tcfd

Related content

Image: Prysmian Group

Prysmian Group eyes net-zero emissions between 2035 and 2040

The world's largest supplier of cables to the energy and telecoms sectors, Prysmian Group, has pledged to reach net-zero for its global operations between 2035 and 2040, and a net-zero global value chain by 2050.

Waygood has been with Aviva Investors for 14 years, founding its Centre for Sustainable Fiance Excellence

Aviva's Steve Waygood: Now is the time for finance firms to become climate macro-stewards

With the world on track for 3.2C of warming by the end of the decade, by UN estimates, Aviva Investors' chief responsible investment officer Steve Waygood is urging professionals in his line of work to go beyond their four walls and influence international climate plans.

The new Alliance is expecting dozens of new members to sign up ahead of COP26 in November 

Insurance giants team up for net-zero alliance, but are urged to stop supporting fossil fuels

AXA, Allianz, Aviva, Generali, Munich Re, SCOR, Swiss Re and Zurich Insurance Group have launched a new 'Net-Zero Insurance Alliance', of which members will be required to deliver net-zero emissions by 2050 across their insurance and reinsurance portfolios.

All edie podcast episodes can be listened to via iTunes, Spotify and Soundcloud

Sustainable Business Covered podcast: Spotlight on green finance, ESG and the TCFD

With edie's Sustainable Investment Conference less than two weeks away, episode 104 of the Sustainable Business Covered Podcast explores an array of green investment topics with UKSIF, ING and Inspired Energy.

A Green Savings Bond offered by National Savings and Investments (NS&I) will also help fund green projects

Chancellor Rishi Sunak issues £15bn green gilt drive to assist net-zero ambition

Chancellor of the Exchequer Rishi Sunak has today (1 July) outlined plans to transform the UK’s financial services industry through £15bn of green bonds that will support projects that decarbonise key parts of the UK economy while improving climate resiliency and adaptation.

This report, sponsored by UL, examines how crucial green finance is in driving the net-zero transition and overcoming the climate crisis

edie's latest COP26 Primer report focuses on climate finance

As part of the brand-new Countdown to COP26 Festival of digital content and events, edie has this week launched its latest "Primer Report" which provides need-to-know insights into the key themes of this year's crucial climate talks. Up next: Climate Finance.

The webinar is now available to watch on-demand

Five top tips for adopting TCFD-aligned climate risk reporting for your organisation

edie recently hosted a 45-minute online masterclass on reporting in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), featuring experts from Inspired Energy and British American Tobacco. Here, we round five of the key takeaways.

COP26 Primer: Climate Finance

edie’s COP26 Primer Reports are about seizing the green opportunity. Produced in the run-up to the official talks, this mini-series of reports are based on the five key themes of COP26: Clean Energy, Clean Transport, Climate Resilience, Nature-Based Solutions, and Climate Finance.

The masterclass is available to watch on-demand

Available to watch on-demand: edie's masterclass on TCFD implementation for business

edie's latest webinar took place this week and focused on how businesses can get to grips with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). It is now available to watch on repeat.

The guide is free to download for edie users

edie launches new business guide on TCFD recommendations

edie has launched an updated Explains guide answering important questions for businesses looking to align their reporting with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).

The Aldersgate Group represents dozens of the UK's biggest businesses and trade groups

Net-zero, Brexit and Covid-19: Businesses say now is perfect time to 'green' UK's financial system

The UK government is being urged to ensure that its ongoing review of financial services regulations properly accounts for the scale of the twin climate and nature crises by influential business coalition the Aldersgate Group.

edie Explains: The Task Force on Climate-related Financial Disclosures (TCFD)

What are the TCFD recomendations? Why does climate disclosure matter? How do you access the financial impacts of climate change? And, what is scenario analysis? This free edie Explains guide gives you everything you need to know.

Aviva has been warning the Government that the financial sector is not yet aligned with the net-zero transition, and will continue to do so ahead of COP26

Aviva and WWF push UK to mandate climate transition plans for financial sector

British financial institutions should be mandated to outline their plans for decarbonising investments in line with the national net-zero target by the end of 2023, Aviva Investors is recommending.

The guide is free to download for edie users

edie launches new business guide on net-zero carbon reporting

edie has published a new free guide on reporting for businesses that are looking for advice on measuring and reporting climate impacts in line with the net-zero movement.

The UK's 2019 'State of Nature' report revealed that most UK species have declined since the 1970s, with 15% now facing extinction 

UK Government commits to 'nature-positive' future following landmark biodiversity review

Following the publication of the landmark Dasgupta Review, which argued the case for biodiversity considerations to be embedded in all economic decisions by the government, a new commitment for all large infrastructure projects to be 'nature positive' has been made.

Monzo, OakNorth and Vodafone also joined Tech Zero today

UK's fastest-growing tech firms unveil net-zero framework for the sector

A new taskforce, set up to inform the Government's green policymaking and garner support for climate action across the tech industry, has today (14 June) published a set of commitments designed to unify ambition and action in the sector.

The official communique covers most parts of the green agenda, but with detail lacking

G7: What was (and wasn't) agreed by world leaders to combat the climate crisis

From "green Marshall Plans" and net-zero energy sectors to a lack of clarity on green spending and transport decarbonisation, edie rounds up what was and wasn't agreed at the G7 Summit.

Through the initiative, asset owners commit to decarbonising pension funds and investment portfolios by 2050 at the latest

ABP and National Trust sign up to net-zero investment initiative

Europe's largest pension fund, the Church of Sweden and the National Trust are among six new signatories to a global net-zero asset owner commitment to decarbonise financial portfolios in line with the ambitions of the Paris Agreement.

The UK was the first major nation to confirm plans to mandate climate disclosure back in November 2020

G7 agree on 'historic steps' to make climate reporting mandatory

Chancellor of the Exchequer Rishi Sunak met with finance ministers in London this weekend, with discussions leading to a historic agreement that G7 nations will mandate climate reporting in line with the recommendations of the global Taskforce on Climate-related Financial Disclosures (TCFD).

The two-day digital event takes place on 13-14 July

JP Morgan, Citi and BlackRock all confirmed for edie's Sustainable Investment Conference 2021

Financial and environmental experts from some of the world's largest investors and banks will discuss the prominent rise in environmental, social and governance (ESG) investing and what that means for business at edie's Sustainable Investment Conference next month.

The TNFD has officially launched today

Can the Taskforce on Nature-related Financial Disclosures solve the global ecological crisis?

The Taskforce on Nature-related Financial Disclosures (TNFD) officially launched on Friday (4 June) with an overarching aim to align corporate reporting and financial spending to alleviate nature-related risks. Here, edie explores whether the new initiative can generate enough momentum to deliver tangible change.

Certain firms will be required to disclose in line with TCFD recommendations in the UK from 2022, but investors are arguing the case for a joined-up global approach 

Give us sector-specific guidance on net-zero transition, investment giants tell G7 nations

A group of investors with £8.5trn of assets under management has called on G7 nations to introduce new climate disclosure and action mandates for big businesses - and to provide more detail on how their long-term climate goals will be delivered.

HSBC must now publish a plan outlining its new phase-out policy

Shareholders pass vote for HSBC to phase-out global coal financing by 2040

Shareholders of HSBC have today passed a proposed management resolution that commits the bank to phase-out financing for the coal industry by 2040 worldwide, following successful campaigning from investors.

The two upcoming events form an integral part of the six-month Festival

Countdown to COP26 Festival: Flagship July events to focus on crucial themes of climate talks

edie has today (26 May) officially unveiled the content programmes and initial speaker line-ups for the next two events to be delivered under the Countdown to COP26 Festival programme - covering the key COP themes of net-zero carbon energy, clean transport and climate finance.

With the sustainability conversation evolving rapidly, what does a modern document, produced in line with best practice, look like?

Integrated and innovated: What's next for the sustainability report?

Against a backdrop of changing environmental science and disclosure legislation, compounded by changing public sentiment, the corporate sustainability conversation is evolving rapidly. After strings of new social and environmental targets were set over the past 12 months, many firms are also evolving ways of reporting progress.

Yum! Brands, which owns Taco Bell and KFC, is one of the brands to have improved climate targets 

Fast-food giants beef up climate commitments following investor pressure

The likes of McDonald's, Domino's and Yum! Brands, which owns KFC, have all improved their climate commitments this year following pressure from an $11trn coalition of investors.

Of the businesses that do report on financed emissions, most disclose less than half of their overall impact

CDP: Three-quarters of finance giants not disclosing climate impacts of portfolios

The average finance firm’s financed emissions will be 700 times higher than those of their direct operations- but just one in four companies are measuring and disclosing them.

BlackRock now manages more than $200bn in long-term sustainable strategies

BlackRock launches temperature-aligned investments funds

The world's largest investor BlackRock has unveiled two new temperature-based exchange funds aimed at helping investors align portfolios with the pathways of the Paris Agreement.

Revised targets will be published at an as-yet-unspecified date

MSCI commits to net-zero emissions before 2040

American finance firm MSCI has announced its intention to reach net-zero emissions before 2040, pledging to revamp its current decarbonisation goals and align with the recommendations of the Taskforce on Climate-Related Financial Disclosures (TCFD).

While progress accelerated this year, the TPI is warning that high emitting companies are still, by and large, jeopardising Paris Agreement progress 

Report: Net-zero targets from corporates becoming more 'genuine'

An analysis of the climate commitments of 401 companies has found that the uptake of "genuine" net-zero targets - those regarded as ambitious and not greenwashing - has more than doubled in the past year.

Under the UNFCCC developed nations committed to financing $100bn annually by 2020, however, developed nations have failed to fulfil this commitment

G7 ponders increasing climate finance in build-up to COP26

Chancellor Rishi Sunak met with G7 finance ministers and central bank governors to discuss the role of finance in supporting the net-zero transition and implored developed nations to raise efforts to generate $100bn in annual revenue to support developing nations combat the climate crisis.

36% of assets under management globally are now covered by the scheme

Dozens of big-name investors including BlackRock join Net Zero Asset Managers Initiative

The Net Zero Asset Managers Initiative now covers more than one-third of assets under management globally, after 43 big names, including BlackRock and the Vanguard Group, signed up.

The decision could impact more than 1,500 businesses

Government ponders mandatory TCFD requirements for businesses in 2022

The Government is considering creating a legal requirement for private UK companies to outline and disclose climate-related risks to their business in line with Taskforce on Climate-related Financial Disclosures (TCFD) recommendations, with a mandate potentially coming into force next year.

JBS has also committed to eliminating all cases of illegal Amazon deforestation from its supply chain by 2025 and across other Brazilian regions by 2030

Meat giant JBS commits to net-zero emissions and zero deforestation

Brazilian meat producer JBS has ringfenced $1bn to reaching net-zero emissions across its value chain by 2040, while also aiming to eliminate illegal deforestation.

The report aims to quantify how robust a net-zero target is by whether it meets the criteria set out by the UN Race to Zero Campaign

One-fifth of world's largest corporates have set net-zero targets

More than 20% of the world's largest corporates, worth sales of more than $14trn, have now committed to net-zero targets, but more transparency and short-term targets are required to navigate potential greenwash issues.

The resolution will be put to a vote in May at HSBC’s AGM

HSBC to vote on phase-out of fossil fuel funding

HSBC will propose a new commitment to completely phase-out financing of coal-fired power and thermal coal mines by 2040 globally, following negotiations with a group of investors with $2.4tn in assets under management.

Pictured: Jersey City, where Goldman Sachs Tower is located

Goldman Sachs pledges net-zero supply chain by 2030, financed emissions by 2050

Goldman Sachs' chairman and chief executive David Solomon has updated the firm's sustainable finance commitments to target net-zero financed emissions by 2050.

The company recorded a 12% reduction in relative carbon emissions from its breweries in 2019

Carlsberg closes in on carbon reduction goals

Brewing giant Carlsberg's latest sustainability report has revealed that the company has reduced carbon emissions by 39% since 2015, as it closes in on a goal to halve brewery emissions by 50% by 2022.

Fewer than 25% reference the impact that the climate crisis will have on future and current business models

Business giants' climate disclosure 'clearly inadequate', lawyers warn

Lawyers have warned that the majority of FTSE 100 and the largest companies on the FTSE 250 are failing to disclose adequate climate-related data as part of annual corporate reporting frameworks, with some potentially breaching UK law.

A host of green finance experts met virtually on day one of the Sustainability Leaders Forum

Finance and policy: The external drivers forcing businesses to take climate action

Sustainability professionals have often found frustration when trying to embed CSR across an entire organisation, but the mainstreaming of Environmental, Social, and Governance (ESG) investing looks set to create new momentum behind the green recovery.

The bank doubled its corporate bond programme in response to Covid-19. Image: George Rex, CC BY SA

Bank of England's high-carbon financing a 'moral hazard', MPs warn

The Bank of England risks creating 'moral hazard' by continuing to finance high-carbon projects and companies and providing no-strings-attached financing to carbon intensives companies, the Environmental Audit Committee (EAC) has warned.

Pictured: Compere Julia Bradbury (right) and the Green Finance Institute's Emma Harvey (left) present the award

What makes a sustainability leader? Meet CBRE Global Investors

With less than two weeks until the 2021 Sustainability Leaders Awards, this feature series showcases the achievements of the 2020 winners and reveals their secrets to success. Up next: The winners of the Investor of the Year Award, CBRE Global Investors.

#SustyTalk: BNP Paribas' Mark Lewis on market shifts for the net-zero transition

edie's #SustyTalk interview series continues with an exclusive talk with BNP Paribas Asset Management's chief sustainability strategist Mark Lewis.

Pictured: The Bauhaus office block in Manchester, which is WELL Gold certified

Orchard Street targets net-zero across £4bn portfolio of buildings

Commercial property investment manager Orchard Street, which manages retail units, offices and industrial facilities worth more than £4bn, has outlined plans to reach net-zero ahead of the UK government's 2050 deadline.

The EU NFRD reporting mechanism was created to ensure that the impacts of sustainability are considered more broadly throughout the whole business

NGOs call for heightened standards on corporate sustainability reporting

An alliance of NGOs has called for the European Union's Non-Financial Reporting Directive (NFRD) to be reformed to ensure that more corporates are disclosing relevant climate-related information.

If the new resolution receives more than 75% of votes at the bank’s upcoming AGM in April, HSBC would be required to publish a strategy

Investors file climate resolution at HSBC

Investors with a combined $2.4trn in assets under management have filed a resolution at HSBC, calling on the bank to publish a strategy that outlines efforts to reduce exposure to fossil fuel assets.

edie has highlighted 21 aspirational new goals that professionals can work towards to help drive business prosperity while alleviating some key environmental and planetary concerns

21 New Year's resolutions for sustainability professionals in 2021 and beyond

At last, 2020 has drawn to a close and while the first parts of a new year might not create a respite from a global pandemic and an economic crash, it does create the ideal opportunity to look at the climate crisis with a reinvigorated approach.

Reporting was particularly poor on Scope 3 (indirect) emissions, which, for most businesses, make up the majority of their emissions footprint

Report: Just 3 in 10 European businesses are properly disclosing their climate impact

Only 30% of Europe's largest companies publicly publish detailed information on their climate policies, emissions footprint and climate risk, an analysis of 300 major businesses has found.

Oil and gas majors, along with materials giants, airlines and automakers, received the letter 

Disclose climate risks or face divestment, investors warn Europe's largest companies

A coalition of investors representing more than $9trn of assets has asked some of Europe's largest and highest-emitting companies, like Shell and Maersk, to prove they are aligning with the Paris Agreement and to improve climate risk disclosure.

More than 900 cities and more than 9,600 businesses disclosed information on climate change, forests or water security

CDP: Companies worth half of global market cap are now disclosing environmental data

Non-profit CDP has revealed that a record 10,000 companies, cities, states and regions have reported environmental data during 2020, making it a record year for disclosure.

Major investors and influential corporate groups had been encouraging the changes

Chancellor Rishi Sunak confirms UK's first sovereign green bond, mandatory TCFD disclosures

Chancellor of the Exchequer Rishi Sunak has made a string of major announcements on green finance, confirming that the UK will issue its first green gilts in 2021 and will introduce new climate disclosure requirements.

In the wake of Covid-19, risk management, adaptation and resilience have moved up the business agenda

Half of UK businesses 'have not prepared for climate risks', survey finds

A survey of 122 of the UK's biggest businesses has found that half have done little or no work to prepare for climate change risks - both physical and transition-related.

The framework aims to help businesses minimise physical and transition risks 

TCFD gains 500 global supporters amid Covid-19, but full alignment remains rare

The Task Force on Climate-related Financial Disclosures (TCFD) has revealed that more than 500 organisations have pledged support for its recommendations since February, but that reporting remains inconsistent.

The Council is additionally calling for organisations to declare support for inclusion, equality and diversity and to eliminate discrimination

WBCSD launches net-zero criteria for new and existing business members

The World Business Council for Sustainable Development (WBCSD) has launched new criteria to ensure that its business members align to science-based and net-zero targets to reduce emissions by no later than 2050.

Green finance and dimensions of financial risk have been key talking-points in the wake of Covid-19

Just 3 in 10 UK banks have a net-zero target, PwC claims

A survey of 17 of the UK's largest banks has found that just five of them have net-zero targets or science-based emissions targets, meaning they risk breaching their legal requirements on climate change.

The IA joins bodies like the Aldersgate Group in calling for stricter TCFD disclosure requirements

Investors worth $8.5trn call for mandatory climate risk reporting for big businesses

Climate risk reporting should be made mandatory for the UK's biggest publicly listed businesses, an influential group of investors has told Ministers and regulators.

Several major banks have outlined new climate targets since the pandemic began

HSBC sets net-zero target, plans $750bn of low-carbon investment by 2030

HSBC has committed to reaching net-zero financed emissions by 2050 and outlined plans to finance at least $750bn of low-carbon activities within a decade.

Companies receiving the letter collectively account for 80% of industrial greenhouse gas emissions generated globally each year

Investors covering $47trn ask world's highest-emitting corporates to prove net-zero alignment

An initiative involving 500+ investors representing $47trn in assets has asked 161 of the world's largest corporate emitters, including fossil fuel and mining giants, requesting that they commit to net-zero targets and prove they are changing their business models and processes accordingly.

Moving beyond ESG to real world impact in a new era of scrutiny for investors

For anyone who thinks sustainable investing is just about climate, the Covid-19 crisis has proven that businesses becoming resilient to climate change, have also proven best-prepared to ride the shock of the current pandemic.

Differentiating from sustainable to transitional finance could impact society across the globe

Inclusive recovery: Can a post-pandemic economy shift society and sectors to greener pastures?

The world is still reeling from the continued impacts of the coronavirus pandemic, but the financial decisions that are made now will determine whether all sectors and parts of society are brought along the green recovery.

Schemes will be required to follow the TCFD's framework

UK's largest pension schemes set for mandatory climate risk reporting

UK pension schemes will be mandated to disclose the climate-related risks posed to assets in their portfolios by the end of 2022, the Department for Work and Pensions (DWP) has said.

#SustyTalk: ITV's Julia Giannini on science-based targets, supply chains and disclosure

edie's #SustyTalk interview series continues with content editor Matt Mace discussing ITV's new science-based carbon targets with the company's senior manager of Social Purpose Julia Giannini.

ITV has committed to Albert certification for programmes across all of its channels, and aims to achieve this by the end of 2021

ITV commits to 46% reduction in emissions through 1.5C science-based targets

Broadcaster ITV has outlined new targets to reduce emissions by more than 46%, reach 100% renewables and certify its studios and programmes to sustainability standards.

The new investor group will focus on improving corporate understanding and action on the materiality of climate risk

Private equity investors launch Paris-aligned climate disclosure framework

A group of private equity investors have launched an international network committing to engage with corporates in reducing carbon emissions in line with the needs of the Paris Agreement.

Morgan Stanley will attempt to drive engagement with a new global standard across its sector

Morgan Stanley to disclose climate impact of investments

Morgan Stanley has become the first US-based global bank to commit to measuring and disclosing the environmental impact of its investment portfolio and loan offerings and will join a global partnership to drive climate action across the global accounting sector.

The guide is free to download

edie launches new business guide on Taskforce on Climate-related Financial Disclosures

edie has launched a new Explains guide outlining the key considerations and answering important questions for businesses looking to align their reporting with the recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD).

Just 1 in 10 UK businesses assessing climate risk as a priority, survey reveals

A survey of more than 500 businesses has revealed that while three-quarters are concerned about climate-related risks, just one in ten consider measuring and disclosing their climate-related risks a priority.

A recent YouGov survey of more than 4,400 Brits found that 72% do not know whether their pension is invested in line with their values

Pension funds covering £3trn pressured on fossil fuel investments and net-zero alignment

Comic Relief co-founder Richard Curtis has launched a new campaign pressuring UK pension funds to halve the emissions of their portfolios by 2030 and bring them to net-zero by 2050.

The UK's recovery plan is anticipated for publication in the second half of June

Carbon pricing, climate disclosure and COP26: Businesses outline key asks for Covid-19 recovery policy

The Aldersgate Group - an alliance of dozens of business and civil society leaders - has published a new briefing outlining key policy changes and low-carbon investments it believes should be made to ensure the UK's recovery from Covid-19 produces a greener, more inclusive and resilient economy.

Fossil fuel majors are believed to have received more than £2trn in finance since the Paris Agreement was ratified

Report: Global carbon budget will be exhausted in 15 years without fossil fuel finance overhaul

Without drastic action from banks, policymakers and regulators, the world risks becoming stuck in a "climate finance doom loop", whereby financial systems support the organisations contributing most to environmental changes which undermine their very security.

he 1,051 companies contacted account for $8trn in market capitalisation and are estimated to emit more than 4,800 megatonnes of carbon

Investors target Facebook, Nintendo and other business giants over climate disclosure

More than 1,000 multinational companies have been contacted by a group of more than 100 investors, calling for relevant data on environmental performance and stewardship to be disclosed to CDP.

Just 6% had explored short, medium and long-term risks that could emerge as the world moves along the low-carbon transition

Business giants failing to disclose climate-related risks

Europe's largest businesses are failing to provide relevant climate-related data to investors, which could jeopardise the European Union's aims to deliver a "just" carbon-neutral transition by 2050.

Both internally and externally the tools are being developed and a movement is emerging to kickstart a new era of sustainable business.

Chief value officers and ESG investors: What could green finance look like in the new normal?

Whatever the new normal looks like once nations have battled their way through the coronavirus, the recent rhetoric around green finance suggests that both internally externally, the value of sustainability to a business is set to grow.

The report is free to download for sustainability professionals

edie launches Sustainability Reporting and Communications Handbook to drive engagement during lockdown

edie has today (4 May) published a brand-new, free report detailing how sustainability professionals can relay the importance of sustainability to key stakeholders during the coronavirus pandemic; along with fresh insights to create, deliver and share a compelling sustainability report.

To date, 861 companies have committed to science-based targets to reduce emissions

Refinitiv, JLL and Ball unveil 1.5C science-based carbon commitments

Refinitiv has committed to setting science-based targets to reduce emissions in alignment with the Paris Agreement, while manufacturer Ball and real estate firm JLL have confirmed that their targets have been approved by the Science Based Targets initiative (SBTi).

Western Europe continues to be the most mature market, accounting for nine of the top 10 and 12 places across the respective rankings

London tops green finance rankings, for now

London has again topped a ranking list of major cities for the quality of its green finance offerings and services, but looks set to slide down the table over the coming months.

Companies are performing slightly better on the governance of climate-related risks

Heavy-emitting firms 'off-track' to deliver low-carbon world

More than 80% of the highest-emitting listed companies are failing to deliver emissions reductions aligned to the Paris Agreement's 2C global warming limit, with many companies also failing to account for climate mitigation and risk strategies.

Only two companies, Tyson Foods and Marfrig, representing 5% of the 43 firms assessed, have publicly disclosed a climate-related scenario analysis

Meat sector 'facing ruin' as climate change set to cripple earnings

The increased impacts of climate change coupled with rapid growth of alternative proteins will put "billions of dollars at risk" in the meat sector, as a new study warns that companies are failing to disclose climate-related data or examine how they would perform based on numerous climate pathways.

Asset managers, corporates and the public remain largely unaware of the climate risks of their investments

Corporates and asset managers scrutinised as climate disclosure requirements take shape

As the Financial Conduct Authority (FCA) lines up new corporate disclosure measures, the Treasury Committee and NGO ShareAction have launched separate examinations of the performance of asset managers against key Environmental, Social, and Governance (ESG) metrics.

The strategy seeks to develop “open-source, business-relevant reference scenarios” for regulators, financial firms and businesses to test climate resilience investment

'Investing for net-zero must go mainstream': COP26 finance strategy unveiled

The UK has published its COP26 strategy to help private finance support a global economic transition to net-zero emissions, with a heavy focus on exploring mandatory reporting requirements for climate-related data.

Damage caused by the River Don in Sheffield, Yorkshire, which burst its banks in November due to flooding

Are businesses ignoring climate resilience on the net-zero journey?

From the flooding caused by Storm Dennis in the UK to the wildfires that have plagued Australia, the damage caused by climate change is becoming more tangible and frightfully frequent. But is the business response of pledging to deliver net-zero emissions enough?

The FRC will consider how investors are addressing climate change under a new Stewardship Code, which will be issued from the beginning of 2021

Financial Reporting Council launches 'major' review of corporate climate reporting

The Financial Reporting Council (FRC) is set to launch a major review into the quality of how companies and auditors are reporting on climate change impacts and risks, including the pace at which the Task Force on Climate-related Financial Disclosures (TCFD) framework has been adopted.

The aim is to funnel more investment into projects working to minimise fashion's negative impacts on people and planet. 

Fresh funding for initiative to help investors support sustainable fashion

Laudes Foundation, Brenninkmeijer family's recently-launched philanthropic organisation, has backed a project working to engage investors with sustainable fashion, in a bid to scale up low-carbon, resource-efficient materials and business models across the global sector.

The TCFD formed in 2015 and launched its recommendations in June 2017

'Climate risk is financial risk': TCFD surpasses 1,000 global supporters

The Task Force on Climate-related Financial Disclosures (TCFD) has revealed that more than 1,000 organisations are supporting its recommendations, including corporates with a combined market cap of $12trn and investors with $138.8trn of assets under management collectively.

Johnson said Carney would help the UK to lead in mobilising businesses and investors to support a net-zero revolution  Foreign and Commonwealth Office / CC BY (https://creativecommons.org/licenses/by/2.0)”

Mark Carney announced as Boris Johnson's finance advisor for COP26

Prime Minister Boris Johnson has appointed the departing Governor for the Bank of England Mark Carney as his Finance Advisor for the COP26 climate summit, taking place in Glasgow at the end of the year.

Baig has been working on corporate governance and disclosures for more than 15 years

Aviva Investors: Better corporate disclosure needed to help sustainable finance go mainstream

EXCLUSIVE: Investment firms are heeding climate warnings and honing their approach to sustainability, but ultimately need more information from the businesses in their portfolios in order to drive transformational change.

Bank of England planning mandatory climate 'stress tests' for banks and insurers

The Bank of England has unveiled plans to introduce a mandatory and uniform climate risk test for major banks and insurers in 2021.

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.

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.


Suggested keywords