Awareness and calls to action on climate change in the financial sector have gained significant momentum in the last few years, especially since the 2015 Paris Agreement and related private-sector initiatives. Increasing pressure is being placed on investors, including asset owners, asset managers, and banks due to the influence they have on the companies they own […]
Alex
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 […]
Uneven carbon pricing means guidance needed
CDPQ De-Risks Portfolio and Supports Low-carbon Economy with New Investment Strategy
The Caisse de dépôt et placement du Québec (CDPQ)—Canada’s second biggest pension fund, with more than C$285 billion under management—just announced a new investment strategy to support the targets of the Paris Agreement and contribute to the transition toward a low-carbon global economy. Referencing rapid climate-related policy, technological and market developments, CDPQ has decided to review the […]
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 […]
Companies can no longer hide their climate risk
Ontario’s First Cap and Trade Auction Brings in $472M
On March 22, 2017, Ontario held its first greenhouse gas emissions allowance auction under the cap and trade program. The results, released earlier this week, proved a strong start to Ontario’s carbon market with 100% of current 2017 vintage allowances being sold at a price of $18.08. The auction generated $472,031,155 in proceeds, an amount consistent with previous estimates that […]
2017 Budget – Creating Canada’s Clean Growth Economy
The 2017 Budget reiterated the Federal Government’s commitment to decarbonizing the economy with significant investments planned in green infrastructure and the growth of clean technology sector. This solidified the progress from 2015 and 2016 that started with Canada’s commitment to the Paris Agreement, followed by the Vancouver Declaration on Clean Growth and Climate Change and the […]
CSA to Review Climate-Related Disclosure and Reporting Requirements
MARCH 21, 2017 – The Canadian Securities Administrators announced their intention to review the climate-related disclosures prepared by large reporting issuers listed on the Toronto Stock Exchange. The three key components of this project include: This announcement comes on the heels of the London Stock Exchange Group’s guidance document that declared the importance of issuers integrating climate change-related […]
Carbon Pricing Developments Across Canada
Carbon pricing was a major topic of discussion in the recent Pan-Canadian Framework on Clean Growth and Climate Change, with the federal government requiring provinces and territories to adopt a carbon price by 2018. The Framework gives provinces the choice of carbon tax, cap and trade, or a combination with common scope of emissions coverage. Carbon […]