Over the next 20 years, we will experience receding ice cover, heatwaves, rising sea levels, wildfires, storm surges and other extreme weather events. These climate impacts could cause significant losses, damage, or disruptions to our food systems, drinking water, infrastructure, and the energy systems that fuel our modern lives. They may also disturb our forests and ecosystems, […]
Tag: climate disclosure
BlackRock’s Climate Warning Needs to Match their Climate Actions
BlackRock CEO Larry Fink’s latest annual letter to CEOs “A Fundamental Reshaping of Finance” immediately made waves in the financial community and the media because of its urgent call for all companies to recognize and account for the risks of climate change. The letter said the failure to account for these risks would put billions […]
Climate Disclosure is Up Across Sectors, but Additional Progress Urgently Required
A growing number of climate disclosures are identifying more extensive climate-related risks, but also revealing the opportunities may greatly outweigh the costs for many organizations. Recent disclosure reports have confirmed this trend and identified that continued progress is required to improve information for investors and help drive towards future financial sustainability. On June 4, 2019, […]
A Look at the Impacts Highlighted in Canada’s Changing Climate Report
On April 2, 2019, the federal government released Canada’s Changing Climate Report, the first in a series of reports outlining the impacts of climate change in Canada. It immediately generated national news for reporting “temperature in Canada has increased at roughly double the global mean rate” with northern Canada warming “roughly three times” faster than the […]
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 […]
To the Expert Panel on Sustainable Finance
Looking ahead for the long-term The work by the Expert Panel on Sustainable Finance was a welcome initiative by the federal government. Manifest hopes that this initiative will be successful in transitioning Canada’s economy to one that is based on less carbon intensive assets and is more resilient to the impacts of climate change. We […]
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, […]
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 […]
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 […]