As the low-carbon transition accelerates, more companies are considering climate change in their operations and decision-making. Part of this shift is due to regulation. In many jurisdictions, governments are requiring businesses to disclose climate-related information in their periodic filings. Climate-related disclosures inform companies’ key stakeholders of how they’re approaching the challenges and opportunities related to […]
Use Case: Compliance
How to Kick-Start a Climate Action Plan
Companies big and small are thinking about producing climate action plans. Some are under pressure to do so from regulators or shareholders, while others are being encouraged by large companies in their value chains. Many more businesses may be driven by their values or by more prosaic concerns, like protecting themselves from climate-related financial risks. […]
Yes, the FSOC *is* a tool to address climate change
The regulatory body has an explicit duty to respond to emerging threats to the stability of the US financial system. Climate change is one such threat. US financial regulators have been playing catch up on climate risk for much of President Biden’s time in the White House. By some measures, they have made good progress since […]
Wall Street takes on the SEC’s climate disclosure rule
Lobbyists see plenty wrong with the US regulator’s proposal to mandate climate risk reports Wall Street isn’t a fan of the climate risk disclosure proposal from the US Securities and Exchange Commission (SEC). Quite the opposite, in fact. Comment letters sent by bank lobby groups to the SEC are loaded with criticisms and calls for […]
Narrating a Better Climate Story for the Mining Sector Podcast
The mining landscape is quickly changing as it pertains to climate issues making it hard to keep up. Manifest Climate has found that less than half of major mining companies are disclosing their climate-related opportunities while 90% are discussing their climate-related risks. Why is this the case and how can mining companies do better on […]
The ISSB’s Disclosure Standards: An Evolution in Sustainability and Climate Reporting
May 11th, 2022 In this webinar, we discuss the disclosure requirements included in the ISSB standards, the points of comparison and contrast with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), and how the standards could facilitate the harmonization of sustainability- and climate-related reporting across jurisdictions. Sign up below to watch our […]
Could banks’ role in carbon markets be threatened by high capital charges?
A new study by the International Swaps and Derivatives Association suggests market risk rules unfairly penalize carbon trading Carbon markets yo-yoed dramatically in the wake of Russia’s invasion of Ukraine. Futures on European Union Allowances (EUA), the derivatives contracts that facilitate the trading of greenhouse gas emissions in the EU, tumbled 29% from February 28 […]
Climate Disclosure and the SEC: Where Should Companies Begin?
April 4th, 2022 On March 21, 2022, the U.S.’s Securities and Exchange Commission (SEC) proposed a new rule that would require public companies to disclose climate-related information in their periodic SEC filings – including in their annual financial reports. If passed, the SEC’s proposal will have far-reaching consequences for all companies listed on U.S. exchanges. […]
What’s in the SEC’s New Climate Disclosure Rule Proposal
On March 21, the US Securities and Exchange Commission (SEC) ushered in a new era of climate risk disclosure for publicly-traded companies, which Manifest Climate explores in its latest white paper. In a 3-1 vote, the agency’s commissioners approved a 510-page proposed rule that would require companies listed on any US stock exchange to incorporate […]
The TCFD’s ‘carbon-related assets’ metric got a makeover in 2021. But is it any better now?
Expanding the definition has brought more assets in scope, but sheds no light on the relative riskiness of different exposures When the Task Force on Climate-related Financial Disclosures (TCFD) updated its implementation guidance last year, it promoted a host of new and repackaged climate metrics to the financial sector. One metric favored by the TCFD in […]