The top five climate risk stories this week 1) Basel Committee finalizes climate risk checklist Global regulators published Wednesday a list of principles on tackling climate-related financial risks for banks and their watchdogs. The guidance, made up of 12 principles for lenders and six for supervisors, covers how climate change should be factored into firms’ corporate governance, […]
Alex
GFANZ gets serious
The umbrella group of climate finance alliances has rolled out what could be a game changing new framework on transition plans Yesterday marked what could be a decisive turning point in the effort to marshal financial institutions in support of net-zero emissions goals. First, the UN-backed ‘Race to Zero’ (RtZ) campaign — an over 10,000 strong coalition […]
Manifest Climate has been selected to join Unreasonable CHANGE
Manifest Climate has been selected to join Unreasonable CHANGE, a new strategic collaboration between Accenture and Unreasonable, to support entrepreneurs building solutions to global sustainability challenges.
Unreasonable CHANGE is a three-year strategic collaboration, built on the shared belief that supporting social entrepreneurs innovating for a sustainable future, is not only a moral imperative but also an unprecedented business opportunity. Together, Accenture and Unreasonable believe that the level of systemic change we need to create a sustainable future is only possible through […]
Staying Current with Climate Change, hosted by RMA
June 6th, 2022 This session covered key trends in the climate change conversation. Panelists provided an overview of the climate risk management landscape and discussed important global initiatives and regulatory developments, including RMA’s comment letters to the OCC and Basel. The panel also forecasted the path ahead for the industry, including what may be on […]
Poor Sustainability Data May Hinder Canada’s Climate Transition
Canada has a sustainability data problem. Until it’s solved, financial institutions will struggle to efficiently allocate capital in support of the country’s climate transition. That’s the conclusion of a new report out of Queen’s University’s Institute for Sustainable Finance (ISF), a network of professionals from across academia, the private sector, and government. The institute said […]
Weekly round-up: June 6-10
The top five climate risk stories this week 1) Reflect climate risks in bank supervisory ratings — report US regulators should factor climate risks into banks’ supervisory ratings, a progressive think tank says. Supervisory ratings are assigned to firms by their primary supervisor after on-site examinations. A bank with a low rating must take prompt […]
Regulatory orthodoxy and the hunt for climate risk differentials
Prudential frameworks are ill-suited to weighing the relative risks of green and non-green assets Bankers are floundering in their search for climate risk differentials — the great white whale of climate finance. Finding these differentials could help justify the introduction of ‘green supporting factors’ (GSF), which lower capital requirements for climate-friendly assets, and ‘brown penalizing […]
Climate Trends: Strengthening Transition Plans Climbs to the Top of the Regulatory Agenda
A transition plan is the backbone of an organization’s climate strategy as it sets out how a company, public body, or financial institution intends to adapt to a low-carbon economy. Organizations that make climate commitments — like greenhouse gas (GHG) emissions reduction targets — and don’t produce transition plans are failing their stakeholders. This is […]
Weekly round-up: May 30 – June 3
The top five climate risk stories this week 1) DWS Group chief resigns after greenwashing raid The head of global asset manager DWS Group said on Wednesday he would resignfollowing a raid on the company’s Frankfurt offices by German authorities investigating greenwashing claims. Asoka Woerhmann, who has captained the near $1 trillion asset manager since 2018, […]