Diversifying Wildfire Risk
Climate change is altering risk profiles the world over. In the US, it has led to an increase in wildfire season length, wildfire frequency, and the size of burned area. When it comes to such disasters, is the economic risk only borne by those in the risky area, or can the economic risk be shared among investors? A recent webinar looked at a longstanding tool for financial adaptation. For nearly a century, mortgages have been used to create mortgage-backed securities (MBSs) in order to share the risk (and thus the return) of financing real estate. “What are the benefits of […]
California Perspective
Imagine feeling shut out from important decisions in your community. Imagine feeling you were always the last choice when it came to hiring for the good jobs. If social studies showed this was always due to systemic bias, wouldn’t you want to work for change—if not for yourself, at least for the generation to come? This is the motivation behind the movement for diversity, equity, and inclusion (DEI). What are the fundamental principles to accelerate change around DEI? Can financial institutions adapt to DEI—and can their regulatory body, CFA Institute, lead the way? To showcase thriving financial institutions that have […]
Resilient earth?
As 2023 draws to a close, we see increasingly severe climate outcomes around the world—from rising emissions to severe weather events, to increased food and water inequality. Three days before the United Nations Climate Change Conference COP 28 began, a multidisciplinary research organization welcomed scientific panellists to a webinar for an audience of hundreds on November 27, 2023, titled “Nurturing a Resilient Earth.” The virtual event, sponsored by CIFAR (Canadian Institute for Advanced Research), convened an interdisciplinary panel of four top researchers. The discussion was moderated by Stephen Toope, President & CEO of CIFAR, and the author most recently of A […]