Event strengthened GARP's partnership with the U.K. organization working to transform net-zero ambitions into action
The Global Association of Risk Professionals (GARP) hosted a special event in London on April 18 honoring the fourth anniversary of the formation of Chapter Zero, an organization of over 2,500 non-executive director members dedicated to promoting board-level climate change awareness and transforming net-zero ambitions into actionable goals.
At the event, GARP reinforced its commitment to climate change risk management before a guest list of around 150 people that ranged from key influencers and advisors in business and climate to current members of Chapter Zero.
Speakers included the Bank of England Executive Director Sarah Breeden, who gave a keynote address on collective progress in the transition to net zero, and GARP Risk Institute (GRI) President Jo Paisley.
"The shift I had hoped to see in stronger linkages between climate change and strategic decision making across the economy have proved harder to deliver in practice," said Breeden. "Climate risks continue to build and still need to be addressed. Business and finance can indeed in order to manage their future risks will need to make progress whilst policy is developing, ahead of clarity on sectoral paths and regulatory practice."
Chapter Zero's emphasis on transforming climate ambitions into executive-level action aligns with the findings of GARP's most recent Climate Risk Survey report. According to the results, supervisory activity on climate risk continues to intensify. Nearly 90% of firms reported that their regulators have published formal expectations for climate risk management, while nearly 80% said regulators now require them to report their climate-related risks.
Since Chapter Zero was founded in 2019 as the official U.K. chapter of the Climate Governance Initiative organization, GARP has collaborated with it on several climate webcasts and podcasts. "GARP and Chapter Zero share a mission," said Paisley. "We are both committed to ensuring that businesses and the professionals who work at them understand the threats and opportunities created by climate change."
GARP's climate risk work has become a key pillar of the Association. As of 2023, nearly 3,800 professionals have completed their Sustainability and Climate Risk (SCR) Certificate, which GARP introduced in 2020 to meet the growing demand for comprehensive climate risk education.
In addition, GRI continues its research and thought leadership work on climate through its annual Climate Risk Symposium and consistent output of podcasts, webcasts, and white papers including a special report co-published with the United Nations Environment Programme Finance Initiative offering insights into board-level climate dashboards.
This collaborative white paper, as well as all other climate research and thought leadership, can be accessed at GARP's Sustainability and Climate Risk Resource Center.
About the Global Association of Risk Professionals
The Global Association of Risk Professionals is a non-partisan, not-for-profit membership organization focused on elevating the practice of risk management. GARP offers the leading global certification for risk managers in the Financial Risk Manager (FRM), as well as the Sustainability and Climate Risk (SCR) Certificate and ongoing educational opportunities through Continuing Professional Development. Through the GARP Benchmarking Initiative and GARP Risk Institute, GARP sponsors research in risk management and promotes collaboration among practitioners, academics, and regulators.
Founded in 1996, governed by a Board of Trustees, GARP is headquartered in Jersey City, N.J., with offices in London and Hong Kong. Find more information on garp.org or follow GARP on LinkedIn, Facebook, and Twitter.
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