Climate change and financial stability
Climate change poses long-term challenges to our economies, societies, and financial systems. The key risks are twofold: physical risks such as extreme weather events, and transition risks, including sudden shifts in asset values and rising business costs as we move towards a low-carbon economy.
To manage these risks, we must not only cut greenhouse gas emissions and invest in green infrastructure but also boost resilience to deal with the economic fallout of climate-related events and biodiversity loss. This transformation demands substantial investment and a coordinated effort to create green jobs and sustainable growth.
However, climate impacts are not equally distributed across countries, and current financing falls short of what’s needed to meet Europe’s climate goals. A more integrated approach to capital and banking markets will be crucial to unlocking private investment at scale.
Curious how we can finance the transition while safeguarding economic stability?
Join Wim Van Aken for an engaging keynote at the Brussels School of Governance and be part of the conversation on shaping a resilient, climate-ready economy. After the keynote speech, there will be room for a Q&A.
Click here to watch the recording
About the speaker
Wim Van Aken is the Senior Advisor to the Chief Economist of the European Stability Mechanism (ESM), and ESM Mission Chief for Cyprus. Prior to this, he worked as Senior Advisor to the current and previous ESM Managing Director also acting as Secretary of the ESM Management Board.
Before joining the ESM, Wim worked for the European Central Bank (on the liquidity crisis), the European Bank for Reconstruction and Development (on EU economic enlargement), for the EC’s Bureau of European Policy Advisors (on scenario analysis), the EUI/Robert Schuman Centre for Advanced Studies, and the Universities of Leuven and Liège.
He has an interdisciplinary background with executive education from the London Business School and Wharton. He holds a PhD from the European University Institute, carried out graduate studies at NYU, and received an MSc from the LSE and an MA from the University of Leuven and Exeter. He finished his postdoctoral studies at the faculty of economics from the University of Liège.