Environmental and Social Risk Management: Integral for Risk-Resilient Financial Institutions

This article was written by Sustainable Finance Advisory associate Swe Thant and Managing Director Carey Bohjanen for CSR Files, a ThistlePraxis Consulting publication. Read the full edition here. Carey and team served as the Independent Advisor to the Nigerian banks during the yearlong process of developing the NSBPs and Guidelines and provide sustainability and risk management advisory and consulting solutions to a wide range of financial sector clients around the globe as well as in Nigeria, including recently serving as an advisor to the Central Bank of Nigeria.

In May of this year, carbon dioxide levels in the earth’s atmosphere reached four hundred parts per million. Experts aren’t sure when levels were last historically this high – they are guessing that it was about 3 million years ago. But in case the implications aren’t clear, a marine geologist neatly summed up the situation: “It’s the inevitable march to disaster.” [1]

Climate change is only one of the global “megatrends” driving the changing landscape of risk and creating potential instability. Continue reading


Finance and Human Rights – Strange Bedfellows?

Guest post by Chintal Barot and Carey Bohjanen for Business Fights PovertyOriginal article here.

BFP article

“Finance and Human Rights are really in their early stages of their bedfellowness.”
– Professor John Kinley in his opening remarks at the recent
UN Forum on Business and Human Rights

The context
The Simandou Mountains that stretch across the tiny country of Guinea hold one of that country’s best chances for economic progress and for releasing it from the chokehold of poverty. Simandou is a veritable treasure trove of natural resources: it has for example, one of the world’s largest deposits of iron ore. How these resources are developed in the near term, balancing the dire need for economic development with the complexities of environmental stewardship, protection of human rights and enabling benefits to local communities, will determine whether Simandou can help raise Guinea from its current low economic standing (e.g. the country is ranked 178th out of 186 countries in the UN Development Programme’s Human Development). Guinea’s ability to address these challenges may be most acute in the extractive industries context but, interestingly, the financial sector is increasingly finding itself drawn into the debate on its role in encouraging more responsible and inclusive development, given the fact that it raises and provides financial solutions to underwrite such extractive development.  Continue reading