2016 began - as recorded here on Forbes - noting that climate change was becoming very real in the financial world. As we head towards the end of what has been a tumultuous year, the Financial Stability Board (FSB) is clear the message needs to be reinforced, not dismissed.
Corporations, especially those in the financial and energy sectors, should provide investors with clear and systematic disclosure of the risks that climate change poses to their future economic health, a task force reporting to Bank of England Governor Mark Carney recommended Wednesday.
Investors need more information about the risks companies face from global warming so they can fund development of the new technologies that are needed to control climate change and mitigate its effects, a task force said Wednesday.
A task force led by Michael Bloomberg and backed by Mark Carney has urged companies to disclose to investors the impact of climate change on their businesses.
Swiss Re announced on Wednesday that it will adopt the climate-related financial disclosure recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).
The launch of TCFD's recommendations were today hailed as a landmark moment for investors campaigning to have climate considerations integrated into mainstream reporting.
After a year of intensive work, the Task Force on Climate-related Financial Disclosures (TCFD) today laid out its eagerly-awaited recommendations designed to help standardise and mainstream considerations about the impacts of climate change on companies.
Companies should use a range of existing, publicly-available climate-related scenario analysis or develop their own in order to assess the risks posed to their business by climate change, according to the Financial Stability Board (FSB) Task Force on Climate-Related Financial Disclosures (TCFD).
A key aim of the FSB Task Force is to encourage disclosures that "would enable stakeholders to understand better the concentrations of carbon-related assets in the financial sector and the financial system's exposures to climate-related risks."
Bank of England Governor and Chair of the Financial Stability Board Mark Carney has said the newly released report from the Task Force on Climate Related Financial Disclosures (TCFD) represents a breakthrough in managing the risks and opportunities related with climate change.
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