TIMING HORIZONS FOR ASSESSING CLIMATE RISK MATERIALITY

• Jurisdiction: United States

Climate Change Law and Regulations: Planning for a Carbon-Constrained Regulatory Environment
(Jan 2015)
CHAPTER 6A
TIMING HORIZONS FOR ASSESSING CLIMATE RISK MATERIALITY
Mark C. Trexler
The Climatographers
Portland, Oregon

[Page 6A-1]

MARK C. TREXLER has focused on climate risk and risk management for the last 25 years, a focus he continues with The Climatographers. Mark was previously Director of Climate Risk for Det Norske Veritas (DNV), a global risk management firm operating in more than 90 countries around the world. Prior to joining DNV Mark directed EcoSecurities' Global Consulting Services group from 2007-2009, and was President of Trexler Climate + Energy Services (TC+ES) from 1991 to 2007 (when it was acquired by EcoSecurities). Mark began his work on climate change in 1988 with the World Resources Institute's Climate, Energy and Pollution Program in Washington, D.C., where he worked on the first carbon offset projects. Mark has advised companies on corporate risk management and strategic planning for climate change and other risks since 1991. In addition to electric utility and oil and gas clients around the world, Mark has worked with national and international clients including the United Nations. Development Program, the U.S. Environmental Protection Agency, the Global Environment Facility, and The Nature Conservancy. Mark is widely published on the technical and policy issues relating to climate change risk and risk management, including blogging for www.theguardian.com, www.greenbiz.com, www.dosustainability.com, and www.climatographer.com, and has served as a Lead Author for the Intergovernmental Panel on Climate Change. Mark also has worked extensively on energy policy issues from facility siting to technology R&D policy, and has extensive experience as an expert witness. Mark's graduate degrees are from UC Berkeley, and he has spent almost 10 years living abroad.

Timing Horizons for Assessing Climate Risk Materiality

Dr. Mark C Trexler

Special Institute on Climate Change Law and Policy

New Orleans, Louisiana

January 22, 2015

Risk

=

Hazard × Consequence × Probability

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We Under-Estimate Risks Like Climate Change (Big Time!)

The Risk Status Quo

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Climate Stresses -〉 Climatequakes?

25 Years . . .

No Climatequakes

So . . . . We Must be Safe!

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We're Feeling Lucky! (BTW, That's Optimism Bias - so Watch Out!)

[Page 6A-6]

Building a Tail-Risk Management Strategy

...