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. […]
Alex
News Update: Ontario Green Bank Regulations Finalized
O. Reg. 46/17: Ontario Climate Change Solutions Deployment Corporation (OCCSDC) enters into force. On February 17th, the Ontario government released the final regulations that will govern the Ontario Climate Change Solutions Deployment Corporation (OCCSDC), commonly referred to as the “Green Bank”. These regulations—filed under the Development Corporations Act, R.S.O. 1990, c. D.10— establish the OCCSDC as a corporation […]
Building Climate Competency in Corporate Boardrooms
Corporate boards are not adequately equipped to deal with a changing climate, according to recent studies. There is growing interest in companies’ exposure to climate risk and how long-term shareholder value could be affected. As our understanding of climate impacts on business continues to grow, investors are pushing for climate-competent boards to better manage risk […]
Climate Risks Rank Prominently in WEF’s Global Risks Report
The latest Global Risks Report highlights climate-related concerns as some of the more notable risks for 2017. In the 12th edition of the Global Risks Report, the World Economic Forum stated that risks from the environment category, including extreme weather events, failure of climate change mitigation and adaptation and natural disasters are “more prominent than ever” with linkages to other important […]
Pan-Canadian Framework on Clean Growth and Climate Change Outlines Coordinated Plan for Significant Emissions Reductions
Following the First Ministers’ Meeting on December 9th, Canada’s First Ministers issued a joint communiqué and released the Pan-Canadian Framework on Clean Growth and Climate Change (the “Framework”). Governments across Canada will, for the first time ever, work under a coordinated plan to meet national climate targets and adapt to the impacts of climate change. All but two[1] provinces and […]
Homeowners and Businesses Increasingly Expected to Take Flood Risk Reduction into Own Hands
Floods are one of the most expensive natural disasters endured by North Americans today. According to the Insurance Bureau of Canada, an estimated 1.7 million Canadian homes are at risk of flooding. Flood events are also estimated to cost US companies US$6 billion in insured losses annually. And Canada is only getting wetter; a trend that has been […]
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 […]
COP 22: From Agreement to Implementation
A year after the monumental Paris COP 21, the UN Climate Talks in Marrakech concluded successfully, despite looming uncertainties related to Donald Trump’s Presidential election win and produced plans for implementation of the newly enforce Paris Agreement. The meetings also produced the high-level Marrakech Action Proclamation, where parties collectively stated that “extraordinary momentum on climate change […]
Decarbonisation, Electrification and Early Action: Canada’s 2050 Strategy for a Low-Carbon Economy
With COP 22 coming to a close in Marrakech last week, the Government of Canada quietly released a report titled Canada’s Mid-Century Long-Term Low-GHG Development Strategy at the conference. The report outlines the path required to reach the net emissions decrease of 80% by 2050 from 2005 levels; consistent with Canada’s commitments to the Paris Agreement to […]
Why Climate Action Will Continue, Despite Trump
Risk management, a national strategy and plan, oversight and governance, transparent metrics and targets – Canada now has a proposed legal framework for meeting our global climate commitments; and it looks rather like the recommendations of the Task-Force on Climate-Related Financial Disclosures (TCFD). Today, Canada’s federal government tabled long-awaited legislation outlining a roadmap for meeting […]