Financial Stability Board launches climate disclosures
Monday, 12 07 2015, Category: Insurance and Reinsurance, Country: World
Mark Carney, Chair of the Financial Stability Board (FSB), has just announced the establishment of an industry-led disclosure focused task force on climate-related financial risks, aiming to encourage companies to be more transparent on physical, liability and transition risks of climate change.
We’ve written about the discussions on disclosure of disaster risks before, with the 1-in-100 Initiative looking at how companies can disclose their exposure to climate and weather disasters. This Task Force on Climate-related Financial Disclosures (TCFD) takes this initiative to the next level, as we wrote on the FSB’s proposal a couple of weeks ago, bringing global financial oversight backing and is likely to help accelerate these goals.