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 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.

The theme of this year’s Statistical Forum is “Measuring Climate Change: The Economic and Financial Dimensions. The risks posed by climate change are wide-ranging and profound. Both the risks and the mitigations have strong economic and financial dimensions. Climate change is macro critical for public policy with concerns ranging from fiscal imbalances to financial stability, as well as food and water security and impacts on vulnerable populations and regions. However, the existing frameworks for statistics related to climate change—either conceptual, analytical or empirical—are not yet sufficiently developed to provide sound data for evidence-based policy making. In this context, the Forum will build on the Climate Change Indicators Dashboard recently developed by IMF in collaboration with other international organizations and launched in April 2021.

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Tentative Agenda

November 17, 2021

9:00 a.m.

Welcoming Remarks

Louis Marc Ducharme, Chief Statistician and Data Officer, and Director, Statistics Department, IMF

9:05 a.m.

Introduction to the Forum

Bo Li, Deputy Managing Director, IMF

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 fiscal and monetary policy instruments.

9:15 a.m.

Introduction by the Chair

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: Empirical Estimates of a Spectrum of Opportunity

9:35 a.m.

Seyyed Mahdi Sadati Nooshabadi (Statistical Center of Iran), The Role of National Statistical Offices in Developing the Climate Change Statistics: A Case Study from the Statistical Center of Iran

9:50 a.m.

Bram Edens (United Nations Statistics Division), The Treatment of Global Climate Regulation in the System of Environmental-Economic Accounting – Ecosystem Accounts and Its Implications for Policy

10:05 a.m.

Questions from the audience

10:35 a.m.

Break

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.

10:45 a.m.

Introduction by the Chair

10:50 a.m.

Anu Peltola (United Nations Conference on Trade and Development), with Diana Barrowclough, Rachid Bouhia, Daniel Hopp, Onno Hoffmeister, Measuring Trade, Investment, and Financial Aspects of Climate Change: Stakes, New Insights, and Data Gaps in Developing Countries

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

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 Risks: Analyzing the Impacts of a Decarbonization of the Global Economy on International Trade, Finance, and Money

11:35 a.m.

Questions from the audience

12:05 p.m.

Break

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.

1:45 p.m.

Introduction by the Chair

1:50 p.m.

Caroline Willeke and Malgorzata Osiewicz (European Central Bank), with Romana Peronaci, Daphné Aurouet, and Jörn Franke, Experimental Statistical Indicators on Granular Exposures to Climate-Related Physical Risks

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

2:20 p.m.

Ville Tolkki (Bank of Finland), with Antti Hirvonen and Anu Karhu, Measuring the Carbon Footprint of Loans to Domestic Non-Financial Corporations by Banks

2:35 p.m.

Questions from the audience

3:05 p.m.

Break

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 – Ecosystem Accounting and present new opportunities offered by geospatial information.

3:15 p.m.

Introduction by the Chair

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 and How Harmonization of Environmental, Social, and Governance Reporting Could Help Create a New Set of National Economic Accounts Affiliation

3:35 p.m.

Julio Santaella (Mexico, National Institute of Statistics and Geography (INEGI)), with Francisco Guillén, and Rodolfo Orozco, Measuring Climate Change: The Importance of Geospatial Information with an Application to Carbon Sequestration and Storage in the System of Environmental-Economic Accounting – Ecosystem Accounting

3:50 p.m.

Ricardo Valencia Ramirez (Colombia, National Administrative Department of Statistics (DANE)), The System of Environmental and Economic Accounting: Approaches from Colombia

4:05 p.m.

Questions from the audience

4:35 p.m.

End of first day

November 18, 2021

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.

9:00 a.m.

The IMF Climate Change Indicators Dashboard

Presenter : Gabriel Quirós-Romero, Deputy Director, Statistics Department, IMF

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

Reena Shah, Chief, Environment Statistics Section, United Nations Statistics Division

Nick Johnstone, Chief Statistician, International Energy Agency

Debora Revoltella, Director, Economics Department, European Investment Bank

Fabio Natalucci, Deputy Director, Monetary and Capital Markets Department, IMF

10:45 p.m.

Questions from the audience

11:15 p.m.

Break

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.

1:30 p.m.

[Moderator and panelists to be announced]

2:45 p.m.

Questions from the audience

3:00 p.m.

Break

Keynote speech and one-on-one between Prof. Johan Rockström and IMF Managing Director

3:15 p.m.

Moderator: Gerry Rice, Director of the Communications Department, IMF

Keynote Speech: Johan Rockström, Director, Potsdam Institute for Climate Impact Research

3:45 p.m.

One-on-one discussion

Johan Rockström, Director, Potsdam Institute for Climate Impact Research

Kristalina Georgieva, Managing Director, IMF

4:30 p.m.

Closure

E-MAIL: STAForum@imf.org