Canada issues climate disclosure guidance The Canadian Securities Administrators (CSA) has become the latest securities regulator to step forward with guidance for quoted companies on climate change risk disclosures. CSA Staff Notice 51-358 Reporting of Climate Change-related Risks is intended to assist companies in identifying and improving their disclosure of material climate change risks. The notice […]
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The warnings have been coming thick and fast. From the world’s central banks, to leading academics and regulators – many believe the global financial system faces a serious and potentially catastrophic fallout from climate change risks.
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Prosecutors allege Exxon pressured witnesses in climate case US prosecutors have accused Exxon Mobil of harassing investors and intermediaries in the lead up to a forthcoming court battle over whether the energy giant deliberately misled people on the cost of climate change to its business. A lawyer for the New York Attorney General has called […]
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Corporate climate ignorance poses threat to pensions Nearly half of major companies in the highest polluting sectors worldwide are failing to weigh up how climate change will affect their businesses. The findings come from the State of the Transition report compiled by the Transition Pathway Initiative, an organisation backed by asset owners and fund managers, […]
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UK funds braced for tougher regulatory stance on climate UK pension funds and listed companies are to be handed a new list of reporting requirements, following publication of the UK government’s Green Finance Strategy at the start of July. The new report outlined “ambitious actions” which include the requirement for better quality disclosures for occupational […]
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Climate change targets and a commitment to support the United Nations-led Paris Agreement have been agreed by US companies and investors at a press conference at the UN’s COP 22 Climate Change meeting in Marrakesh, Morocco. Signatories want to send a strong message to US politicians, including President-elect Donald Trump, that, whatever the political stance, they would be […]
Read MoreThis year’s World Economic Forum (WEF) annual meeting in Davos gave political and business leaders an opportunity to take stock of the United Nations (UN) 2030 Sustainable Development Goals and the Paris Climate Agreement (COP21) agreed last year. Ban Ki-moon, UN Secretary-General, told participants said now it is time to act. “The only agenda greater than […]
Read MoreThe Financial Stability Board (FSB) has announced the members of an industry-led Task Force on Climate-related Financial Disclosures (TCFD), which will be chaired by Michael Bloomberg. The Task Force was announced last month, as reported by Manifest. The Task Force will develop voluntary, consistent climate-related financial disclosures for use by companies in providing information to lenders, insurers, investors and other […]
Read MoreRailPen would very much like to know what their fund managers are doing to address this key sustainability issue. And to help them with their review, they have worked with HSBC and Linklaters to develop a 77 question Risk Audit covering a four broad topics: legal, investment strategy, client demand issues and asset categories. The […]
Read MoreThis month’s guest article is by Professor Jill Solomon, Department of Management, King’s College London There is global scientific consensus that climate change is progressing far more rapidly and with far greater severity than previously anticipated. Climate change is a critical issue for business, for financial institutions and not least for the pension fund industry. […]
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