patrick Flanagan, World Bank Group

Leontia Fannin, PTSB

Audrey Crummy, Financial Services Ireland

Ali Sheridan, Just Transition Commission  

David Malone, Irish League of Credit Unions

John Gethin, The Pensions Authority  

Climate Change Experts

John Fitzgerald, Trinity College

Jim Scheer, SEAI

Prof. Peter Thorne, Maynooth University

Dr. Eimear Cotter, Environmental Protection Agency

Stephen Nolan, UN Development Programme

Observers

Emma Jane Joyce, NTMA

David Owens, Department of Finance

Michael McGrath, Department of Finance

Sarah Moran, KPMG

Ross Allen, Jupiter Group

Moyagh Murdock, Insurance Ireland

Damien Lodge, Intact Insurance

Central Bank of Ireland

Vasileios Madouros (Chair)

Rory McElligott

Christopher Joyce

Remarks at the Climate Risk and Sustainable Finance Forum - Governor Gabriel Makhlouf

Remarks by Former Deputy Governor Sharon Donnery - Climate Forum Capacity Building Working Group 

Climate Forum Publications 

Capacity Building Working Group Report (PDF 2.35MB)

Risk Management Working Group Report  (PDF 860.69KB)

 

Account of meetings:

Find out more about the Central Bank’s work on climate change.

See also:

Climate Change Training Directory

Learning resources for financial professionals to develop skills in Climate Change and related areas.

Economic & Financial Interlinkages

Climate change is a long-term, intergenerational crisis requiring significant technological and behavioural change.