Climate risk disclosure. Medical search. Frequent questions

COP28, the annual UN climate conference, will convene from 30 November to 12 December 2023 in Dubai, United Arab Emirates (UAE). (unpri.org)
FASB is also seeking comments, until June 06, 2023, on the proposed Accounting Standards Update that intends to improve the accounting for, and disclosure of, certain crypto assets. (moodysanalytics.com)
On September 12, 2023, SEC Chairman Gensler testified before the Senate concerning a number of significant issues for the SEC. Among them was the SEC's still-pending rule on climate risk disclosures, which was first proposed. (jdsupra.com)

In other words, companies with high climate risk - high emissions, energy-intensive products, insurance companies - are less valuable to them. (energyandcapital.com)
WASHINGTON, D.C. (January 27, 2010) - The U.S. Securities and Exchange Commission today issued new interpretive guidance that clarifies what publicly-traded companies need to disclose to investors in terms of climate-related 'material' effects on business operations, whether from new emissions management policies, the physical impacts of changing weather or business opportunities associated with the growing clean energy economy. (edf.org)
Publicly traded companies in the U.S. would have to annually report the greenhouse gas emissions for which they are directly responsible - known as Scope 1 and 2 emissions - under sweeping climate-risk disclosure regulations the SEC proposed March 21. (spglobal.com)
Companies would need to rely on third-party climate experts to assess their emissions and climate vulnerabilities, Peirce predicted, inviting inconsistent models and potentially flawed data. (spglobal.com)
Investors have demanded more transparency in financial filings on how companies contribute to rising greenhouse gas emissions and what climate change means to their bottom line. (spglobal.com)
The risks fall into three broad categories: regulation of greenhouse gas ("GHG") emissions, physical risks like rising sea levels and increased flooding and drought, and market changes driven by environmentally discerning investors and consumers. (daypitney.com)
One of the major highlights of the recent COP26 climate change conference in Glasgow was the pledge by the Net-Zero Banking Alliance, comprising nearly a hundred banks and representing roughly 40% of global banking assets, to transition greenhouse gas (GHG) emissions "from their lending and investment portfolios to align with pathways to net-zero by 2050 or sooner. (deloitte.com)
At the 28th "Conference of the Parties," the two-week global climate gathering that begins Thursday, progress is expected on goals to triple renewable energy capacity, reduce methane emissions, finalize rules for high integrity carbon credits and stand up a "loss and damages" fund to compensate lower-income countries for natural disasters and historical climate inequities. (impactalpha.com)
Similarly, as governments, consumers, and business partners around the world seek to limit greenhouse-gas emissions, the risks facing certain carbon-intensive companies may be under-appreciated. (clarionindia.net)
In order to assess a company's exposure to climate policy risk, investors need to know both its direct emissions and its "scope three" emissions from its upstream supply chain and downstream products. (clarionindia.net)
Some have suggested that the Supreme Court's decision in West Virginia v. EPA means that the SEC has no legal authority to require disclosure information related to climate-related risks, including emissions. (clarionindia.net)
WSP USA climate risk and finance experts identify key potential implications for companies' greenhouse gas emissions and climate risk management, and reporting. (wsp.com)
Asset managers are also required to publish two annual reports that show how climate-related risks are considered in the management of their investments and that they disclose the Scope 1, 2 and 3 emissions of their products," Strachan says. (insiderengage.com)
If you think that's a big undertaking for counting Scope 3 emissions, just imagine how complicated it will get for assessing the physical risk from eight or more chronic and acute hazards, applying climate change modelling in different countries and considering the range of ways the weather and the environment can disrupt supplies, demand, workforces, critical services. (xdi.systems)
Metrics and targets are as important for physical risk as for emissions reporting. (xdi.systems)
Among those risks, specifically those dealing with GHG, the SEC-proposed rules would mandate required disclosure of a registrant's Scopes 1 and 2 emissions and Scope 3 emissions if applicable, on the Form 10-K disclosures. (corcentric.com)
What's "going around" are changes in the global climate and local weather, driven by greenhouse gas emissions that accumulate in our atmosphere and lead to rising temperatures. (nordea.com)
Both of these processes, changes in climate and weather (physical risk) and efforts to curb emissions in all sectors (transition risk), make up climate risk, and they have started to "come around" to the sectors, companies and organizations that comprise the global economy. (nordea.com)
CDP's climate change program aims to reduce companies' greenhouse gas emissions and mitigate climate change risk. (wikipedia.org)
One of the greatest values of the annual report, first released in June 2011, is to city leaders who can identify peers who are addressing similar risks and issues with new and innovative strategies for reducing carbon emissions and for mitigating risk from climate change. (wikipedia.org)
Over 300 investors with US$25 trillion in assets under management ask the world's highest emitting companies to take three specific actions in response to climate change: Make emissions reductions (year-on-year) Publicly disclose emission reduction targets Make ROI-positive investments in projects CDP launched a new research series at the beginning of 2015, taking a sector by sector approach. (wikipedia.org)

We find that environmental shareholder activism increases the voluntary disclosure of climate change risks, especially if initiated by investors who are more powerful (institutional investors) or whose request has more legitimacy (long-term institutional investors). (harvard.edu)
We also find that companies that voluntarily disclose climate change risks following environmental shareholder activism achieve a higher valuation, suggesting that investors value transparency with respect to climate change risks. (harvard.edu)
While investors and businesses continued to address climate, advances were blunted by lack of appropriate US government intervention. (bostoncommonasset.com)
This motivated Boston Common to sign onto the 2021 Global Investor Statement on Climate Change supported by 456 investors with over $41 trillion in assets. (bostoncommonasset.com)
Anne Stausbol, CEO of the $200 billion California Public Employee's Retirement System (CALPERS), said 'Ensuring investors are getting timely, material information on climate-related impacts, including regulatory and physical impacts, is absolutely necessary. (energyandcapital.com)
The Commission's chair and some members and staffers argued the proposed risk disclosure requirements would help issuers more efficiently and effectively disclose such risks to investors who need reliable information about climate risk to make informed investing decisions. (acoel.org)
The 510-page announcement , titled "The Enhancement and Standardization of Climate-Related Disclosures for Investors," includes the proposed rule (which starts on page 469). (acoel.org)
Provide consistent, comparable, and reliable - and therefore decision-useful- information to investors to enable them to make informed judgements about the impact of climate-related risks on current and potential investments. (acoel.org)
The Commission has broad authority to promulgate disclosure requirements that are "necessary or appropriate in the public interest or for the protection of investors. (acoel.org)
The Commission determined that, after consideration of this statutory standard, disclosure of information about climate-related risks and metrics would be in the public interest and would protect investors. (acoel.org)
Today's decision comes after formal requests by leading investors for the SEC to require full corporate disclosure of wide-ranging climate-related business impacts - and strategies for addressing those impacts - in their financial filings. (edf.org)
Investors hailed today's new guidance and said it goes a long way to meeting disclosure needs outlined in their petition. (edf.org)
Ensuring that investors are getting timely, material information on climate-related impacts, including regulatory and physical impacts, is absolutely essential. (edf.org)
Today's vote is a clarion call about the vast risks and opportunities climate change poses for US companies and the urgency for integrating them into investment decision making," said Mindy Lubber, president of Ceres and director of the Investor Network on Climate Risk, a network of 80 institutional investors with $8 trillion in collective assets. (edf.org)
With this guidance investors can make more sound decisions based on better information - and businesses will have a level-playing field with clear standards and expectations for disclosure. (edf.org)
Such climate change impacts pose growing risks for investors. (spglobal.com)
Jake Kuyer, Associate Director, and Sarah Nelson, Senior Economist at Oxford Economics discuss how investors can understand the risks of climate change in their guest post with Advisorpedia. (oxfordeconomics.com)
MAI: But investors welcome the push for enhanced disclosures. (iowapublicradio.org)
She says investors want to know how climate change will impact businesses. (iowapublicradio.org)
MICHELLE EDKINS: We need to understand how companies are addressing those risks so that we can understand the implications for our clients as investors in companies. (iowapublicradio.org)
Investors' apparent lack of attention could become a significant source of market risk. (omfif.org)
A consistent set of global disclosure standards, taking into account countries' legal and institutional framework, will enable markets to accurately price climate-related risks and allow for better-informed decisions by investors and other stakeholders. (omfif.org)
Both the SEC and the ASTM publications respond to growing concerns among investors and regulators about risks posed by climate change. (daypitney.com)
However, the two publications are indicative of a growing priority among investors with respect to the investigation and understanding of potential climate change impacts on businesses. (daypitney.com)
and (3) what actions, if any, SEC has taken to identify climate-related supply chain risk information that investors may need. (dianepublishing.net)
The steps outlined here can also provide a solid foundation for other enterprisewide climate change strategies and commitments, including reporting progress to regulators, investors and other stakeholders. (deloitte.com)
On the contrary, adopting standardized disclosure rules is central to the SEC's mission of protecting investors and the public interest, and is well within the agency's expertise. (clarionindia.net)
On March 21, the SEC announced actions for "The Enhancement and Standardization of Climate-Related Disclosures for Investors. (wsp.com)
The SEC noted that investors "have expressed a need for more consistent, comparable and reliable information about how [a publicly listed company] has addressed climate-related risks when conducting its operations and developing its business strategy and financial plan. (wsp.com)
Investors want transparency into the effects of climate-related events and trends relating to both physical and transition risk on a company's financial performance. (marsh.com)
Additionally, unlike claims under Section 11 and 12(a)(2), which are generally limited to disclosures made in connection with offerings of securities within the prior three years, claims under Section 10(b) and Rule 10b-5 can be brought by investors in previously issued securities traded on the secondary market (including common stock). (clearygottlieb.com)
Investors, regulators, NGOs and other stakeholders exert pressure on corporations to adopt strategies to address climate-change risks and opportunities. (degruyter.com)
Recently, the drive for increased corporate accountability was strongly reinforced by the widespread recognition of climate change as a significant financial risk to corporations, investors, and global financial stability. (degruyter.com)
The proposed amendments would require that an entity provide enhanced disclosures for both annual and interim reporting periods, which would provide investors with relevant information to analyze and assess the exposure and risk of significant individual crypto-asset holdings. (moodysanalytics.com)
At the time CDP had just 35 investors signing its request for climate information and 245 companies responding. (wikipedia.org)
This information is helpful to investors, corporations, and regulators in making informed decisions on taking action towards a sustainable economy by measuring and understanding their environmental impact and taking steps to address and limit their risk to climate change, deforestation and water security. (wikipedia.org)

Today, Citi released our 2020 climate disclosure report , highlighting our progress in implementing the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). (citigroup.com)
The TCFD recommendations are an important framework that guides our work in identifying, managing, and disclosing the risks and opportunities associated with climate change. (citigroup.com)
Since the TCFD recommendations were first issued in 2017, the urgency of addressing climate change has continued to accelerate. (citigroup.com)
We began reporting on our climate risk assessment in 2018, establishing our leadership as the first U.S. bank to release a TCFD report. (citigroup.com)
This latest TCFD disclosure is a part of our commitment to accelerate our assessment and understanding of the climate risks faced by Citi and our clients. (citigroup.com)
The very prescriptive proposed climate-related disclosure rule's framework is modeled, at least in part, on the Task Force on Climate-Related Financial Disclosure's (TCFD) recommendations, and also draws upon the GHG Protocol. (acoel.org)
This article is the first to identify how the current reporting rules under Regulation S-K of the '34 Act should be amended in order to leverage the reporting guidance of the Task Force on Climate-Related Financial Disclosures (TCFD) and the SASB/Value Reporting Foundation disclosure standards, which are a basis of the newly released ISSB prototypes. (columbia.edu)
A more effective framework for disclosure that could promote informed investment, credit, and insurance underwriting decisions was produced by the Financial Stability Board's Task Force on Climate Related Financial Disclosures (TCFD). (insiderengage.com)
Building on that, new draft proposals in the UK as part of the FCA's Sustainability Disclosure Requirements for asset owners and asset managers will expand existing TCFD requirements and align with new corporate reporting standards from the International Sustainability Standards Board (ISSB). (insiderengage.com)
New UK Financial Conduct Authority rules on climate-related financial disclosures that involve insurers came into effect on 1 January 2022, Duncan Strachan, partner in law firm DAC Beachcroft's global insurance practice, points out: "A key requirement of the new FCA rules is for issuers of standard listed shares or global depository receipts to state whether their disclosures align with the recommendations of the TCFD and if not, explain why. (insiderengage.com)
That's why most disclosure regimes, taking their queue from the TCFD , recommend using scenario analysis to explore how change could unfold. (xdi.systems)
Premium-listed companies whose accounting periods begin on or after Jan. 1, 2021, will have to report against Task Force on Climate-Related Financial Disclosures' (TCFD) recommendations on a "comply-or-explain" basis. (complianceweek.com)
The TCFD, an organization that seeks to provide a standardized framework for climate-related financial reporting, set out 11 recommended financial disclosures in 2017 that all organizations should address to show how climate risks impact a company's governance, strategy, risk management, and metrics and targets. (complianceweek.com)
In a statement , Sarah Rapson, the FRC's executive director of supervision, said: "Given the growing importance of climate risks and the need for high quality reporting in this area, the FRC will be closely reviewing how companies report against the new TCFD requirements. (complianceweek.com)
The four pillars of the Recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) are representative of the way in which businesses are managed and governed and we therefore support their use in framing the proposed requirements. (iasplus.com)
However, we are concerned that if BEIS uses a new set of disclosure requirements, which are worded and structured differently from TCFD, this could be confusing to apply and may lead to a lack of comparability. (iasplus.com)
It could also create further complications when moving to a global climate-related financial disclosure standard that is likely to encompass the four recommendations and eleven recommended disclosures of TCFD. (iasplus.com)
In addition, we recommend that BEIS include a requirement that, in complying with the requirements, companies should have regard to the eleven recommended disclosures of TCFD. (iasplus.com)
Tools and methods have been developed to guide this disclosure, such as the Recommendations by the Task Force on Climate-related Financial Disclosure (TCFD) and the EU Sustainable Finance Action Plan. (nordea.com)
To drive this process, a number of strong international regulations and initiatives are being launched this year in the form of, for example, the NFRD (non-financial reporting directive), the EU Taxonomy and the TCFD framework (Task force for Climate related financial disclosure). (lu.se)

Climate Risk Disclosure Act of 2021, S. 1217, 117th Cong. (govtrack.us)
Over the past year, the SEC has also made clear that it is working on potentially mandatory climate disclosure rules that may be proposed by the end of 2021 and has announced that it is working on amendments to the rules on "human capital" (i.e. workforce-related) disclosure and considering rules on board diversity and cybersecurity risk. (columbia.edu)
The World Economic Forum's Global Risks Report 2021 ranks climate action failure as the second highest global risk (both in terms of likelihood and impact). (degruyter.com)
Climate risk disclosures becoming more stringent in 2021. (maptycs.com)
On June 21, 2021, US financial regulators met with US President Joe Biden to discuss the US economy and update him on their efforts to address climate-related risks. (mayerbrown.com)
As part of implementing this policy, on May 20, 2021, he signed an executive orders directing federal financial regulators to take a broad range of actions to assess and respond to climate-related financial risks, including enhancing the disclose of climate-related financial risks. (mayerbrown.com)
HR 11887 was originally introduced in the House as the ESG Disclosure Simplification Act (EDSA) on February 2, 2021 and was reported out of the House Financial Services Committee on June 8, 2021. (mayerbrown.com)
FENSA-en.pdf, accessed 16 March 2021). (who.int)
https://apps.who.int/gb/ebwha/pdf_files/EB145/B145_4-en.pdf, accessed 16 March 2021). (who.int)

The company's climate-related targets or goals, and transition plan, if any, along with information concerning any identified climate-related opportunities. (acoel.org)

A bill to amend the Securities Exchange Act of 1934 to require certain disclosures relating to climate change, and for other purposes. (govtrack.us)

The change quietly took place in late January, when SEC commissioners mandated that companies disclose risk that climate change and the consequences of related legislation places on their assets and operations. (energyandcapital.com)
The Bermuda Monetary Authority is asking for industry feedback about how insurers should annually disclose their climate risk exposure, mitigation and monitoring activities. (royalgazette.com)
To achieve this goal, the BMA is soliciting industry feedback on its considerations and proposals pertaining to how insurers should publicly disclose their climate risk exposure, mitigation and monitoring activities, on an annual basis. (royalgazette.com)
New York could soon require people selling their homes to disclose whether their properties have been flooded or are at risk for future flooding. (kaaltv.com)
A bill in New York could soon require people selling their homes to disclose whether their properties have been flooded or are at risk for future flooding - a move supporters argue is necessary as rising sea levels and intense storms with climate change lead to more flooding in the state. (kaaltv.com)
Under federal securities laws, certain companies are required to disclose specified information in annual filings with the Securities and Exchange Commission (SEC). SEC issued guidance in 2010 to assist companies in satisfying these disclosure requirements. (dianepublishing.net)
In the United States, the Securities and Exchange Commission (SEC) is currently considering a proposal that would require certain publicly traded companies to disclose information relating to the risks they face from climate change. (clarionindia.net)
In 1998, for example, the agency unanimously interpreted its rules to require firms to disclose risks from the Y2K computer bug. (clarionindia.net)
Whatever guidance or draft disclosure rule you're applying, chances are that it's going to suggest you disclose the number and percentage of your assets that may be subject to damage, failure or disruption as a result of acute or chronic physical risk. (xdi.systems)
Incoming climate disclosure standards will want companies to disclose material risk in their value chains. (xdi.systems)
Indeed, public companies should note the broad scope of information that HR 1187 would require companies to disclose, which is not limited to climate change-related information but also includes a range of ESG information from workforce composition to supply chain information. (mayerbrown.com)
The CDP (formerly the Carbon Disclosure Project) is an international non-profit organisation based in the United Kingdom, Japan, India, China, Germany, Brazil and the United States of America that helps companies, cities, states, regions and public authorities disclose their environmental impact. (wikipedia.org)
In 2016, some 90 organizations, representing over US$2.5 trillion of purchasing power, requested that their suppliers disclose information on how they are approaching climate and water risks and opportunities. (wikipedia.org)

On Monday, March 21, 2022, the U.S. Securities and Exchange Commission announced issuance of a proposed new climate-related financial risk reporting rule in a public webcast. (acoel.org)

It added that the paper seeks to align the requirements with Britain's Task Force on Climate-Related Disclosures framework, which focuses on the four pillars of governance, strategy, risk management, and metrics and targets. (royalgazette.com)
Since all stages of the credit lifecycle will likely be impacted by climate risk, integrating climate risk metrics into credit risk management could be an enormous undertaking for most banks, but it is a necessary step towards both effective risk management and a carbon-neutral future. (deloitte.com)
Integrating climate risk metrics into credit risk management could be an enormous undertaking for most banks, but it is a necessary step toward a carbon-neutral future. (deloitte.com)
A new footnote to a registrant's audited financial statements that provides climate-related metrics and impacts on a line-item basis. (clearygottlieb.com)
But the advice we gave then still holds now: start by understanding your assets, their exposure and their vulnerabilities, consider your upstream and downstream dependencies, use climate modelling that tests your tail risk, use metrics that translate climate change extremes into financial terms. (xdi.systems)
and how climate-related issues and their impact are measured, including metrics, data, and financially relevant information (metrics and targets). (complianceweek.com)
The EDSA would make ESG metrics de facto material disclosures under the Securities Act of 1933 and the Securities Exchange Act of 1934 (Exchange Act). (mayerbrown.com)

This memorandum addresses potential causes of action that could arise under U.S. law based on a company's climate-related disclosures if the rule is promulgated as proposed, as well as potential defense to those claims. (clearygottlieb.com)

Encouragingly, 70 percent of all respondents expressed interest the creation of a collaborative, open-source framework to enhance these climate finance tracking and reporting frameworks. (iif.com)
Over 45 percent of survey participants stated that their risk management framework includes an explicit process for identifying and assessing climate-related risks and opportunities. (iif.com)
However, only 17 percent of respondents have fully integrated this process into their organization's overall risk management framework. (iif.com)
Since no big journey starts without a roadmap, this report provides just that-a framework that can help banking leaders incorporate climate change considerations throughout the credit lifecycle. (deloitte.com)
The European Financial Reporting Advisory Group (EFRAG) has adopted a framework Corporate Sustainability Reporting Directive, with a dedicated Climate Change reporting standard due to begin coming into effect next year . (xdi.systems)

Disclosures are seen to be an integral element of gaining insights into the financial impact of climate change risks and how they can guide insurers' key strategic decisions. (royalgazette.com)

A key aspect of enabling this transition is understanding and disclosing the potential impacts of our business on the climate, as well as the potential impacts of climate change on our business. (citigroup.com)
Corporations are increasingly expected to consider the impacts of climate change on their business and, conversely, the impacts of their business on the global climate, which calls for adequate measures to reduce climate-related risks. (degruyter.com)

The historic rulemaking would be the first effort by U.S. financial regulators to standardize climate change reporting in annual reports and other public documents. (spglobal.com)
MAI: Now regulators like the Securities and Exchange Commission, the Federal Reserve and others are planning to force companies to incorporate those type of climate risks. (iowapublicradio.org)
Banks are facing increasing pressure from regulators to manage financial risk related to climate change, with significant credit risk manifesting from the physical and transition risks associated with climate change. (deloitte.com)
Regulators are ramping up their oversight of insurers' climate risk against a background of more severe and frequent costly weather events. (insiderengage.com)
As well as looking for more reporting and disclosure around underwriting, regulators want insurers to take an enterprise-wide risk management approach to the challenges created by climate change. (insiderengage.com)
Brandan Holmes, vice president and senior credit analyst at Moody's in London, says that a growing number of regulators are interested in insurers' strategy/business model and risk management: "In focusing on strategy, regulators seek to understand how insurers are adapting their business models to the growing effects of climate change, including both physical risk and carbon transition risk. (insiderengage.com)
Denise Eastlake, legal director at law firm Kennedy's says that disclosure is the key focus for regulators, across banks and insurers: "The UK and Europe are way ahead on this. (insiderengage.com)
The FRC released guidance Thursday to help companies prepare for the level and depth of disclosure regulators and stakeholders expect. (complianceweek.com)
Potentially filling this regulatory gap, international best practices for private sector enterprises to address climate change related issues are quickly emerging, and regulators are beginning to transpose them into binding legal frameworks. (degruyter.com)
According to the White House readout of the meeting, the regulators said "they were making steady progress" on implementing President Biden's executive order on climate-related risk. (mayerbrown.com)
With regulators telling President Biden that they are "making steady progress," new disclosure requirements for US public companies appear to be just around the corner. (mayerbrown.com)

This paper examines whether-in the absence of mandated disclosure requirements-shareholder activism can elicit greater disclosure of firms' exposure to climate change risks. (harvard.edu)
to identify and measure where exposure to climate-related issues are likely to be concentrated. (unpri.org)
This means most banks are likely underestimating their exposure to climate-related risks. (deloitte.com)
Of course, social determinants such as poverty, unstable housing, and exposure to adversity can significantly increase risk. (medscape.com)
An article presenting an assessment of hearing conservation program compliance, and excessive noise exposure and hearing loss risks for both coal and non-coal mining divisions through evaluating MSHA citations. (cdc.gov)
Increasingly, adventurous travel and "mud run" sports or races involving fresh water or soil exposure put humans at risk. (medscape.com)

The SEC's lone Republican commissioner, Hester Peirce, warned the proposed rule would turn the agency's disclosure regime "on its head. (spglobal.com)
Following the SEC's publication, ASTM International finalized a standard to assist disclosing entities with their determination as to when to make a disclosure and what to include in any disclosure they are making. (daypitney.com)
The SEC's Guidance is intended to assist public companies in complying with existing federal disclosure requirements for material risks. (daypitney.com)
The article also clarifies the primary rationales for mandatory ESG disclosure and explains the extent to which these goals justify or may go beyond the SEC's current statutory authority. (columbia.edu)
But the challenged rule in West Virginia is easily distinguishable from the SEC's proposal for climate-risk disclosure. (clarionindia.net)
The SEC's proposal for climate-risk disclosure thus hardly breaks new ground. (clarionindia.net)
We have outlined below the potential federal and state law causes of action that a plaintiff might bring against a company in connection with the climate-related disclosures that would be required by the SEC's proposed rule. (clearygottlieb.com)
The new disclosure requirements created by the SEC's proposed rules could give rise to litigation based on alleged violations of the federal securities laws. (clearygottlieb.com)
Will the SEC's proposed climate risk disclosure rules survive Supreme Court scrutiny? (bob.ge)

Follow the links below for the full text of our outreach to the SEC and our submission on mandatory climate disclosure. (bostoncommonasset.com)
SCHAPIRO: While voluntary disclosure has been useful and a good way to start, it's now time to make it mandatory so that we have the benefit of consistent and comparable information broadly across industry. (iowapublicradio.org)
The financial services industry has strongly backed a government push to make disclosure of climate-related risks mandatory for companies and financial institutions, in legislative changes that could come into force for larger businesses as soon as next year. (voteearthnow.com)
The move follows the passing of legislation in countries such as New Zealand and the United Kingdom which have made climate-related disclosures mandatory for certain businesses. (voteearthnow.com)
Speak to someone at XDI today about how we can help you prepare for mandatory disclosure. (xdi.systems)
We have commented on the Department for Business, Energy & Industrial Strategy (BEIS) consultation on requiring mandatory climate-related financial disclosures by publicly quoted companies, large private companies and Limited Liability Partnerships (LLPs). (iasplus.com)

Former SEC chairwoman Mary Schapiro says energy companies, for example, constantly weigh the risks posed by climate change, but not everybody does. (iowapublicradio.org)

Lee suggested the final rule could propose to phase in the Scope 3 reporting requirements and welcomed public comment on how to bring more clarity to the greenhouse gas disclosures and how they should be implemented. (spglobal.com)
The scope of the ASTM Standard is consistent with the categories of risk identified by the SEC in its Guidance. (daypitney.com)
The article's core proposals focus on ESG information that the SEC has already identified for proposed rulemaking and that are within the scope of its current regulatory authority - human capital, climate-related financial risk, and related corporate governance information. (columbia.edu)
In our view, this will facilitate a proportionate approach for in-scope companies and provide a level of specificity that should increase quality of disclosures. (iasplus.com)

While all communities are vulnerable to health effects associated with climate change, not everyone is equally at risk. (cdc.gov)

There is a growing demand and need for broad and consistent climate disclosure by issuers worldwide including the United States - a first for the U.S. as highlighted in the recent Financial Stability Oversight Council (FSOC) report. (bostoncommonasset.com)
The much-anticipated SEC rule has been in the works since early in the Biden administration, when the agency requested public input on how to give shareholders "more consistent, comparable and reliable" information on how climate change is affecting the businesses in which they invest. (spglobal.com)
In our view, this will provide a clear overview of the required disclosures, set consistent expectations, increase transparency and drive business action. (iasplus.com)

Focused on the reduction of disaster risk, climate resilience, and mental health and psychosocial support at city level, this project resulted from a collaboration between the United Nations Development Program (UNDP) and the Indian National Institute of Mental Health and Neurosciences (NIMHANS), which began in 2017. (medscape.com)
Cite this: Assessing Zika Risk in International Travelers - Medscape - Nov 20, 2017. (medscape.com)

The SEC is authorized to phase-in the ESG disclosures for small issuers. (mayerbrown.com)

Insurance supervisors want wider transparency and disclosure on climate risk and not just greenwash. (insiderengage.com)
We welcome this consultation paper as an important step towards the UK government's goal of achieving transparency in business reporting on climate-related issues across the UK economy. (iasplus.com)
Through increased transparency and comparability of sustainability performance and risks, we hope to be able to achieve that financial flows are redirected and accelerated towards sustainable investments. (lu.se)
What roles do corporate disclosure and transparency play in accelerating this change? (lu.se)

Settled in November 2020, the case has already raised the bar for climate risk practice in pension funds. (cambridge.org)

The PRI and seven signatories are participating in a UK and Chinese government-backed pilot on climate-related and environmental risk disclosure. (unpri.org)
A BMA spokeswoman said: "The BMA continues to advance its work in the area of climate change by ensuring that climate change and broader environmental, social and governance risks are adequately reflected in the regulatory frameworks. (royalgazette.com)
Associated Press climate and environmental coverage receives support from several private foundations. (kaaltv.com)
DURHAM, NC/NEW YORK/WASHINGTON, DC - Climate change is usually thought of as an environmental problem. (clarionindia.net)
Corporate boards are facing a number of complex risks relating to geopolitical uncertainties, cybersecurity, pandemics, and environmental degradation. (degruyter.com)
Environmental problems such as plastic pollution, hazardous wastes, loss of biodiversity, deforestation, soil depletion, and - the focus of this article - climate change are manifold and interconnected. (degruyter.com)
Environmental risks are addressed specifically under different labels ranging from Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) policies to internationally agreed standards on Responsible Business Conduct (RBC) promoted by international bodies, primarily the UN and the OECD. (degruyter.com)
Further, environmental risks may be reflected in general corporate governance policies. (degruyter.com)
When referring to climate-related events and the financial impact on companies, a Harvard Law Review article noted that "In a 2019 survey, CDP, an international nonprofit focused on environmental disclosure, found that 215 of the largest global companies faced nearly $1 trillion in risk from climate impacts. (corcentric.com)
It aims to make environmental reporting and risk management a business norm, driving disclosure, insight, and action towards a sustainable economy. (wikipedia.org)
CDP piggybacked on GRI's concept of environmental disclosure in 2002, focusing on individual companies rather than on nations. (wikipedia.org)
A company goes through four main steps, starting with disclosure of their current position, moving to awareness which looks at whether a company is conscious of its environmental impact, to management, and finally leadership. (wikipedia.org)

Unlike regulatory requirements in Europe, the new disclosure rule would apply only to publicly traded companies - leaving a large segment of the U.S. economy untouched by the regulations. (spglobal.com)
Regulatory and supervisory frameworks need to be strengthened, ensuring that supervisors review key exposures of financial institutions to climate risks and measure how they are being managed. (omfif.org)
Michelle Adcock, sector lead within KPMG's Regulatory Insight Centre, agrees that risk oversight could cover a wide spectrum: "Climate-related financial risk could result in a sudden loss in value of the assets backing portfolios, particularly annuity portfolios due to their long-term nature. (insiderengage.com)
Given this regulatory gap, international best practices and recommendations (often referred to as "soft law") to address the role of corporations in the climate change context are quickly emerging. (degruyter.com)

Since then, we have been integrating climate risk awareness into our business activities and overall strategy, corporate governance and risk management. (citigroup.com)

The BMA said the discussion paper aligns with its earlier work in the area of climate risk, particularly climate change surveys, amendments to the Insurance Code of Conduct and the issuance of the guidance note entitled Management of Climate Risk for Commercial Insurers . (royalgazette.com)
The guidance, the first economy-wide climate risk disclosure requirement in the world, was approved in a formal vote at today's SEC Commissioners meeting in Washington. (edf.org)
The lack of specific guidance until now has resulted in weak and inconsistent climate-related disclosure by public companies. (edf.org)
In February 2010, the U.S. Securities and Exchange Commission (SEC) issued interpretive guidance (the "Guidance") for risk disclosure requirements regarding climate change. (daypitney.com)
It is uncertain whether the SEC Guidance will substantially change disclosures and to what extent businesses will utilize the ASTM Standard in evaluating financial impacts attributable to climate change. (daypitney.com)
It also announced that it would consolidate under the ISSB two leading sources of climate disclosure guidance, the Climate Disclosure Standards Board (CDSB) and the Value Reporting Foundation . (columbia.edu)
Clinicians should discuss destination-specific risks for Zika infection with patients who are international travelers, but providing risk-based guidance can be challenging. (medscape.com)
A clinician counseling a patient who is considering travel to an area with risk for Zika should customize guidance to that particular traveler. (medscape.com)
CDC offers specific guidance for various situations, including those circumstances when pregnant women or their partners must travel to an area of Zika risk, including precautions to prevent sexual transmission and information on who should be tested. (medscape.com)

Under the previous US Administration, the potential for climate impact mitigation progress was lost. (bostoncommonasset.com)
Where greater flexibility is needed, for example, with respect to ESG risk mitigation or climate risk scenario analysis, new requirements proposed in the article should apply on a comply-or-explain basis. (columbia.edu)
Climate risk - both the direct risks posed by unmitigated climate change and the risks businesses face from mitigation efforts - is financial risk . (clarionindia.net)

We made climate risk assessment a key pillar of our 2025 Sustainable Progress Strategy announced this summer, and we're continuing to focus on testing the resilience of our lending portfolios to transition risks and physical risks related to climate change. (citigroup.com)
Physical risk assessment of our own facilities to test the climate resilience of our operations. (citigroup.com)
Tracking data may be used to inform decision-making and policies that can help local communities assess vulnerabilities, estimate the burden, and build overall resilience against the effects of a changing climate. (cdc.gov)

This 5-page report identifies five key themes that will shape our Industry Climate Service research agenda over the course of 2024. (oxfordeconomics.com)

We're driving climate action on the road to the UN climate talks, COP28. (edf.org)
Every year, the Conference of the Parties on Climate Change captures the world's attention for a few weeks as government, scientific and business leaders take stock, align activities, and strive for real progress on climate change - as is currently underway at COP28 in UAE. (oxfordeconomics.com)
From carbon markets to curbing methane, the case for climate optimism at COP28. (impactalpha.com)
Even before it begins, it has become fashionable to dismiss COP28, this year's global climate summit in Dubai, as a charade for slow-moving bureaucrats or, worse, a captive of fossil fuel interests. (impactalpha.com)

Efforts by the US Securities and Exchange Commission (SEC) to ensure the drafting of its landmark climate risk disclosures rulemaking is legally watertight are taking longer than expected, securities lawyers say, risking delays to the rulemaking's publication. (risk.net)

That's because figuring out how climate change impacts businesses is not always easy, says Paula DiPerna, an adviser for nonprofit CDP. (iowapublicradio.org)

On November 3, timed to coincide with the United Nation's COP26 climate summit in Glasgow, the IFRS Foundation announced prototype global reporting standards for corporate climate and sustainability disclosures, and the formation of the International Sustainability Standards Board (ISSB) to further develop them. (columbia.edu)

The survey of 70 financial firms around the world, with total assets of nearly $40 trillion, finds that the streamlining of measurement and disclosure frameworks, and increased international collaboration, are key to strengthening the climate-related risk analysis and reporting toolkit. (iif.com)
Although several disclosure frameworks have been developed, this is a fragmented space that is in urgent need of harmonisation. (omfif.org)

These ambitious commitments are essential to limit the rise in global temperatures to 1.5 degrees Celsius by 2050, 2 and avoid the most severe and catastrophic effects of climate change. (deloitte.com)
According to a recent CDP report, while many banks have identified the effects of climate change on their operations, most have not yet measured the impact on their financing portfolios. (deloitte.com)

It neither changes existing disclosure requirements nor accepts any particular fact related to climate change. (daypitney.com)
The Standard by its own terms is "meant to supplement, rather than replace, the disclosure requirements as prescribed or regulated through. (daypitney.com)
Public companies may find the ASTM Standard a helpful guide in ensuring that they comply with SEC material risk disclosure requirements. (daypitney.com)
The federal government on Monday started a consultation process with the industry as it works to introduce standardised, internationally aligned reporting requirements for businesses to report on the physical and transition risks from the impact of climate change. (voteearthnow.com)
The US, Switzerland and Singapore are also developing similar requirements, as international markets increasingly recognise the risk to the global financial system brought on by climate change. (voteearthnow.com)
Although the disclosure requirements apply to public companies, private companies should not think they have no skin in the game. (corcentric.com)
Climate risk disclosure requirements are increasing for companies that face physical climate risks like fire and floods. (maptycs.com)
Disclosure will also increasingly be a matter of complying with regulations and reporting requirements. (nordea.com)
HR 1187 would mandate that the SEC create an ESG disclosure regime for public companies and provides numerous statutory requirements for those disclosures, including climate-related disclosures. (mayerbrown.com)
2 Concurrently, the State of California is also putting pressure on the federal government to adopt climate disclosure requirements by advancing its own legislation, the Climate Corporate Accountability Act (CCAA) 3 , that would impose disclosure obligations on any California company and any company doing business in California. (mayerbrown.com)
Whether California will ultimately adopt the CCAA once the SEC adopts its anticipated climate disclosure requirements is unclear. (mayerbrown.com)
This client alert summarizes HR 1187, the status of the Biden Administration's efforts to establish climate disclosure requirements, and the CCAA, which at present time are the most significant climate-disclosure measures under consideration in the US. (mayerbrown.com)
Even if neither HR 1187 nor the CCAA is ultimately enacted, as is likely at this point, their provisions are likely to influence how the SEC designs its disclosure requirements, which are expected to be proposed later this year. (mayerbrown.com)
Indeed, SEC Chair Gary Gensler has said that the new disclosure requirements will not be limited to climate but also cover other ESG issues. (mayerbrown.com)

They are obviously looking to invest in companies with minimal climate risk. (energyandcapital.com)
The SEC also said companies should weigh disclosure on how pending rules or laws might affect the bottom line. (energyandcapital.com)
And by default, companies with less or no climate risk are becoming inherently more valuable. (energyandcapital.com)
The BMA said the pillars are designed to support companies in considering, integrating and reporting on climate risks and opportunities. (royalgazette.com)
Maintaining an effective disclosure regime for public companies is amongst the most important and foundational roles of the commission. (spglobal.com)
Companies like to talk about going green and fighting climate change, but they're not necessarily keen to admit if they have a factory in an area prone to flooding or if their supplier was just hit by a hurricane. (iowapublicradio.org)
MAI: A recent Bloomberg law study shows that nearly half of the companies listed on the S&P 500 are disclosing climate risks. (iowapublicradio.org)
Disruptions to global supply chains, such as those caused by natural disasters, can hurt economic growth and productivity around the world and may pose risks to private-sector companies. (dianepublishing.net)
Similar to the climate context, the SEC found that many companies had begun disclosing Y2K risks, but in varied forms that were difficult to compare and evaluate. (clarionindia.net)
The U.S. Securities and Exchange Commission (SEC) has proposed a new rule for climate disclosure by publicly listed companies. (wsp.com)
Companies need to identify and quantify the impact climate change will have on their businesses in the near and distant future. (marsh.com)
For companies navigating their climate risk environment, the initialisations can seem like a bewildering foreign language. (xdi.systems)
You should also find about the physical risk to assets owned or leased by companies you invest in and then benchmark this against other companies. (xdi.systems)
A report released in September by financial think tank Carbon Tracker found limited consideration and reference of climate change in financial statements in more than 70 percent of the 107 global companies it reviewed. (complianceweek.com)
On climate-risk disclosure, Chair Gensler highlighted the Commission's proposals on climate-related disclosure for public companies and investment companies/advisors. (mfdf.org)
The progress includes interagency information sharing and communication through the CFRC, a proposal from the Fed, OCC, and FDIC on proposed principles for climate-related financial risk management for large financial institutions, and the Fed's launch of a pilot climate scenario analysis exercise for six large bank holding companies, among other projects. (mfdf.org)
Back in March of this year, the Securities and Exchange Commission (SEC) , in a nearly 500-page document, proposed new rules that would require public companies to provide information regarding climate-related risks. (corcentric.com)
The newest member of Nordea's Sustainable Finance Advisory team explains why companies should start focusing on climate risk now. (nordea.com)
Companies need to show which climate risks may affect them, what this means for their operations and how they intend to deal with this risk," says Alex. (nordea.com)
As the financial sector will be able to include climate risk in their analysis and due diligence, companies can avoid higher costs of financing, and those that qualify can access green finance at a potential discount. (nordea.com)
Nevertheless, California companies and companies doing business in California should be aware that the possibility exists for the adoption of overlapping federal and state disclosure rules. (mayerbrown.com)
CDP requests information on climate risks and low carbon opportunities from the world's largest companies on behalf of over 800 institutional investor signatories with a combined US$100 trillion in assets. (wikipedia.org)
CDP recognizes companies with high-quality disclosure in its annual scoring process, with top companies making it onto CDP's so-called A-list. (wikipedia.org)

However, they will still have to determine what is material-a difficult task in light of the many uncertainties surrounding climate change. (daypitney.com)
More widely, the FRC also expects material climate change policies, risks, and uncertainties to be included in narrative reporting and "appropriately considered and reflected" in financial statements. (complianceweek.com)
Such initiatives are driving corporate climate risk disclosure, which will help address many of the current uncertainties, according to Alex. (nordea.com)

In addition to embedding this work across Citi, we're also ramping up our industry collaboration to adopt new methodologies to analyze the climate risk associated with our client portfolios - such as the Paris Agreement Capital Transition Assessment (PACTA) and the Partnership for Carbon Accounting Financials (PCAF) - and we will share updates on this work next year in our annual ESG Report. (citigroup.com)
The Northeast is experiencing the greatest increase in extreme rainfall of any region in the U.S., according to a National Climate Assessment report , and a rate of sea-level rise that's three times greater than the global average. (kaaltv.com)
Over the past decade, one-fifth of the examinations conducted by the IMF under the Financial Sector Assessment Program has included an examination of climate-related physical risks, with an increasing focus on transition risks. (omfif.org)
Secondly, what is the relative importance of pension funds for the risk management of climate-related financial risk via due diligence compared with risk assessment via disclosure? (cambridge.org)

The finalization of the two sustainability disclosure standards-IFRS S1 and IFRS S2-is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide. (moodysanalytics.com)

On the conduct side, there is increasing focus on the potential impacts of climate risk on insurance customers, for example the inability of customers to access insurance, or to access it at a reasonable price and insurers exiting certain markets. (insiderengage.com)

Thus, there is momentum towards taking the requisite steps to address climate-related risks. (omfif.org)

As the world's most global bank, Citi must play an important role in addressing the climate crisis and financing the transition to a low-carbon economy. (citigroup.com)

At the same meeting, the FSOC's Climate-related Financial Risk Committee (CFRC) issued a staff progress report on a range of actions underway to support disclosure, address data gaps, and assess climate-related financial risks among FSOC-member agencies. (mfdf.org)

MAI: Executive John Frey says accounting for the impacts of climate is something the company has been doing for years, like when deciding where to locate its headquarters. (iowapublicradio.org)

Robust data and disclosures on exposures and vulnerabilities to climate change are critical. (omfif.org)
The risk management focus tends to be on ensuring that insurers have a detailed understanding of their exposures to climate risk, the range of financial impacts, and credible plans to manage and mitigate this. (insiderengage.com)
Furthermore, as climate change disrupts regional rainfall and temperatures, Leptospirosis should be considered in the setting of potential exposures. (medscape.com)

The ASTM Standard is intended to guide organizations in determining when disclosure of financial impacts attributable to climate change is appropriate and what should be disclosed with an organization's financial statements. (daypitney.com)
The ASTM Standard recommends aggregating financial impacts attributed to climate change risks in determining materiality. (daypitney.com)

To access the premium content on Corporate Disclosures, you must first sign in to your account. (corporatedisclosures.org)

At a recent meeting of the Financial Stability Oversight Council (FSOC), Securities and Exchange Commission (SEC) Chair Gary Gensler delivered remarks on the progress the Commission has made towards increasing climate-risk disclosure and the cessation of LIBOR. (mfdf.org)

The US Securities and Exchange Commission (SEC) has again delayed the adoption of its climate disclosures rule, to push back a final decision until April next year. (environmental-finance.com)

This work also highlights the relationship between climate change and systemic risk, and how acting responsibly in line with public interests can mitigate risk. (citigroup.com)
The Commodity Futures Trading Commission , the Financial Stability Board , and the House of Representatives have already concluded that climate risk poses a systemic threat to the financial system. (columbia.edu)
Or the effects of compound, cascading and systemic risk ? (xdi.systems)

Stress-testing and scenario analysis will be important tools of climate-change risk management. (omfif.org)

As the data provided in the recently released Mental Health and Climate Change Policy Brief indicate, there are large gaps in many countries between mental health needs and the services and systems available to address them. (medscape.com)

The agency said insurers may want to consider disclosing whether severe weather or changes in sea levels might increase the risk of claims in coastal regions. (energyandcapital.com)
The BMA said it will consider the industry's feedback and subsequently issue a consultation paper on the proposed climate risk disclosures for all commercial insurers using the proposed phased-in approach. (royalgazette.com)
One way authorities are doing this is through the introduction of climate related stress tests which require insurers to model impacts from a defined set of assumptions. (insiderengage.com)

Psychiatry and Psychology5

Phenomena and Processes8

Anthropology, Education, Sociology and Social Phenomena3

Humanities1

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20233

Emissions21

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TCFD20

20219

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Disclose13

20221

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SEC's9

Mandatory6

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20172

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20201

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20241

COP284

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Chair Gary Gensler1

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