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 […]
Tag: Climate Change
London Stock Exchange Joins Call for Greater Disclosure of Climate Risks
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. […]
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 […]
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 […]
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 […]
Laura Zizzo Named Among Canada’s 2017 “Clean50 Leaders”
We are pleased to announce that Laura Zizzo (Founder and CEO) has been named as one of Canada’s “Clean50” for 2017! The Clean50 award recognizes sustainability leaders across Canada and their roles in advancing the low-carbon, clean economy. Laura was recognized for her leadership as a thought leader, lawyer and consultant focused on climate change-related risks and opportunities, and promoting climate-readiness […]
Financial Services Sector Uniquely Placed to Address Climate Risk
Industry leaders continue to urge companies to integrate climate change into business strategies, financial disclosures and risk management processes. Mark Carney opted to focus on climate risk when addressing the Toronto Board of Trade in July 2016. Moody’s will use national climate commitments in its analysis of the credit implications of carbon transition risk. And Global […]
Ontario Releases Ambitious Climate Change Action Plan
This morning, Ontario Premier Kathleen Wynne released Ontario’s Climate Change Action Plan (the “Plan”). The Plan outlines how the proceeds of Ontario’s Cap and Trade Program – estimated at between $5.9B and $8.3B over the next four years – will be invested in a variety of carbon reduction initiatives to meet legislated GHG reduction targets […]