On Thursday, the Bank of Canada released its 2019 Financial System Review, and for the first time it listed climate change as one of the main risks to Canada’s economy and financial system. The inclusion of climate change as one of six vulnerabilities listed in the Financial System Review (FSR) comes a few weeks after the Bank […]
Alex
The work of the NY Common Fund’s Decarbonization Advisory Panel (Part 3)
The work of the NY Common Fund’s Decarbonization Advisory Panel (Part 2)
The work of the NY Common Fund’s Decarbonization Advisory Panel (Part 1)
Expensive and Now Frequent Once-a-Century Floods Shifting Conversation
As parts of Ontario, Quebec, and New Brunswick suffer from historic floods after recently cleaning up from once-in-a-century floods, political leaders are no longer taking the “we will rebuild at all costs” default position – a potential major shift in the climate adaptation conversation. While touring flooding in Constance Bay, Ontario Premier Doug Ford said of […]
Climate Change Litigation Mounts as Companies Face Increased Exposure
Over 1,200 climate change cases have been filed in more than 30 jurisdictions against governments and corporations, including 950 in the United States, according to a newly released report by the global law firm Clyde & Co. Cases filed in the US, Australia, the UK, the EU, New Zealand, Brazil, Spain, Canada, and India either […]
Corporate Directors Facing Increased Exposure to Climate Change Litigation
Corporate directors face an increasing climate liability exposure, according to an updated legal opinion by an Australian think tank, the Centre for Policy Development (CPD). The original 2016 legal opinion by Noel Hutley SC and Sebastian Hartford Davis found that it was “likely to be only a matter of time before we see litigation against a director who has […]
Canada is Warming at Twice the Global Average, Demonstrates Urgent Need for Adaptation and Deep Decarbonization
Canada’s climate is warming at nearly twice the global average rate and Northern Canada is warming even faster, according to the federal government’s sobering national assessment on the impacts of climate change in Canada. Canada’s Changing Climate Report is yet another warning to governments and businesses that we must urgently adapt to the changing climate to […]
Significant Step to Making TCFD a Requirement
Over 2250 financial market participants will have to report on TCFD recommendations of governance, strategy and risk/opportunity in 2020. This is the next step in the PRI’s support of the disclosure framework. The PRI (Principles of Responsible Investing) has announced that several TCFD-aligned disclosure indicators will move from being voluntary to be mandatory in 2020 – two […]
