9th IMF Statistical Forum: Measuring Climate Change: The Economic and Financial Dimensions
November 17-18, 2021
The 9th Statistical Forum of the International Monetary Fund will take place virtually during November 17–18, 2021. The theme of this year’s Forum is Measuring Climate Change: The Economic and Financial Dimensions. The Forum will build on the IMF Climate Change Indicators Dashboard, developed in close collaboration with other international organizations and launched in April 2021.
The Forum is a platform for policymakers, researchers, private sector, regulators, and compilers of economic and financial data to come together to discuss cutting-edge issues in macroeconomic and financial statistics and to build support for statistical improvements. It will take place over two days and the second day will be livestreamed.
During the first day, the Forum will feature empirical and conceptual papers on climate-related topics, particularly on measuring how economic activity is damaging the environment, risks to economic and financial stability, effects on the sustainability of growth, and actions and activities to mitigate or adapt to climate change.
During the second day, there will be two high-level panel discussions on international efforts to measure climate change in macroeconomic statistics and the role of these statistics in informing decision makers and the public. Johan Rockström, Director of the Potsdam Institute for Climate Impact Research, will deliver the keynote speech. Professor Rockström is globally recognized for his research on planetary boundaries, which was featured in the recent Netflix documentary, Breaking Boundaries: The Science of Our Planet. The keynote speech will be followed by a one-on-one discussion with the IMF’s Managing Director, Kristalina Georgieva.
The topics of primary interest for this year’s Forum are listed below:
- Which indicators on the economic and financial dimensions of climate change are needed for policymaking?
- What data are available and what are the key data gaps?
- What are the data sources and compilation methods needed?
- What can be the near-term statistical response and how should it be provided?
- Beyond the short-term, what should be the core statistical framework of a medium- to long-term strategy for sound and sufficiently detailed data to support policymaking in combatting climate change?
- Cost-benefit analysis of policy needs and statistical constraints. What to prioritize? And how?
The full agenda can be found below.
Please use the WebEx links below for each day:
If you have any questions, please contact us at STAForum@imf.org.
Agenda (Washington D.C. time / EST)
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November 17, 2021 Watch the Session |
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9:00 a.m. |
Welcoming Remarks Louis Marc Ducharme, Chief Statistician and Data Officer, and Director, Statistics Department, IMF |
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9:05 a.m. |
Introduction to the Forum Bo Li, Deputy Managing Director, IMF |
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Session 1: Measuring Climate Change: The Economic Dimensions This session will discuss data needs for a better understanding of the economic aspects of climate change. It will consider the role of official statistics, including GDP, welfare, and environmental statistics, for decision makers. It will also discuss new methodological standards and their implications on economic and environmental policies. |
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9:15 a.m. |
Introduction by the Chair, Catherine Pattillo, Deputy Director, African Department, IMF |
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9:20 a.m. |
Cliodhna Taylor (United Kingdom, Office for National Statistics), with Robert Bucknall, Stephen Christie, and Richard Heys, GDP and Welfare through an Environment Lens |
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9:35 a.m. |
Viveka Palm (Eurostat), Eurostat’s Climate Change Related Statistics |
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9:50 a.m. |
Bram Edens (United Nations Statistics Division), The Potential of the System of Environmental Economic Accounting to Inform Climate Policy |
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10:05 a.m. |
Questions from the audience |
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10:35 a.m. |
Break |
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Session 2: Measuring Climate Change: The Cross-Border Dimensions This session will discuss data needs for a better understanding of the cross-border aspects of climate change. It will consider indicators of emissions embodied in trade, measures of trade in environmental goods, and factors related to emissions resulting from direct investment. |
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10:45 a.m. |
Introduction by the Chair, Evie Sylviani, Director, Statistics Department, Bank Indonesia |
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10:50 a.m. |
Anu Peltola (United Nations Conference on Trade and Development), with Diana Barrowclough, Rachid Bouhia, Onno Hoffmeister, and Daniel Hopp, Trade, Investment, and Financial Aspects of Climate Change |
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11:05 a.m. |
Maria Borga (IMF), with Achille Pegoue, Gregory Max Henri Legoff, Alberto Sanchez Rodelgo, Dmitrii Entaltsev, and Kenneth Egesa, Measuring Carbon Emissions of Foreign Direct Investment in Host Economies |
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11:20 a.m. |
Ulrich Volz (SOAS, University of London), with Emanuele Campiglio, Etienne Espagne, Jean-Francois Mercure, William Oman, Hector Pollitt, Gregor Semieniuk, Romain Svartzman, Transboundary Climate-Related Risks |
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11:35 a.m. |
Questions from the audience |
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12:05 p.m. |
Break |
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Session 3: Measuring Climate Change: The Financial Dimensions This session will discuss data needs for a better understanding of the financial aspects of climate change, including financial and transition risk indicators. It will consider initiatives on the disclosure of climate-change related risks by financial institutions and the topic of sustainable finance to safeguard financial stability and economic growth. |
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1:45 p.m. |
Introduction by the Chair, Tobias Adrian, Financial Counsellor and Director, Monetary and Capital Markets Department, IMF |
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1:50 p.m. |
Caroline Willeke and Malgorzata Osiewicz (European Central Bank), with Romana Peronaci, Daphné Aurouet, Jörn Franke, Alessandro De Sanctis, and Davide Del Giudice, Indicators on Granular Exposures to Climate-Related Physical Risks |
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2:05 p.m. |
Elena Triebskorn (Deutsche Bundesbank), with Maurice Fehr, Christine Schlitzer, Kerstin Gies, and Sascha Wengerek, Short and Medium-Term Approaches to Closing Climate Data Gaps: German Experiences and Conclusions on the Way Forward |
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2:20 p.m. |
Ville Tolkki (Bank of Finland), with Antti Hirvonen and Anu Karhu, Carbon Footprint of Bank Loans to Domestic Non-Financial Corporations |
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2:35 p.m. |
Questions from the audience |
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3:05 p.m. |
Break |
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Session 4: Measuring Climate Change: Country Cases This session will discuss challenges faced by three countries in their endeavor to measure climate change using international statistical standards. It will consider the implementation of the System of Environmental Economic Accounting and present new opportunities offered by geospatial information. |
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3:15 p.m. |
Introduction by the Chair, Vitor Gaspar, Director, Fiscal Affairs Department, IMF |
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3:20 p.m. |
Scott Wentland (US, Bureau of Economic Analysis), with Julie L. Hass, Dennis Fixler, and Kelly Wentland, Accounting for Climate Change and Environmental Activity: Implementation Challenges in the US |
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3:35 p.m. |
Julio Santaella (Mexico, National Institute of Statistics and Geography (INEGI)), with Francisco Guillén, and Rodolfo Orozco, The Importance of Geospatial Information Measuring Climate Change: Mexico’s Experience |
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3:50 p.m. |
Ricardo Valencia Ramirez (Colombia, National Administrative Department of Statistics (DANE)), with Diego Andrés Cobaleda Martínez, Jenny Johana Rosado Ortíz, Juan Pablo Cardoso, Ángela Patricia Casas, Camilo Andrés Méndez, Carlos José Giménez, and Nicolás Paipa, The System of Environmental Economic Accounting: Approaches from Colombia |
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4:05 p.m. |
Questions from the audience |
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4:35 p.m. |
End of first day |
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November 18, 2021 |
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International Efforts to Measure the Impact of Climate Change The session will present the updated IMF Climate Change Indicators Dashboard, first launched in April 2021, and showcase how it can contribute to statistical cooperation on climate change related data. The Dashboard is a single platform that brings together experimental climate change indicators and facilitates comparison across countries, developed in cooperation with other international organizations. In addition, this session will include a panel discussion to explore key issues in measuring climate change in macroeconomic statistics by various international organizations. The panel will also discuss ongoing efforts to enhance the availability and accessibility of relevant climate change data to support policy decisions and public awareness. |
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9:00 a.m. |
The IMF Climate Change Indicators Dashboard Presenter: Gabriel Quirós-Romero, Deputy Director, Statistics Department, IMF |
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9:30 a.m. |
Panel Discussion 1: Key Issues in Measuring Climate Change in Macroeconomic Statistics Moderator: Louis Marc Ducharme, Chief Statistician and Data Officer, and Director, Statistics Department, IMF Panelists: Nathalie Girouard, Head of Division, Environment Directorate, OECD Stéphane Hallegatte, Senior Climate Change Advisor, Climate Change Group, World Bank Nick Johnstone, Chief Statistician and Head of the Energy Data Center, International Energy Agency Debora Revoltella, Director, Economics Department, European Investment Bank Reena Shah, Chief, Environment Statistics Section, United Nations Statistics Division Fabio Natalucci, Deputy Director, Monetary and Capital Markets Department, IMF |
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10:30 a.m. |
Questions from the audience |
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11:00 a.m. |
Break |
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Panel Discussion 2: Climate Change and Statistics—The Road Ahead This panel will discuss the role of economic and financial statistics in informing decision makers and the public on climate change related trends. It will explore data gaps that are essential for tracking progress towards a greener and more sustainable growth model following the COVID-19 crisis. |
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1:30 p.m. |
Moderator: Gillian Tett, Chair of the Editorial Board and Editor-at-Large, Financial Times Panelists: Mia Mottley, Prime Minister of Barbados Amar Bhattacharya, Senior Fellow, Center for Sustainable Development, Brookings Institution James Stock, Vice Provost for Climate and Sustainability, Harvard University Eric Van Nostrand, Head of Research for Sustainable Investments and Multi-Asset Strategies, BlackRock Kristina Kostial, Deputy Director, Strategy, Policy and Review Department, IMF |
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2:30 p.m. |
Questions from the audience |
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3:00 p.m. |
Break |
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Keynote Speech and One-on-One Discussion between Professor Johan Rockström and IMF Managing Director |
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3:15 p.m. |
Introduction by Gerry Rice, Director, Communications Department, IMF Keynote Speech: Johan Rockström, Director, Potsdam Institute for Climate Impact Research, The Post-Pandemic Climate Challenge – Holding the 1.5°C Line |
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3:45 p.m. |
One-on-One Discussion Johan Rockström, Director, Potsdam Institute for Climate Impact Research Kristalina Georgieva, Managing Director, IMF |
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4:10 p.m. |
Closure |
E-MAIL: STAForum@imf.org