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 […]
Tag: TCFD
London Stock Exchange Joins Call for Greater Disclosure of Climate Risks
The London Stock Exchange Group (LSEG) recently published a guidance document, adding its voice to the choir declaring the importance of issuers integrating climate change-related information into investor reporting and communications, stating: Investors want to understand how issuers are responding to long-term and macroeconomic trends such as climate, demographic and technological change as well as political developments. […]
TCFD Releases Phase 2 Report and Recommendations
Today, FSB’s Task Force on Climate Financial Disclosure (TFCD) released its Phase II report with recommendations for climate-related voluntary disclosures within mainstream financial reporting. The TFCD states clearly that climate change is “one of the most significant, and perhaps most misunderstood, risks that organizations face today” and that “the long-term nature of the problem makes it uniquely […]
Momentum for Climate Disclosure Continues as Investors Push
Major Canadian institutional investors including the Canada Pension Plan Investment Board, Bank of Montreal’s Global Asset Management group and the Ontario Teachers’ Pension Plan have announced support for shareholders’ resolutions urging Exxon Mobil Corp. and Chevron Corp. to “stress test” their operations against a climate-adjusted future. While Exxon and Chevron both conduct their own analysis of climate […]
Enforcing Transparency on Climate Risk: Recent Developments
As climate-related concerns and disclosures continue to gain profile, recent weeks have seen numerous developments aimed at encouraging better disclosure of climate risks and enforcing transparency requirements. The U.S. Securities and Exchange Commission ruled that ExxonMobil’s (Exxon) shareholders are entitled to important climate change information. States across the U.S. are banding together to explore the […]
Paper: Canada Electricity Generation and Transmission Sectors’ Action and Awareness
This primer provides an overview of the concept of embodied carbon and describes how life cycle assessment (LCA) can be used to calculate and minimize life cycle GHG impacts from construction projects. It draws on the lessons learned from a recent case study that calculated the embodied carbon of a new commercial building in Toronto […]
Paper: Stormwater Management in Ontario: Legal Issues in a Changing Climate
The rise in extreme weather events in Ontario and resulting strain on municipal infrastructure have brought increased attention to stormwater management at all orders of government. Recent class action lawsuits against municipalities, conservation authorities and the Province for flooding, both after extreme rainfall events and on a recurring basis due to alleged systematic problems, are […]