Companies are touting their climate credentials in increasing numbers, with many disclosing plans that show their commitments to a green, climate-safe world. In its recent status report, the Task Force on Climate-related Financial Disclosures (TCFD) — the world’s premier climate reporting framework — found that around half of the 1,400 companies it reviewed included information […]
Alex
UK Anti-Greenwashing Rules Proposed, RBC & Deutsche Bank’s Emissions Targets, and More
The top five climate risk stories this week. Climate finance alliance loosens ties with UN net-zero campaign The Glasgow Financial Alliance for Net Zero (GFANZ) says its members do not have to follow strict fossil fuel policies laid out by the United Nations-backed Race to Zero (RtZ) campaign. In a progress report released Thursday, GFANZ […]
VW Sued Over Climate Disclosure Failures, ISSB Emissions Disclosure Requirements, and More
Banks don’t have to halt fossil fuel financing, net-zero alliance says Banks that are part of the world’s largest climate finance alliance don’t have to curb their fossil fuel financing as demanded by a leading net-zero campaign. In an open letter released Monday, Tracey McDermott, chair of the Net-Zero Banking Alliance (NZBA), says the group […]
Creating Climate Transition Metrics that Matter
The climate metrics zoo is getting wilder. Increasing numbers of banks and other financial institutions are disclosing climate indicators and quantifying how their activities support net-zero goals. But the rapid spread of financed emissions data, portfolio alignment tools, and other climate gauges has yet to significantly change the financial system’s approach to the low-carbon transition. […]
Putting Climate Disclosures on a Level Playing Field
Climate Action Plans: Setting Goals and Overcoming Obstacles
October 18th, 2022 Companies big and small are considering how to take climate action. However, many do not know where to start, or what climate goals to target. Others may know what actions to take, but are unclear on the practices and processes they should put in place to implement them. This is why setting […]
Asset Managers, Owners Lack Data, Systemic Climate Risks, and More
The top five climate risk stories this week. Asset managers, owners lack data for climate reports — TCFD Two-thirds of asset managers and owners surveyed by the Task Force on Climate-related Financial Disclosures (TCFD) say poor data from investee companies makes it hard for them to do climate reporting. In its latest paper on climate […]
How Regulation Can Encourage Climate Action
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 […]
US Establishes Climate Risk Group, Climate Risks Ignored in Disclosures, and More
The top five climate risk stories this week. US financial regulators establish climate risk group The Financial Stability Oversight Council (FSOC), a panel of federal regulators charged with monitoring the US financial system, announced the formation of a committee dedicated to exploring climate threats on Tuesday. The Climate-related Financial Risk Advisory Committee (CFRAC) will collect […]
Climate Risk Regulation Rundown: September 2022
What happened in climate-related financial regulation last month, and what’s coming up. Americas The Federal Reserve will conduct a “pilot climate scenario analysis exercise” of six Wall Street banks in early 2023. Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley, and Wells Fargo will all take part in the exercise. In a […]