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The Moss-Fletcher Lecture – Green Swans and Blue Skies: Climate Change and Insolvency Risk for Financial Institutions
October 23, 2025 @ 5:00 pm - 6:30 pm
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LSE is delighted to be hosting the London Moss-Fletcher lecture 2025, with the generous support of the International Insolvency Institute and South Square. The London lecture is the second of two Moss-Fletcher lectures. The first was held in São Paulo, Brazil on Friday June 6, 2025. The London lecture will be held in person at the LSE in the Marshall Building, 44 Lincoln’s Inn Fields, London WC2A 3LY at 17:00 on Thursday 23 October 2025.
The Moss-Fletcher lecture series is a tribute to the late Gabriel Moss QC and Ian Fletcher QC. The inaugural Moss-Fletcher lectures were delivered by Sir Roy Goode KC in 2023 and Professor Westbrook in 2024. This year’s speaker is Dr Janis Sarra, Professor of Law Emerita, University of British Columbia, Principal Co-Investigator of the Canada Climate Law Initiative, a member of the Canadian Delegation to UNCITRAL WG V, and past Presidential Distinguished Professor of UBC.
Speaker: Dr Janis Sarra
Chair: Professor Sarah Paterson
In her lecture, ‘Green Swans and Blue Skies: Climate Change and Insolvency Risk for Financial Institutions’, Dr Sarra will engage with the challenge of climate-related financial risk. Prudential regulators and central banks recognize that the systemic nature of climate-related financial risk makes it an emerging vulnerability relevant to cross-border insolvency resolution. The Bank for International Settlements is concerned about potential ‘green swans’, where timing of climate change impacts is uncertain, but there is a high degree of certainty that risks will materialize and negatively affect the financial system. The IMF suggests bank supervisors can mitigate these risks by requiring banks to embed climate in their business strategy, risk management, and governance. Using examples of both hard and soft law tools in Brazil, the UK, and other jurisdictions, the lecture will reflect on the most effective regulatory strategies to mitigate risk and build on opportunities.