Alex
Australia’s Climate Disclosure Rule, HSBC Halts New Oil & Gas Financing, and More
The top five climate risk stories this week. Australia kicks off climate disclosure rulemaking The Australian government is seeking public input on climate disclosure requirements for companies it plans to release in 2023. The consultation, issued Monday, describes the government’s pledge to make companies report information on their climate governance, strategy, risk management, and metrics […]
Emissions Reporting is About More Than Numbers
International climate action must be guided by clear, credible data. When it comes to climate mitigation targets, this means accurate greenhouse gas (GHG) emissions accounting and verification. There’s a lot more to producing high-quality emissions disclosures than crunching numbers, however. Organizations have to set up policies and processes for gathering emissions data from across business […]
Mastering TCFD Will Pay Dividends in 2023’s Regulatory Landscape
Vanguard Exits NZAMI, Federal Reserve Unveils Climate Risk Guidance, and More
The top five climate risk stories this week. Vanguard exits Net Zero Asset Managers initiative The world’s second-largest asset manager has quit a leading climate finance alliance in a bid to resolve “confusion” over its net-zero approach. On Wednesday, Vanguard — which has USD$7.1trn in assets under management — said it is withdrawing from the […]
Climate Risk Regulation Rundown: November 2022
What happened in climate-related financial regulation last month, and what’s coming up. Americas The US Securities and Exchange Commission (SEC) charged Goldman Sachs Asset Management (GSAM) for failing to honor policies and procedures linked to three environmental, social, and governance (ESG) products. In an order published November 22, the agency said GSAM will pay a […]
Banks Lag on Physical Risk Management, Extreme Weather Losses Hit $260bn, and More
The top five climate risk stories this week. Stress test reveals Australian banks’ climate risk exposure Climate change may render Australian banks less resilient to economic shocks, a stress test conducted by the country’s financial regulator suggests. The Australian Prudential Regulation Authority (APRA) published the findings of its inaugural Climate Vulnerability Assessment (CVA) on Wednesday. […]
Decision-Usefulness of Companies’ TCFD Disclosures Lacking
Canada Banks Failing on Net-Zero Goals, Goldman Sachs Charged for ESG Failures, and More
The top five climate risk stories this week. Canada banks failing on net-zero goals None of the six largest Canadian banks are on track to achieve their net-zero goals, according to a report out of advocacy group Investors for Paris Compliance (IPC). BMO, CIBC, National Bank, RBC, Scotiabank, and TD have all pledged to align […]
CDP Reporting Annual Disclosure Updates for 2023
Today’s climate disclosure landscape is quickly evolving. Amid the emergence of regulatory climate disclosure requirements, and in order to remain relevant, well known voluntary disclosure standards are changing. CDP, the sustainability disclosure non-profit, is one example. The organization updates its disclosure framework annually, adjusting its coverage of key climate issues, as well as the contents […]