Hear from Prof. Pete Smith of the University of Aberdeen, as we explore the overlap in the challenges from, and solutions to, climate change and biodiversity loss.

Climate change and biodiversity loss are often treated separately – in science, policy, and even risk management. But as the connections between these global crises come into sharper focus, it’s clear that understanding them together is essential for real progress.

In this episode, we break down those silos of climate and nature, exploring an integrated approach and how it might help us address these challenges simultaneously. We discuss:

• How climate and nature impact everything from our food systems to our economies, health and security;
• The work being done by intergovernmental bodies to connect these issues;
• And how this work can lead to positive outcomes for climate, nature and society.

To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

Links from today’s discussion:

• The Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IBPES): https://www.ipbes.net/
• IBPES’ upcoming Nexus report: https://www.ipbes.net/nexus
• The Joint IPCC-IBPES report on Biodiversity and Climate Change (2021): https://www.ipbes.net/events/ipbes-ipcc-co-sponsored-workshop-biodiversity-and-climate-change
• Soil: An Invisible Crisis and Massive Climate Opportunity: https://www.garp.org/podcast/soil-crisis-opportunity-cr-041323
  
  

Prof. Pete Smith FRS, Professor of Soils and Global Change, University of Aberdeen

Pete is the Professor of Soils and Global Change at the Institute of Biological and Environmental Sciences at the University of Aberdeen (Scotland, UK), and is Science Director of the Scottish Climate Change Centre of Expertise (ClimateXChange).

Since 1996, he has served as Convening Lead Author, Lead Author and Author for the Intergovernmental Panel on Climate Change (IPCC), which was awarded the Nobel Peace Prize in 2007. He is a global ecosystem modeller with interests in soils, agriculture, food security, bioenergy, greenhouse gases, climate change, greenhouse gas removal technologies, and climate change impacts and mitigation.

He was a Royal Society-Wolfson Research Merit Award holder (2008-2013), and is also a Fellow of the Royal Society of Biology (since 2008), a Fellow of the Institute of Soil Scientists (since 2015), and is a Fellow of the Royal Society of Edinburgh (since 2009). He was awarded the British Ecological Society Marsh Award for Climate Change Research in 2014, and the European Geophysical Union Duchaufour Medal for ‘distinguished contributions to soil science’ in 2017.

Hear from Gordon Bennett, Managing Director at ICE, as we dive into theory and practice of carbon pricing and its important role in driving the transition to net zero.

Carbon pricing is the poster child of market-based solutions to climate change. The principle is simple: by assigning a cost to greenhouse gas emissions, we incentivize polluters to emit less, and to do so in the most cost-effective way.

But there’s a significant gap between the theory and practice. Currently, only 24% of global emissions – about 12.8 gigatonnes – are covered by pricing mechanisms such as carbon taxes or cap-and-trade. On top of that, just half a gigatonne was traded in voluntary markets last year. Clearly, there’s still a long way to go. In this episode, we explore the carbon pricing gap, including:

• Why it exists, what’s needed to close it;
  
  
• The integrity challenges facing voluntary carbon markets, and how to address them;
  
  
• And how central counterparties can help drive the transition by ensuring transparent, reliable pricing.

To find out more about the Sustainability and Climate Risk (SCR®) Certificate, follow this link: https://www.garp.org/scr

For more information on climate risk, visit GARP’s Global Sustainability and Climate Risk Resource Center: https://www.garp.org/sustainability-climate

If you have any questions, thoughts, or feedback regarding this podcast series, we would love to hear from you at: climateriskpodcast@garp.com

Links from today’s discussion:

• The World Bank’s Carbon Pricing Dashboard: https://carbonpricingdashboard.worldbank.org/
• Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA): https://www.icao.int/environmental-protection/CORSIA/Pages/default.aspx
• GARP Climate Risk Podcast with Simon Sharpe: https://www.garp.org/podcast/five-times-faster-cr-240321
• The Oxford Offsetting Principles: https://www.smithschool.ox.ac.uk/research/oxford-offsetting-principles
• GARP Climate Risk Podcast with Mark Campanale: https://www.garp.org/podcast/net-zero-supply-side-issues-cr-220303

Gordon Bennett, Managing Director of Utility Markets and Global Head of Environmental Markets, ICE

Gordon has been Managing Director at Intercontinental Exchange, Inc. (ICE) since February 2015. Mr. Bennett is responsible for the sales and business development of ICE’s global environmental portfolio, the world’s largest environmental marketplace.

He is a member of the Board of ICE Endex, ICE Futures Abu Dhabi, Spark Commodities and a member of the Strategic Advisory Board of BeZero Carbon. He contributes to a wide range of external environmental and energy market initiatives including a member of the Nature Based Solutions Taskforce of the Sustainable Markets Initiative, the Transition to Net Zero Working Group of the Climate Financial Risk Forum, the City of London VCM Steering Committee, the VCMI Stakeholder Forum, the Advisory Board of the University of Cambridge Energy Policy Research Group and was named Environmental Finance’s sustainable business leader of the year in 2022.

Prior to ICE, Gordon spent 12 years at the global energy broker, Spectron, joining as Group Financial Controller and latterly serving as Chief Executive Officer. He is a Fellow of the Institute of Chartered Accountants in England & Wales.