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Sustainable Finance and Climate Risk

Practical Application of TCFD: Incorporating Physical Climate Change and Extreme Weather Risk into Portfolio Management

The purpose of this research is to create four new Climate Risk Matrices to complement those already created for Commercial Real Estate and the Transmission and Distribution of Electricity, which were utilized throughout the “Factoring Climate Risk into Financial Valuation” report. The four new sectors are: (a) banking, (b) Property & Casualty (“P&C”) insurance, (c) hydro electricity generation, and (d) wind electricity generation.


Intact Centre on Climate Adaptation, University of Waterloo


Blair Feltmate and Kathryn Bakos




Blair Feltmate

Blair is the Head of the Intact Centre on Climate Adaptation, University of Waterloo. Previous positions he has held include Vice President, Sustainable Development, Bank of Montreal/Jones Heward Investment Council; Director, Sustainable Development, Ontario Power Generation; Partner, Sustainable Investment Group/YMG Capital Management.  Blair has written textbooks on Sustainable Banking (2016: University of Toronto Press), and Aquatic Ecology (1992: CAB International).

He is on the federal committee to develop Canada’s first National Adaptation Strategy.  He is a member of Climate Proof Canada (Insurance Bureau of Canada), and he is on the Sustainable Finance Advisory Council, Global Risk Institute.  He is Chair, Adaptation Council, Canadian Institute for Climate Choices (Environment and Climate Change Canada). He is on the Board, Climate Change Adaptation, Minister of Environment (Ontario). He was Chair, Federal Government of Canada Expert Panel on Climate Adaptation.