Climate Disclosure Framework Creates a Better Environment for Investors
By Stephanie Leaist
Originally posted on The Globe & Mail
Stephanie Leaist is a member of the Task Force on Climate-related Financial Disclosures, and managing director, Head of Sustainable Investing at Canada Pension Plan Investment Board
A year ago there was an air of optimism around the Paris Agreement to limit global warming. Driven by a sense of urgency, encouraging action has since been taken by policy makers, regulators, companies and investors, including the Financial Stability Board-led Task Force on Climate-related Financial Disclosures (TCFD). While progress has been made, in many ways, we’ve just begun.
Climate change poses an unprecedented challenge for investors. Its effects are pervasive and dynamic. The changing planet creates physical risks, such as water scarcity, biodiversity and extreme weather. Human reactions must also be considered, including technological innovation and carbon-emission regulations.
