On May 26, Canada’s federal financial regulator released a draft guideline that outlines how nationally regulated financial firms should both manage and disclose their climate risks. As part of the draft guideline, the Office of the Superintendent of Financial Institutions (OSFI) lays out six climate governance and risk management principles, as well as six climate-related […]
Alex
How herd behavior could imperil the low-carbon transition
Financial stability risks could arise if banks and investors all take the same route to decarbonize their portfolios “When the herd moves, it moves.” UK Prime Minister Boris Johnson used this phrase in his July 7 resignation speech to describe how political support flooded away from him in the wake of one too many scandals. It is also […]
How the TCFD Stacks Up Against Other Sustainability Frameworks: A White Paper
There are plenty of sustainability frameworks for companies to adhere to when it comes to reporting their climate-related risks and opportunities. However, the Task Force on Climate-related Financial Disclosures (TCFD) ranks ahead of the others and is the gold standard when it comes to climate reporting. What are the most common sustainability frameworks? Our white […]
Money talks: How the emerging carbon market could help scale climate solutions
Your TCFD Journey in 3 Steps
The Task Force on Climate-related Financial Disclosures (TCFD) is a globally recognized framework that allows businesses to identify, manage, and respond to their climate-related risks and opportunities. The framework has broad buy-in from policymakers, world leaders, investors, and activists. Endorsed by the G20, many jurisdictions — including Canada, the US, and the European Union — […]
Homemade innovation: Canadian tech leaders share what drives them
Climate Change and Banks: How Banks are Building Climate Resilience
July 12th, 2022 Banks are under increasing pressure from investors, activists, and supervisors to develop climate risk management capabilities. They are also more focused than ever on climate risks and opportunities because of forthcoming regulations mandating reporting aligned with the Task Force on Climate-related Financial Disclosures (TCFD). In this discussion with Mary Obasi, Global Head […]
Has the backlash against financed emissions begun?
Climate finance tastemakers are pushing for financial institutions to put real-economy emissions reductions at the heart of their net-zero strategies “Financed emissions” are no longer in vogue. Last year, they were all the rage. The Net Zero Banking Alliance (NZBA), launched in April 2021, bounds its members together with a shared commitment to transition all the emissions […]
What’s in OSFI’s Climate Risk Management Guideline, and How Can Firms Prepare?
July 6th, 2022 In this webinar, we provide an overview of the climate risk guideline and what it means for Canada’s federally regulated financial institutions. Panelists discussed how companies can prepare to meet the supervisor’s expectations for Climate Risk Management and what tools and processes they should draw on to ensure they are fully aligned […]
The SEC Climate Disclosure Rule Should Align with the TCFD, Say US Companies
Over the last three months, hundreds of organizations and individuals have submitted comments to the US Securities and Exchange Commission (SEC) on its proposed climate risk disclosure rule. Many have made clear that they want it to align closely with the reporting framework established by the Task Force on Climate-related Financial Disclosures (TCFD). The SEC […]