Climate change disrupts the business of power utilities. It does so in a variety of ways linked to both the need to reduce carbon to mitigate climate change and the imperative to adapt to a changing climate. Firstly, power utilities are impacted by the transition to a lower-carbon energy system. As a major contributor to greenhouse […]
Tag: Climate Change
Despite Ontario Policy Uncertainty, Global Movement on Climate Continues with European Leadership
The new Ontario government have brought much uncertainty to the fate of the provincial climate policies implemented by the Liberal government over their last term. The newly elected Progressive Conservatives announced their intention to dismantle the cap-and-trade system, which generated $2.8 billion in revenue for the province and were earmarked to be invested in initiatives aimed at reducing […]
Tracking Financial Flows in Support of Canada’s Transition to a Low-Carbon, Resilient Economy
Canada is continuing to advance its efforts in addressing climate change while developing a vision for diversifying and growing its economy. The climate-forward budgets being rolled out and funds being allocated to climate mitigation and adaptation efforts across various levels of government re-affirm Canada’s commitment to transition to a low-carbon and resilient economy. Below is a […]
Climate Disclosure: A Transition from Thinking to Action
“There has been a transition in thinking. And this is now beginning to be translated into action.” -Mark Carney’s speech, “A Transition in Thinking and Action,” delivered in early April at the International Climate Risk Conference for Supervisors in Amsterdam The Task Force on Climate-related Financial Disclosures (TCFD) recommendations continue to gain support and momentum in […]
Canadian Securities Regulators Report on Need for Better Climate Disclosure
On April 5, 2018, the Canadian Securities Administrators (the CSA) published CSA Staff Notice 51-354 Report on Climate Change-related Disclosure Project (the Notice). The Notice details the findings of its year-long review of Canadian climate disclosures. It summarizes the current state of climate-related reporting in Canada, discusses perspectives of both reporting companies (issuers) and users (investors, analysts, […]
Keep Calm and Disclose your Climate Change Risks
This Guest Post was Contributed by Mercedes Arango* In the last days, nine investment group leaders, including la Caisse de Dépôt et Placement du Québec (CDPQ), in partnership with UN Environment Finance Initiative (UNEP FI) created a workgroup to promote climate transparency in the financial markets, based on the recommendations of the Financial Stability Board’s (FSB) Task Force […]
Climate Change and the Financial Sector
Awareness and calls to action on climate change in the financial sector have gained significant momentum in the last few years, especially since the 2015 Paris Agreement and related private-sector initiatives. Increasing pressure is being placed on investors, including asset owners, asset managers, and banks due to the influence they have on the companies they own […]
2 Years After Paris Agreement, Support for Climate Disclosure is Surging
The final recommendations of the industry-led Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosure (TCFD) are continuing to gain momentum and attract support from companies, investors, rating agencies, stock exchanges, regulators, governments and others. Companies across sectors are endorsing the recommendations and some are beginning to implement them in their public disclosures. Global asset managers […]
CDPQ De-Risks Portfolio and Supports Low-carbon Economy with New Investment Strategy
The Caisse de dépôt et placement du Québec (CDPQ)—Canada’s second biggest pension fund, with more than C$285 billion under management—just announced a new investment strategy to support the targets of the Paris Agreement and contribute to the transition toward a low-carbon global economy. Referencing rapid climate-related policy, technological and market developments, CDPQ has decided to review the […]
Drive for Increased Climate-related Financial Disclosures Continues
Companies can no longer hide their climate risk. The Financial Stability Board (FSB) is helping to standardize the approach to reporting on climate-related risks and opportunities, imploring organizations to identify and strategize around climate issues and tell investors how they are making these determinations. A recent lawsuit against an Australian Bank for inadequate disclosure of climate risks, among […]