The EMF Snowmass workshop focused on the interaction between the finance sector and climate change. Both practitioners from the financial sector (public and private banking, private finance) and integrated assessment modelers interested in how to better link IAMs with finance sector analysis attended the workshop. Key lessons learnt from the discussions include:

• There is considerable interest in the finance sector (e.g. insurance institutions, central banks, development banks) in using outcomes of IAMs in order to better identify and quantify climate related risks for the financial sectors. These risks are both physical (e.g. climate impact risks) and linked to the impact of climate change policies.
• IAMs can be a key provider of information to inform risk assessment of financial institutions. Compared to alternative providers like the IEA, their strength lies in a broad exploration of the scenario space, their integrated systems perspective, and their relevance for climate policy making. Drawbacks are their large number, lack of granularity, lack of (bi)annual updates, and lack of communication strategies geared to stakeholders. Examples of first IAM-finance sector collaborations are the banking pilot of the UNEP Finance Initiative and exchanges between the IAM community and the Network of Greening the Financial System. The IAMC has founded a scientific working group on the use of scenarios for financial risk analysis[1]. More support will be needed to reinforce these collaborations.