Maria Mora, Technical Manager at CDP

Size: px
Start display at page:

Download "Maria Mora, Technical Manager at CDP"

Transcription

1 Maria Mora, Technical Manager at CDP

2 With the 2015 Paris agreement, climate change is at the forefront of issues where human activities have exceeded the ability of Earth s natural systems to compensate. Businesses are both significant contributors to, and potential solution providers for, environmental problems. To put solution, they need to collect relevant, timely, reliable, material and complete information upon which to base their business strategy. Providers of capital, insurers and regulators also need this information from businesses in a transparent, comparable, clear and verifiable structure so that they can make the best informed investment decisions and ensure compliance. 2

3 Policies, global agreements and reporting initiatives (like CDP) appear as a potential solution to reduce the environmental degradation, including climate change. Most G20 jurisdictions place a legal obligation on companies to disclose material risks in financial reports, which includes risks from climate change. However, regulators, investors, creditors and underwriters have difficulties to access to that information to inform their decisions. As a result, the relationships between financial and environmental impacts are not understood, generating an equation where financial imbalances and environmental degradation are part of the result, driving to an unstable global system. 3

4 Lack of financial significance and exposure to environmental aspects. Lack of alignment between financial and environmental disclosure regimes. Data quality gaps: incompleteness, reliability, comparability, verifiability and data structure. Lack of information systems that facilitates the disclosure and use. 4

5 In 2015, the Financial Stability Board (FSB) stablished the industry-led Task Force on Climate-related disclosure (TCFD) to make recommendations for improving principles and practices for voluntary disclosure and selected a diverse group of experienced members (users, preparers, and market participants from a variety of industries and regions). 5

6 The main goal of the TCFD is to develop along 2016, a coherent framework to : support the disclosure of climate-related financial risks and opportunities promote the alignment across existing disclosure regimes improve the production of consistent, comparable, reliable, clear and efficient information increase the consideration of environmental matters on decisions in the short, medium and long-term 6

7 Preparers: listed companies and issuers of public securities, Financial and nonfinancial companies. Users: investors, lenders, and underwriters. Reporting channel: mainstream financial filings and investor annual reports. G20 landscape 7

8 Phase 1: Develop scopes and objectives for the proposed work and create a set of fundamental disclosure principles. (March, 2016). Phase 2: Delivering specific recommendations and guidelines for voluntary disclosure by identifying leading practices to improve consistency, accessibility, clarity and usefulness of climaterelated financial reporting. (December, 2016). 8

9 Climate-related financial risks and opportunities 9

10 Promotes alignment across existing disclosure regimes, Mandatory regulations affecting banks Disclosure frameworks promoted by governments: mandatory and voluntary way Disclosure frameworks, exchange listing requirements and Indices. Voluntary and Mandatory Disclosure frameworks, NGOs. Voluntary 10

11 Mandatory regulations Source: Phase I Report of the Task Force on Climate-Related Financial Disclosure 11

12 Disclosure Framework from Government Source: Phase I Report of the Task Force on Climate-Related Financial Disclosure 12

13 Disclosure frameworks, NGO Source: Phase I Report of the Task Force on Climate-Related Financial Disclosure 13

14 The Financial Stability Board (FSB), at the direction of the G20 countries, has set up the Task Force on Climate-related Financial Disclosure (TCFD) to draw up recommendations on voluntary disclosure. The TCFD has a clear mandate from governments, companies and investors to improve the disclosure landscape so they can better manage climate-related financial risks. However, several challenges have to be addressed to increase the use of climate-related information for purposes of financial and corporate decision making. Collect relevant, timely, reliable, material and complete information is important 14

15 15

Task Force on Climate-related Financial Disclosures

Task Force on Climate-related Financial Disclosures Task Force on Climate-related Financial Disclosures Overview of Recommendations and Guidance January 2018 CONTENTS TOPIC Background Recommended Disclosures and Guidance Key Elements Implementing the Recommendations

More information

Reporting climate change risk

Reporting climate change risk Reporting climate change risk A step-by-step guide to implementing the Financial Stability Board Task Force Recommendations for disclosing climate change risk Contents The Financial Stability Board Task

More information

Climate changes your business. Wim Bartels 28 February, 2018

Climate changes your business. Wim Bartels 28 February, 2018 Climate changes your business. Wim Bartels 28 February, 2018 2018 KPMG N.V., registered with the trade register in the Netherlands under number 34153857, is a member firm of the KPMG network of independent

More information

Review of the Federal Financial Sector Framework

Review of the Federal Financial Sector Framework November 15, 2016 Financial Institutions Division Financial Sector Policy Branch Department of Finance Canada James Michael Flaherty Building 90 Elgin Street Ottawa, ON K1A 0G5 Re: Review of the Federal

More information

+ 50% by In the short term: 50% increase in low carbon investments. + investment

+ 50% by In the short term: 50% increase in low carbon investments. + investment Responsible investment Our investment strategy to address climate change Table of contents Investing in light of a changing climate Summary Four principles A rigorous process A risk and opportunity analysis

More information

Will the Financial Stability Board be a game changer for climate risk disclosures?

Will the Financial Stability Board be a game changer for climate risk disclosures? Will the Financial Stability Board be a game changer for climate risk disclosures? Will the Financial Stability Board be a game changer for climate risk disclosures? Step by step guide to implementing

More information

Accounting for climate change

Accounting for climate change Accounting for climate change A step-by-step guide to implementing the Financial Stability Board Task Force recommendations for disclosing climate change risk Contents The Financial Stability Board Task

More information

Report on Climate-related Disclosures

Report on Climate-related Disclosures Report on Climate-related Disclosures Technical Expert Group on Sustainable Finance JANUARY 2019 Banking and Finance An interactive version of this publication, containing links to online content, is available

More information

The One Planet Sovereign Wealth Fund Framework

The One Planet Sovereign Wealth Fund Framework The One Planet Sovereign Wealth Fund Framework 06/07/2018 INTRODUCTION Following the adoption of the 2015 Paris Agreement in which parties committed collectively to mitigate the effects of climate change,

More information

Technical Workshop Corporate Climate Change Reporting: Towards consistent and targeted schemes OECD (Paris) 15th February 2012

Technical Workshop Corporate Climate Change Reporting: Towards consistent and targeted schemes OECD (Paris) 15th February 2012 Technical Workshop Corporate Climate Change Reporting: Towards consistent and targeted schemes OECD (Paris) 15th February 2012 Lois Guthrie, Executive Director, The Climate Disclosure Standards Board Climate

More information

GUIDANCE ON PRI PILOT CLIMATE REPORTING

GUIDANCE ON PRI PILOT CLIMATE REPORTING GUIDANCE ON PRI PILOT CLIMATE REPORTING BASED ON THE RECOMMENDATIONS OF THE FSB TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES An investor initiative in partnership with UNEP Finance Initiative and

More information

FSB Task Force on Climaterelated Financial Disclosures

FSB Task Force on Climaterelated Financial Disclosures FSB Task Force on Climaterelated Financial Disclosures Focus on Physical Risk Curtis Ravenel Global Head of Sustainable Business & Finance, Bloomberg LP TCFD Secretariat May 2018 BACKGROUND G20 Finance

More information

NORDIC WORKING PAPERS

NORDIC WORKING PAPERS NORDIC WORKING PAPERS Greening the financial system Nordic experiences and the way forward Mikko Halonen and Henrik Sjöblom http://dx.doi.org/10.6027/na2018-914 NA2018:914 ISSN 2311-0562 This working paper

More information

PRI REPORTING FRAMEWORK 2019 Strategy and Governance. (Climate-related indicators only) November (0)

PRI REPORTING FRAMEWORK 2019 Strategy and Governance. (Climate-related indicators only) November (0) PRI REPORTING FRAMEWORK 2019 Strategy and Governance (Climate-related indicators only) November 2018 reporting@unpri.org +44 (0) 20 3714 3187 Understanding this document In addition to the detailed indicator

More information

The FSB Task Force on Climate-related Financial Disclosures What do its recommendations mean for the energy sector?

The FSB Task Force on Climate-related Financial Disclosures What do its recommendations mean for the energy sector? www.pwc.co.uk The FSB Task Force on Climate-related Financial Disclosures What do its recommendations mean for the energy sector? June 2017 An introduction to the Task Force TCFD established The G20 Finance

More information

Sustainable Finance Research Executive Summary. Commissioned by HSBC 2016

Sustainable Finance Research Executive Summary. Commissioned by HSBC 2016 Sustainable Finance Research Executive Summary Commissioned by HSBC 16 East & Partners is a leading specialist business banking market research and analysis firm. The firm s core expertise is in the provision

More information

FSB Task Force on Climate-related Financial Disclosures. Eloy Lindeijer Amstelveen, 13 October 2016

FSB Task Force on Climate-related Financial Disclosures. Eloy Lindeijer Amstelveen, 13 October 2016 FSB Task Force on Climate-related Financial Disclosures Eloy Lindeijer Amstelveen, 13 October 2016 Agenda Background Introduction to the Task Force Relevance for the Netherlands Proposed Disclosures Next

More information

HLEG-Questionnaire Response Deutsches Aktieninstitut

HLEG-Questionnaire Response Deutsches Aktieninstitut Question 1. From your constituency s point of view, what is the most important issue that needs to be addressed to move towards sustainable finance? (sustainable finance being understood as improving the

More information

Can the crowd help finance the transition to a low- GHG climate resilient economy?

Can the crowd help finance the transition to a low- GHG climate resilient economy? Can the crowd help finance the transition to a low- GHG climate resilient economy? Green finance (for climate & the SDGs) offers enormous untapped investment opportunities. All financial actors have to

More information

Integrating Climate Change-related Factors in Institutional Investment

Integrating Climate Change-related Factors in Institutional Investment ROUND TABLE ON SUSTAINABLE DEVELOPMENT Integrating Climate Change-related Factors in Institutional Investment Summary of the 36 th Round Table on Sustainable Development 1 8-9 February 2018, Château de

More information

Climate Change, Water, Forests, and Commodities. Fiona Reynolds, Managing Director CDP event, Tokyo 24 th October 2017

Climate Change, Water, Forests, and Commodities. Fiona Reynolds, Managing Director CDP event, Tokyo 24 th October 2017 Climate Change, Water, Forests, and Commodities Fiona Reynolds, Managing Director CDP event, Tokyo 24 th October 2017 THE PRI Investor-led, supported by the United Nations The PRI works with its international

More information

Climate Finance. São Paulo 28 th June 2016 Senior Adviser Harald Francke Lund

Climate Finance. São Paulo 28 th June 2016 Senior Adviser Harald Francke Lund Climate Finance São Paulo 28 th June 2016 Senior Adviser Harald Francke Lund 6000 billion USD needed a year Climate finance flows in last five years have been significant despite economic crisis 2011

More information

Assess record for 'Disclosure of Non-Financial Information by Companies'

Assess record for 'Disclosure of Non-Financial Information by Companies' Page 1 of 5 Assess record for 'Disclosure of Non-Financial Information by Companies' Meta Informations Creation date 20-01-2011 Last update date User name null Case Number 316949253331602011 Invitation

More information

Summary and Recommendations by the Standing Committee on Finance on the 2016 Biennial Assessment and Overview of Climate Finance Flows

Summary and Recommendations by the Standing Committee on Finance on the 2016 Biennial Assessment and Overview of Climate Finance Flows Summary and Recommendations by the Standing Committee on Finance on the 2016 Biennial Assessment and Overview of Climate Finance Flows Seyni Nafo and Outi Honkatukia 7 November, 2016 Functions and the

More information

Green Bonds. Mumbai, January 2017 Senior Adviser Harald Francke Lund

Green Bonds. Mumbai, January 2017 Senior Adviser Harald Francke Lund Green Bonds Mumbai, January 2017 Senior Adviser Harald Francke Lund Scientific basis Mitigation & costs Independent non-profit climate change research center International agreements & policy instruments

More information

Thinking allowed Climate-related disclosure. Integrating climate-related information in the annual report

Thinking allowed Climate-related disclosure. Integrating climate-related information in the annual report Thinking allowed Climate-related disclosure Integrating climate-related information in the annual report Corporate reporting continues to evolve to meet the expectations of investors as the environment

More information

Climate Bonds Initiative

Climate Bonds Initiative Climate Bonds Initiative Serena Vento- Head of Partnerships & Commercial Relationships Matteo Bigoni Certification Manager Climate Bonds Initiative Milano 2 Luglio 2018 The Climate Bonds Initiative - Milano,

More information

CONTACT(S) Marie Claire Tabone +44 (0) Matt Chapman +44 (0)

CONTACT(S) Marie Claire Tabone +44 (0) Matt Chapman +44 (0) IASB Agenda ref 15A STAFF PAPER IASB meeting November 2018 Project Paper topic Management Commentary The objective of management commentary CONTACT(S) Marie Claire Tabone mctabone@ifrs.org +44 (0) 20 7246

More information

Assess record for 'Disclosure of Non-Financial Information by Companies'

Assess record for 'Disclosure of Non-Financial Information by Companies' Page 1 of 6 Assess record for 'Disclosure of Non-Financial Information by Companies' Meta Informations Creation date 28-01-2011 Last update date User name null Case Number 396996348061702811 Invitation

More information

Recommendations of the Task Force on Climate-related Financial Disclosures COUNTRY REVIEWS

Recommendations of the Task Force on Climate-related Financial Disclosures COUNTRY REVIEWS Recommendations of the Task Force on Climate-related Financial Disclosures COUNTRY REVIEWS Inside Brazil Canada European Union Japan United Kingdom United States of America Appendices Why does climate

More information

PRA Consultation Paper 23/18: Enhancing banks and insurers approaches to managing the financial risks from climate change

PRA Consultation Paper 23/18: Enhancing banks and insurers approaches to managing the financial risks from climate change PRA Consultation Paper 23/18: Enhancing banks and insurers approaches to managing the financial risks from climate change CDP and CDSB joint consultation response 15 January 2019 Introduction CDP and the

More information

PGGM Responsible Investment in Real Estate

PGGM Responsible Investment in Real Estate pggm.nl pggm.nl PGGM Responsible Investment in Real Estate January 2018 Responsible Investment in Real Estate 1. Introduction On behalf of its clients, PGGM Investments manages several real estate investment

More information

Task Force on Climate-related Financial Disclosures

Task Force on Climate-related Financial Disclosures Task Force on Climate-related Financial Disclosures Public Consultation Summary April 18, 2017 BACKGROUND The Financial Stability Board (FSB) established the Task Force on Climaterelated Financial Disclosures

More information

Statement on Climate Change

Statement on Climate Change Statement on Climate Change BMO Financial Group (BMO) considers climate change one of the defining issues of our generation. Everyone, including BMO, bears responsibility for the effectiveness of the response.

More information

Enhanced disclosures: Leading practices and current trends

Enhanced disclosures: Leading practices and current trends Enhanced disclosures: Leading practices and current trends The Dbriefs Governance, Risk & Compliance series Deb DeHaas, Vice chairman, National Managing Partner, Deloitte Consuelo Hitchcock, Management

More information

Ready or not: Are companies prepared for the TCFD recommendations?

Ready or not: Are companies prepared for the TCFD recommendations? DISCLOSURE INSIGHT ACTION Ready or not: Are companies prepared for the TCFD recommendations? A geographical analysis of CDP 2017 responses Joint CDSB and CDP Report March 2018 Foreword Simon Messenger,

More information

Solar Gr G e r en n Bond n s s Webinar July 2016

Solar Gr G e r en n Bond n s s Webinar July 2016 Solar Green Bonds Solar Green Bonds Webinar July 2016 Topics covered in this webinar 1. CBI & the green bond market 2. Green bond labelling & the role of standards 3. Climate Bonds Standard & Certification

More information

PUBLIC SECTOR PENSION INVESTMENT BOARD (PSP INVESTMENTS) RESPONSIBLE INVESTMENT POLICY

PUBLIC SECTOR PENSION INVESTMENT BOARD (PSP INVESTMENTS) RESPONSIBLE INVESTMENT POLICY PUBLIC SECTOR PENSION INVESTMENT BOARD (PSP INVESTMENTS) RESPONSIBLE INVESTMENT POLICY November 2017 The Public Sector Pension Investment Board ( PSP Investments ) 1 is one of Canada s largest pension

More information

AXA Group Montreal Carbon Pledge 2016 Report

AXA Group Montreal Carbon Pledge 2016 Report AXA Group Montreal Carbon Pledge 2016 Report Beyond Carbon footprinting Montreal Carbon Pledge: AXA Group s carbon footprint disclosed AXA has signed the Montreal Carbon Pledge in 2015, committing to assess

More information

Are your climate disclosures revealing the true risks of your business?

Are your climate disclosures revealing the true risks of your business? Are your climate disclosures revealing the true risks of your business? Insights for the CFO on the release of Final Report: Recommendations of the Task Force on Climate-related Financial Disclosures.

More information

1. Do the trustees accept the TCFD conclusion that pension funds are potentially exposed to financial risks through climate change?

1. Do the trustees accept the TCFD conclusion that pension funds are potentially exposed to financial risks through climate change? Strathclyde Pension Fund Response to Environmental Audit Committee Green Finance Enquiry Request for Information 1. Do the trustees accept the TCFD conclusion that pension funds are potentially exposed

More information

Preparing for Climate-Risk Disclosure: Practical Suggestions for Public Companies

Preparing for Climate-Risk Disclosure: Practical Suggestions for Public Companies WHITE PAPER CLIMATE-RISK DISCLOSURE Preparing for Climate-Risk Disclosure: Practical Suggestions for Public Companies Diane Gargiulo and Richard Mahony DFINsolutions.com Government task forces suffer from

More information

How have investors met their ESG and climate reporting requirements under Article 173-VI?

How have investors met their ESG and climate reporting requirements under Article 173-VI? How have investors met their ESG and climate reporting requirements under Article 173-VI? Perspectives on the implementation of Article 173-VI of the French Energy Transition for Green Growth law December

More information

REPORTING CLIMATE RESILIENCE: THE CHALLENGES AHEAD

REPORTING CLIMATE RESILIENCE: THE CHALLENGES AHEAD REPORTING CLIMATE RESILIENCE: THE CHALLENGES AHEAD Key Takeaways The growing focus on climate resilience is driven by the view that companies that assess and understand climate-related risks and opportunities

More information

DNB Boligkreditt. May 2018

DNB Boligkreditt. May 2018 DNB Boligkreditt May 2018 1 The DNB Group DNB ASA DNB Bank ASA Aa2 / A+ DNB Life and Asset Management (Senior/ short term issuance) DNB Boligkreditt AS (Green) Covered Bonds: AAA / Aaa 100% owned by DNB

More information

Ontario s Climate Change Action Plan: Implications for companies and government

Ontario s Climate Change Action Plan: Implications for companies and government Ontario s Climate Change Action Plan: Implications for companies and government Ontario s economy is entering a new low-carbon era through a cap and trade program and climate change strategy and action

More information

Can non-traditional (sustainability) data be material under U.S. securities laws?

Can non-traditional (sustainability) data be material under U.S. securities laws? Can non-traditional (sustainability) data be material under U.S. securities laws? Sustainability Accounting Standards Board: Standards for Effective Disclosure of Material Sustainability Factors to the

More information

TCFD Final Report A summary for business leaders

TCFD Final Report A summary for business leaders www.pwc.co.uk TCFD Final Report A summary for business leaders June 2017 Context The G20 Finance Ministers and Central Bank Governors are concerned that the financial implications of climate change are

More information

ESG Shareholder Activism

ESG Shareholder Activism DECEMBER 2017 ESG Shareholder Activism 2 O R I G I N E N E R G Y 2 0 1 7 A GM Background to the Meeting Origin announced in August 2017 that 129 shareholders representing approximately 0.0169% of issued

More information

Bridging the Disclosure Gap: Investor Perspectives on Environmental, Social, & Governance (ESG) Disclosures

Bridging the Disclosure Gap: Investor Perspectives on Environmental, Social, & Governance (ESG) Disclosures University of Pennsylvania ScholarlyCommons Master of Environmental Studies Capstone Projects Department of Earth and Environmental Science 2018 Bridging the Disclosure Gap: Investor Perspectives on Environmental,

More information

THE FINANCIAL SYSTEM WE NEED ALIGNING THE FINANCE SYSTEM FOR SUSTAINABLE DEVELOPMENT MARCH 2016

THE FINANCIAL SYSTEM WE NEED ALIGNING THE FINANCE SYSTEM FOR SUSTAINABLE DEVELOPMENT MARCH 2016 THE FINANCIAL SYSTEM WE NEED ALIGNING THE FINANCE SYSTEM FOR SUSTAINABLE DEVELOPMENT MARCH 2016 EELLIOTT HARRIS ELLIOTT HARRIS UN ASSISTANT SECRETARY-GENERAL DIRECTOR, NY OFFICE, UNEP UNEP CONVENES FINANCIAL

More information

Climate Action in 2017

Climate Action in 2017 CEO Guide to Climate Action Series Climate Action in 2017 Insights into the readiness of Australian business to disclose climate-related financial risks and opportunities August 2017 Foreword Andrew Petersen

More information

Responsible Investment

Responsible Investment 資料 1-1 Responsible Investment 19 November 2018 1 19 November 2018 Executive Summary MULTIPLE FORCES ON CLIMATE CHANGE AMUNDI PLAYS A PIVOTAL ROLE IN THIS FIELD Unprecedented challenge Multiple forces to

More information

UBS and Society. Hubertus Kuelps. Head of UBS and Society Group Head Communications & Branding

UBS and Society. Hubertus Kuelps. Head of UBS and Society Group Head Communications & Branding UBS and Society Sustainability@UBS Hubertus Kuelps Head of UBS and Society Group Head Communications & Branding 3 November, 2017 Our three keys to success 1 Who we are UBS and Society Making sustainable

More information

ESG INTEGRATION: FOCUS ON ENVIRONMENTAL RISK AND OPPORTUNITY

ESG INTEGRATION: FOCUS ON ENVIRONMENTAL RISK AND OPPORTUNITY ESG INTEGRATION: FOCUS ON ENVIRONMENTAL RISK AND OPPORTUNITY LENORA SUKI SUSTAINABLE BUSINESS AND FINANCE ESG INTEGRATION: FOCUS ON ENVIRONMENTAL RISK AND OPPORTUNITY AGENDA WHERE INVESTORS SHOULD FOCUS

More information

Long-term Finance: Enabling environments and policy frameworks related to climate finance

Long-term Finance: Enabling environments and policy frameworks related to climate finance Long-term Finance: Enabling environments and policy frameworks related to climate finance 10 th June, 2013, Bonn, Germany Amal-Lee Amin E3G Third Generation Environmentalism Recap of 2012 LTF Work Programme

More information

CPAs. The preferred choice for assurance on sustainability information

CPAs. The preferred choice for assurance on sustainability information CPAs. The preferred choice for assurance on sustainability information i A fiercely competitive economic climate. Escalating policy developments and environmental regulations. The impact of climate disruption

More information

Voting Policy General Meetings of Listed Companies

Voting Policy General Meetings of Listed Companies Voting Policy General Meetings of Listed Companies 2 This document presents the conditions under which we exercise the voting rights conferred by the securities held and/or acquired by as part of collective

More information

Public consultation on institutional investors and asset managers' duties regarding sustainability

Public consultation on institutional investors and asset managers' duties regarding sustainability Contribution ID: 9de-c-db-86a-eee9b6dfd Date: 8/0/08 0::9 Public consultation on institutional investors and asset managers' duties regarding sustainability Fields marked with * are mandatory. Introduction

More information

GLOBAL PROGRESS REPORT

GLOBAL PROGRESS REPORT SUSTAINABLE BANKING NETWORK (SBN) GLOBAL PROGRESS REPORT FEBRUARY 2018 EXECUTIVE SUMMARY International Finance Corporation [2018], as the Secretariat of the Sustainable Banking Network (SBN). All rights

More information

Leading European banks show how Green Tagging can drive Energy Efficiency Financing

Leading European banks show how Green Tagging can drive Energy Efficiency Financing Leading European banks show how Green Tagging can drive Energy Efficiency Financing ABN AMRO, BBVA, Berlin Hyp, HSBC, ING, Lloyds, SEB, Suedtiroler Volksbank, Triodos and UniCredit all part of new European

More information

Australian companies are failing to properly disclose climate risk

Australian companies are failing to properly disclose climate risk Australian companies are failing to properly disclose climate risk This new Market Forces study has revealed a chronic failure of Australian companies to disclose the risks to their business as a result

More information

CONSULTATION DOCUMENT FITNESS CHECK ON THE EU FRAMEWORK FOR PUBLIC REPORTING BY COMPANIES

CONSULTATION DOCUMENT FITNESS CHECK ON THE EU FRAMEWORK FOR PUBLIC REPORTING BY COMPANIES EUROPEAN COMMISSION Directorate-General for Financial Stability, Financial Services and Capital Markets Union INVESTMENT AND COMPANY REPORTING Accounting and financial reporting CONSULTATION DOCUMENT FITNESS

More information

EFAMA s reply to EU Ecolabel for Financial Products: 1st Stakeholder Questionnaire on the product scope and criteria definition

EFAMA s reply to EU Ecolabel for Financial Products: 1st Stakeholder Questionnaire on the product scope and criteria definition EFAMA s reply to EU Ecolabel for Financial Products: 1st Stakeholder Questionnaire on the product scope and criteria definition 2. Familiarity and experience with existing labelling schemes and initiatives

More information

Briefing Paper on the 2018 Global Investor Statement to Governments on Climate Change

Briefing Paper on the 2018 Global Investor Statement to Governments on Climate Change Institutional Investors Group on Climate Change Briefing Paper on the 2018 Global Investor Statement to Governments on Climate Change This Briefing Paper accompanies the 2018 Global Investor Statement

More information

COMMISSION DELEGATED REGULATION (EU) /... of XXX

COMMISSION DELEGATED REGULATION (EU) /... of XXX EUROPEAN COMMISSION Brussels, XXX [ ](2018) XXX draft COMMISSION DELEGATED REGULATION (EU) /... of XXX amending Regulation (EU) 2017/2359 as regards the integration of Environmental, Social and Governance

More information

Responsible Investment Policy

Responsible Investment Policy Responsible Investment Policy This Responsible Investment Policy details the approach that BCPP will follow in fulfilling its commitment to the partner funds in the delegation of RI and stewardship responsibilities.

More information

Finally arriving? Pension Reforms in Europe

Finally arriving? Pension Reforms in Europe Finally arriving? Pension Reforms in Europe Chris de Neubourg Tokyo 2010 Finally arriving? Pension Reforms in Europe Chris de Neubourg Innocenti Research Centre, Unicef, Florence October 2010 Drivers

More information

Hong Kong Capital Markets Update

Hong Kong Capital Markets Update Hong Kong Capital Markets Update ISSUE 2017-05 November 2017 HKEX s consultation on Review of the Corporate Governance Code and Related Listing Rules On 3 November 2017, the Hong Kong Stock Exchange (the

More information

ANNOUNCEMENT. EXPERT MEETING DRR4NAP Integrating Disaster Risk Reduction into National Adaptation Plans November 2017 Bonn, Germany

ANNOUNCEMENT. EXPERT MEETING DRR4NAP Integrating Disaster Risk Reduction into National Adaptation Plans November 2017 Bonn, Germany ANNOUNCEMENT EXPERT MEETING DRR4NAP Integrating Disaster Risk Reduction into National Adaptation Plans 27-28 November 2017 Bonn, Germany Organized by the United Nations Office for Disaster Risk Reduction

More information

2. Introduction of a carve-in mechanism in the endorsement process of IFRS. 3. Revision of the endorsement criteria in the IAS Regulation

2. Introduction of a carve-in mechanism in the endorsement process of IFRS. 3. Revision of the endorsement criteria in the IAS Regulation European Commission Attn. Valdis Dombrovskis Financial Stability, Financial Services and Capital Markets Union 1049 Bruxelles/Brussels Belgium Our ref : RJ-XXX Direct dial : (+31) 20 301 0391 Date : 19

More information

Future Fund s Approach to Climate Risk

Future Fund s Approach to Climate Risk Future Fund s Approach to Climate Risk Joel Posters Head of ESG IFSWF Climate Change Session 3 May 15, 2017 About the Future Fund Future Fund key characteristics A sovereign wealth fund established in

More information

The Constitution of Santos is not conducive to the right of shareholders to place resolutions on the agenda of a shareholder meeting.

The Constitution of Santos is not conducive to the right of shareholders to place resolutions on the agenda of a shareholder meeting. Santos Ltd February 2017 Resolution 1 Amendment to the Constitution To amend the constitution to insert at the end of clause 25 Notice of general meetings the following new sub-clause 25(e) The company

More information

COUNCIL OF THE EUROPEAN UNION. Brussels, 11 May /10 ECOFIN 249 ENV 265 POLGEN 69

COUNCIL OF THE EUROPEAN UNION. Brussels, 11 May /10 ECOFIN 249 ENV 265 POLGEN 69 COUNCIL OF THE EUROPEAN UNION Brussels, 11 May 2010 9437/10 ECOFIN 249 ENV 265 POLGEN 69 NOTE from: to: Subject: The General Secretariat of the Council Delegations Financing climate change- fast start

More information

Report of the Standing Committee on Finance

Report of the Standing Committee on Finance United Nations FCCC/CP/2018/L.13 Distr.: Limited 14 December 2018 Original: English Conference of the Parties Twenty-fourth session Katowice, 2 14 December 2018 Agenda item 10(b) Matters relating to finance

More information

Sustainability Reporting Connecting the Dots

Sustainability Reporting Connecting the Dots Sustainability Reporting Connecting the Dots Synne Mari Pedersen & Sunniva Bratt Slette Breakfast seminar, Sustainability Hub Norway Litteraturhuset, 28.04.2017 1 Introduction to sustainability reporting

More information

Climate Change and Green Finance

Climate Change and Green Finance Discussion Paper DP18/8 October 2018 DP18/8 Financial Conduct Authority How to respond Contents We are asking for comments on this Discussion Paper by 31 January 2019. You can send them to us using the

More information

A report by Friends of the Earth Europe, Action Aid, Finance Watch & SOMO

A report by Friends of the Earth Europe, Action Aid, Finance Watch & SOMO A report by Friends of the Earth Europe, Action Aid, Finance Watch & SOMO Introduction The Capital Markets Union (CMU) aims to stimulate the EU economy by further integrating the capital markets of Member

More information

The Financial System We Need Aligning the financial system with sustainable development

The Financial System We Need Aligning the financial system with sustainable development The Financial System We Need Aligning the financial system with sustainable development Nick Robins, GLOBE EU, Paris, December 2015 GREENING THE FINANCIAL SYSTEM A systemic approach: Financing for sustainable

More information

Summary and recommendations by the Standing Committee on Finance on the 2018 Biennial Assessment and Overview of Climate Finance Flows

Summary and recommendations by the Standing Committee on Finance on the 2018 Biennial Assessment and Overview of Climate Finance Flows 2018 Biennial Assessment and Overview of Climate Finance Flows Summary and recommendations by the Standing Committee on Finance on the 2018 Biennial Assessment and Overview of Climate Finance Flows I.

More information

MOTION FOR A RESOLUTION

MOTION FOR A RESOLUTION European Parliament 2014-2019 Committee on Economic and Monetary Affairs 2018/2689(RSP) 20.6.2018 MOTION FOR A RESOLUTION further to Question for Oral Answer B8-0000/2018 pursuant to Rule 128(5) of the

More information

Reporting on climate risks and opportunities

Reporting on climate risks and opportunities ICAEW IN ASSOCIATION WITH THE CARBON TRUST Reporting on climate risks and opportunities A PRACTICAL GUIDE TO THE RECOMMENDATIONS OF THE TASK FORCE ON CLIMATE-RELATED FINANCIAL DISCLOSURES 2 Introduction

More information

CSA Staff Notice Report on Climate change-related Disclosure Project

CSA Staff Notice Report on Climate change-related Disclosure Project -1- CSA Staff Notice 51-354 Report on Climate change-related Disclosure Project April 5, 2018 Table of Contents Introduction Executive Summary Part 1 Substance and Purpose 1.1 Purpose of Notice 1.2 Structure

More information

137th session 20 May 2015 Provisional agenda item 5. Financing dialogue. Report by the Secretariat

137th session 20 May 2015 Provisional agenda item 5. Financing dialogue. Report by the Secretariat EXECUTIVE BOARD EB137/3 137th session 20 May 2015 Provisional agenda item 5 Financing dialogue Report by the Secretariat INTRODUCTION 1. By decision WHA66(8) the World Health Assembly established a financing

More information

The Financial System We Need Aligning the financial system with sustainable development

The Financial System We Need Aligning the financial system with sustainable development The Financial System We Need Aligning the financial system with sustainable development Nick Robins, February 2016 FINDINGS A systemic approach: Financing for sustainable development can be delivered through

More information

The Evolution of SEC Disclosure

The Evolution of SEC Disclosure The Evolution of SEC Disclosure The Materiality of ESG Information and its Use by Investors Sustainability Accounting Standards Board & Workiva March 14, 2017 2017 SASB Obtaining Your CPE Credit One hour

More information

FRC Consultation on the UK Corporate Governance Code.

FRC Consultation on the UK Corporate Governance Code. FRC Consultation on the UK Corporate Governance Code. Response on behalf of the Church Commissioners for England, the Church of England Pensions Board and the CBF Church of England Funds Background information

More information

Frankfurt am Main, 23 March BVI s response to the ESA s consultation on EOS PRIIPs. General Comments

Frankfurt am Main, 23 March BVI s response to the ESA s consultation on EOS PRIIPs. General Comments Frankfurt am Main, 23 March 2017 BVI s response to the ESA s consultation on EOS PRIIPs General Comments It is decisive that the rules for EOS PRIIPs ensure meaningful transparency for investors without

More information

Welcome to the FinCoNet newsletter

Welcome to the FinCoNet newsletter Issue 1 March 2019 201420140142014 CONTENTS Welcome 1 In focus 2 Current issues forum 4 Microfinance: new caps for marginal debt value and daily interest rate Conduct of Business Returns for the South

More information

Task Force on Climate-related Financial Disclosures

Task Force on Climate-related Financial Disclosures Task Force on Climate-related Financial Disclosures Overview of Recommendations and Status Report October 2018 FINANCIAL DISCLOSURES Background G20 Finance Ministers and Central Bank Governors asked the

More information

The road ahead. KPMG s Survey of Corporate Responsibility Reporting New Zealand Supplement October kpmg.com/nz

The road ahead. KPMG s Survey of Corporate Responsibility Reporting New Zealand Supplement October kpmg.com/nz The road ahead KPMG s Survey of Corporate Responsibility Reporting 2017 New Zealand Supplement October 2017 kpmg.com/nz Contents 03 About this report 04 Scope and approach 06 Summary of key findings 09

More information

The ACORD 2020 View. Puneet Bharal ACORD

The ACORD 2020 View. Puneet Bharal ACORD 28 th Oct 2010 The ACORD 2020 View Puneet Bharal ACORD A Quick Recap...on last month s presentation by David Smith, CEO of Global Futures and Foresight Five Mega Trends 1. Globalisation 2. New consumption

More information

Your guide to ESG reporting

Your guide to ESG reporting Your guide to ESG reporting Guidance for issuers on the integration of ESG into investor reporting and communication Contents Introduction 2 Towards deeper understanding between issuers and investors 4

More information

Climate related risks to the financial sector A South African perspective

Climate related risks to the financial sector A South African perspective Climate related risks to the financial sector A South African perspective Evolving risks, Evolving responses 17 th Annual International Conference on Policy challenges for the financial sector Presenter:

More information

EU responses to climate security risks Climate Diplomacy Workshop at the European Parliament 20 February 2018

EU responses to climate security risks Climate Diplomacy Workshop at the European Parliament 20 February 2018 EU responses to climate security risks Climate Diplomacy Workshop at the European Parliament 20 February 2018 Alexander Carius, Director, adelphi The Global Risks Landscape 2018 2 Where will the world

More information

The climate risk reporting journey A corporate governance primer

The climate risk reporting journey A corporate governance primer The climate risk reporting journey A corporate governance primer A step-change in financial disclosure expectations In late 2015, in the shadow of the Paris Agreement and amid increasing concerns of investors,

More information

Revised additional tool under item 8 of the agenda

Revised additional tool under item 8 of the agenda Ad Hoc Working Group on the Paris Agreement Sixth part of the first session Bangkok, 4 9 September 2018 9 September 2018 Revised additional tool under item 8 of the agenda Further matters related to implementation

More information

IF CARBON FOOTPRINTING IS THE ANSWER, THEN WHAT IS THE QUESTION? ASSET OWNERS REFLECTIONS ON CURRENT PRACTICE IN CARBON REPORTING

IF CARBON FOOTPRINTING IS THE ANSWER, THEN WHAT IS THE QUESTION? ASSET OWNERS REFLECTIONS ON CURRENT PRACTICE IN CARBON REPORTING IF CARBON FOOTPRINTING IS THE ANSWER, THEN WHAT IS THE QUESTION? ASSET OWNERS REFLECTIONS ON CURRENT PRACTICE IN CARBON REPORTING There are expectations on institutional investors (asset managers, asset

More information

Treasury Board of Canada Secretariat. Performance Report. For the period ending March 31, 2005

Treasury Board of Canada Secretariat. Performance Report. For the period ending March 31, 2005 Treasury Board of Canada Secretariat Performance Report For the period ending March 31, 2005 Reg Alcock President of the Treasury Board and Minister responsible for the Canadian Wheat Board Departmental

More information

IDFC Position Paper Aligning with the Paris Agreement December 2018

IDFC Position Paper Aligning with the Paris Agreement December 2018 IDFC Position Paper Aligning with the Paris Agreement December 2018 The Paris Agreement bears significance to development finance institutions. Several articles of the Agreement recall it is to be implemented

More information