The Commonsense Conversations on Climate Change Series explores and highlights a wide array of topics related to climate change focusing on its effects on the financial services industry and broader economy. Initiating these dialogues is critical given the unique capability of financial institutions and markets to effectively identify risks and fund solutions. Though the topics vary, they each present ways to encourage a pragmatic, commonsense approach to the transition to a low-carbon and ultimately net-zero economy.
As momentum builds for the financial services industry to act on climate change, continued international alignment is crucial to ensure progress is made quickly. As the world’s largest and second-largest carbon emitters respectively, China and the U.S. have the opportunity to demonstrate global leadership in confronting this challenge. During the second installment of the Series, former U.S. Treasury Secretary and noted China expert Hank Paulson discussed China’s recent initiatives to decrease its carbon footprint through innovative solutions, as well as areas in which the U.S. and China can work together to tackle climate change—and the potential consequences if they do not.