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Reports suggest that the UK won't reach its net-zero target without making the disclosure mandatory

Will 2020 be the year of mandatory climate disclosure?

Leading experts believe that it is "highly likely" that disclosing climate-related data to the Task Force on Climate-related Financial Disclosures (TCFD's) will become mandatory and have called on business professionals to start collecting and mapping data now.

The webinar is now available on-demand for registrants

Available to watch on demand: edie's TCFD webinar with Landsec, Avara Foods and CDSB

Experts from Avara Foods, Landsec and the Climate Disclosure Standards Board (CDSB) discussed how businesses should interact with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFDs) to improve sustainability, as part of a webinar that is now available to watch on-demand.

Image: World Economic Forum. CC BY 2.0

UN appoints Mark Carney to help finance climate action goals

Mark Carney has been appointed as UN special envoy for climate action and finance as he prepares to step down as governor of the Bank of England in January.

BCAM is calling for banks to set clear, timebound strategies for restrictions and phase-outs for financing fossil fuels and deforestation

Superficial progress: Global banks failing to deliver time-bound climate strategies

A new report has accused the banking sector of superficial progress when it comes to climate commitments, noting that uptake in low-carbon services, green bonds and reporting standards isn't being matched by demands to decarbonise portfolios.

The FCA said the statement 'will provide a foundation for its future work on climate change and green finance'. Image: FCA

FCA launches new measures to tackle 'greenwash' as green finance booms

The UK's Financial Conduct Authority (FCA) has unveiled a string of new measures designed to prevent issuers from 'greenwashing', covering challenges such as climate risk reporting and the accessibility of 'green' products such as mortgages.

Globally, around 800 firms have publicly given their support to the TCFD recommendations - but this doesn't necessarily result in full disclosure

Aldersgate Group: UK must make TCFD reporting mandatory to reach net-zero

The UK will not meet its 2050 net-zero goal unless corporates and investors are legally mandated to report on their climate risks and the actions they are taking to mitigate them, the Aldersgate Group has warned.

Carney (pictured) launched the TCFD in 2015 with Michael Bloomberg. Image: Bank of England

'Draw up climate rules or have them imposed', Bank of England tells corporates

The governor of the Bank of England has warned major corporations that they have two years to agree rules for reporting climate risks before global regulators devise their own and make them compulsory.

The report notes that investor pressure played a key role in net-zero commitments from corporates including Nestlé, ArcelorMittal, Centrica and Thyssenkrupp

Investor pressure slowly pushing firms to set net-zero targets

An investor group overseeing more than $35trn in assets has seen positive responses from corporates on calls to cut net emissions to zero by 2050, despite the group's first progress report finding that just 9% of the companies it has focused on have set targets aligned with a 2C warming.

Lewis is widely regarded as one of the most knowledgable figures in the energy investment space

Mark Lewis: Businesses 'underestimating' speed of low-carbon transition

EXCLUSIVE: Businesses seeking to future-proof themselves against the physical and societal impacts of climate change must set aside resources for scenario analysis - and treat the results of this process as real, rather than "hypothetical".

For Burberry, 1.5C was the intended target from the outset

How Burberry joined the business elite in setting a 1.5C science-based target

EXCLUSIVE: As Burberry became the latest corporate to set a science-based target aligned to the Paris Agreement's most ambitious pathway, the company's vice president of corporate responsibility outlined how the goal was set, and what happens next.

The corporates studied hail from 14 of the world's most carbon-intensive sectors, including oil and gas extraction and distribution 

Report: Just one-eighth of corporates aligning with Paris Agreement

An analysis of 274 corporates across the world's most carbon-intense sectors has found that just one in eight are reducing their emissions in line with the Paris Agreement's less ambitious trajectory of 2C.

Thomas noted that businesses needed to get better at providing relevant data to investors. Image: GFI

What does the Green Finance Strategy mean for business?

Following the launch of the UK Government's Green Finance Strategy, the chief executive of the Green Finance Institute has outlined how climate disclosure, policy signals and a robust business case for sustainability will transform how corporates engage with the finance community.

Eight reasons why green finance is becoming mainstream

Halfway through London Climate Action Week and it seems that sustainable finance is the hot topic. Here, edie explores the key drivers behind why green finance is growing from a niche interest to a business-critical concern.

The strategy includes expectations for publicly listed companies and asset owners to disclose climate risk and impact data by 2022

UK unveils Green Finance Strategy to drive progress towards net-zero goal

The UK Government has unveiled its highly anticipated Green Finance Strategy, outlining how the finance sector and better climate disclosure from corporates can drive progress towards wider action on climate change and the push towards net-zero emissions.

The framework was a key discussion point at Bloomberg's Sustainable Business Summit in London this week 

New EU framework to help firms measure and disclose climate risks and impacts

The European Commission has published a new framework aimed at helping corporates and investors to calculate and disclose their climate-related risks and impacts, in a bid to help accelerate financial support for the low-carbon transition.

The new report notes that almost 800 organisations have expressed support for the recommendations

Climate-related financial disclosures 'still insufficient for investors', says TCFD

Efforts to disclose climate-related data aligned to the Task Force on Climate-related Financial Disclosures (TCFD's) recommendations have increased by more than 50%, but concerns remain that companies aren't providing enough information to inform the investor community.

Around one-quarter of the potential losses were attributed to stranded assets

CDP: Climate risks could cost corporates $1trn, with biggest losses before 2025

A group of 215 of the largest companies in the world risk collectively losing up to $1trn to climate impacts, with most of this risk set to hit within the next five years, new research from CDP has found.

Low-carbon revenues generated in a 1.5C world are six times that of a 3C world, the report notes

Low-carbon transition puts $10trn at risk for inactive investors

A global coalition of financial investors has warned that more than $10trn (£7.7trn) in portfolio assets could be lost if the sector and governments fail to rapidly transition to a low-carbon economy.

TCFD uses scenario analysis to map company performance against various global warming trajectories

Can TCFD recommendations communicate a business response to the 'climate emergency'?

Against a backdrop of Extinction Rebellion protests and declarations of a "climate emergency", businesses will need to articulate their role in combatting climate change. Could the Task Force on Climate-related Financial Disclosures' (TCFD) recommendations create the ideal framework to do so?

The call to action has been sent to Domino's, McDonald’s, Chipotle, Yum! Brands, Restaurant Brands International and Wendy’s

Investors press fast food giants to 'urgently' improve supply chain sustainability

A coalition of investment firms with more than $6.5trn in assets under management have called on six of the world's largest fast food companies to take more ambitious action to tackle the climate and water risks within their supply chains, as a "matter of urgency".

100 board-level employees at the UK's largest companies were surveyed by IPSOS Mori, on behalf of the Carbon Trust

Survey: Two-thirds of UK businesses will include climate risks in this year's financial reports

Two-thirds of the UK's largest 100 companies are planning to incorporate climate risks in their annual financial or combined report this year as client, investor and customer demand for transparency on sustainability issues grow.

Fujifilm will analyse the impact of a 2C trajectory on its own operations, and those of other photography-focused corporates

Fujifilm to adopt TCFD recommendations

Multinational photography and printing firm Fujifilm has pledged to report on its sustainability progress in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and is encouraging other corporates to follow suit.

Léon Wijnands insists that the success of the climate disclosure movement could rely to an extent on the ability of the finance sector to develop a standard to attribute data to financial products.

Will 2019 be the year of climate-risk reporting?

The next 12 months will see a steep rise in the number of companies embedding climate-related data and disclosure into core business models, according to ING's global head of sustainability.

The new moves by Shell have been welcomed by investor body Climate Action 100+

Shell to pay executives in line with decarbonisation achievements

Oil and gas giant Royal Dutch Shell has today (3 December) pledged to link progress made towards its carbon reduction aims to the amount of pay awarded to members of its executive board, in a move to engage senior stakeholders with sustainability.

Most corporates are failing to meet all requirements of the EU’s Non-Financial Reporting (NFR) Directive, the report warns

CDSB: European corporates failing to track climate change impacts

Less than half (44%) of European corporates are currently tracking how climate challenges will affect their business models in the future or disclosing the full extent of their environmental impacts.

How does the Task Force on Climate-Related Financial Disclosures impact the SDGs?

The Task Force on Climate-Related Financial Disclosures, or TCFD, is all about climate change. Or is it? Carolina Karlstrom, independent action researcher and sustainability expert, takes a closer look at the financial disclosure initiative and identifies how its impact on the Sustainable Development Goals (SDGs) is wider than you might think.

The NCFA is urging corporates in

Corporates 'set to lose $1.6trn' without action on natural capital

FTSE100 firms face collectively losing $1.6trn of market capital if they fail to adopt a natural capital approach to decision-making, by assigning a monetary value to natural resources.

Norwegian firm Equinor ranked first in the report, after pledging to invest 15% of its CAPEX into low-carbon energy by 2030

Report: Oil and gas industry failing to invest in low-carbon projects

Global oil and gas firms have collectively invested just 1.3% of their combined capital expenditure (CAPEX) into low-carbon technologies and projects since the start of 2018, new research from CDP has concluded.

Through the scheme, the bodies have committed to support the Taskforce on Climate Related Disclosures (TCFD) recommendations

Corporate reporting bodies launch project championing TCFD alignment

A coalition of corporate reporting bodies including CDP and the Global Reporting Initiative (GRI) has launched a new scheme aimed at unifying the business community's approach to sustainability reporting.

None of the companies surveyed by Pinsent Masons were able to confirm specific targets for decarbonising their own operations

Report: Just 5% of UK pension funds possess a climate change policy

Just 5% of the UK's largest pension fund managers have a specific policy on climate change in place, despite almost three-quarters (74%) claiming to acknowledge the risks that climate challenges pose to the finance sector.

Ministers have accepted proposals to improve pension fund governance

Government snubs MPs' calls for mandatory climate-risk reporting

Ministers have rejected recommendations from MPs to introduce mandatory climate-related financial disclosures for large firms and asset owners.

The Government will publish the UK’s first ever Green Finance Strategy in Spring 2019

Clean Growth Fund spearheads Government's green finance commitments

As part of Green GB Week, the UK Government has announced a new £40m venture capital fund to help bring innovative clean technologies to market.

The IIGCC report follows studies highlighting inaction on climate issues across the finance sector

Global investors call on pension funds to address climate-related risks

A group of 161 investment firms with more than €21trn in collective assets under management have called on pension fund managers to factor climate-related risks into their planning processes.

The report once again highlights the urgent need for bold climate actions from business and policymakers

IPCC 1.5C report: How can business drive the creation of a carbon-neutral world?

The UN's Intergovernmental Panel on Climate Change (IPCC) is celebrating its 30th birthday this year, and has done so by releasing a landmark report that acknowledges the severity of the challenge at hand. But how can business stop being part of the problem, and co-create the necessary solutions?

The 513 organisations that have expressed support for the TCFD’s recommendations have a combined market capitalisation of $7.9trn

Climate disclosure enters 'mainstream', but better reporting required, warns TCFD

More than 500 companies have expressed support for the Task Force on Climate-related Financial Disclosures' (TCFD) recommendations. However, many businesses are failing to translate climate impacts into business risk.

The falling cost of renewables and shareholder demands for climate risk assessment are cited as significant drivers behind the trends visible in the FTSE 100 index this year

FTSE 100 firms step up efforts to manage climate change risks

A new report has highlighted a positive trend among FTSE 100 companies taking action to manage the risks and opportunities of climate change over the past 12 months.

Delegates discussed the key drivers that would impact sustainability reporting in the near future

TCFD, SDGs and pop-up squads: What the future holds for sustainability reporting

Sustainability and corporate responsibility managers from a range of businesses recently gathered in London for an exclusive roundtable hosted by edie and reporting and assurance firm DNV GL to discuss how new standards, systems and stakeholder demands are together revolutionising sustainability reporting.

The Unfriend Coal briefing has been published during a global reinsurance conference in Monte Carlo, in a bid to drive coal divestment image: Marion Esnault

Fresh warnings over lack of climate action across finance sector

The reinsurance and pension fund sectors are failing to progress the finance sector towards key climate goals by continuing to invest in coal projects over low-carbon alternatives, two reports have claimed.

Moody's Corporation integrated TCFD recommendations throughout its governance and reporting framework after its chief credit officer was invited to sit on the TCFD board

How the TCFD recommendations are reshaping Moody's CSR efforts

EXCLUSIVE: Moody's Corporation's global head of CSR Arlene Isaacs-Lowe believes that adopting the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) has enabled the company to become green finance "standard-setters" and champion the benefits of transparency to the wider industry.

None of the financial services firms surveyed placed high importance on air emissions in their annual reporting

Finance firms 'slowest' TCFD signatories to report climate impacts

Financial services firms that have committed to the Task Force on Climate-related Financial Disclosures’ (TCFD) recommendations tend to be less transparent in disclosing their climate impacts than TCFD signatories from other industries, a new study has revealed.

edie at 20: How did sustainability become so business-critical?

edie's 20th anniversary as a sustainable business media brand is an ideal opportunity to remind ourselves of the past two decades of corporate sustainability, which have seen it evolve from an environmental add-on to a fundamental aspect of growth.

What's the business case for climate science?

Let's be honest, the transition to a low carbon economy is going to require some difficult and far-reaching change from most companies and sectors. But emerging leadership from the corporate world is showing that remodelling business strategies around climate science is already driving innovation, growth and other business benefits.

Environmental verification: less mechanical, more collaborative

With the simultaneous advent of the Task Force on Climate-related Financial Disclosures (TCFD) and the EU Non-Financial Reporting Directive (EU NFR) over the course of the last 18 months, environmental reporting is being driven into the limelight in boardrooms in a manner it has seldom seen before.


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