Financial Stability Board

Scotiabank Proudly Supports the Task Force on Climate-related Financial Disclosure

Press Release

TORONTO, February 5, 2018 /3BL Media/ - Scotiabank today proudly announced its support of the Financial Stability Board (FSB) Task Force on Climate-related Financial Disclosures (TCFD).

Companies Should Report Possible Climate Costs, Say Global Executives

The information should routinely appear in financial statements, according to recommendations to be presented to G-20 leaders
Article

Originally posted on Wall Street Journal.

LONDON—Companies should publish an assessment of the losses they could suffer through climate change as part of their routine financial statements, according to a panel of financial and business executives chaired by Michael Bloomberg.

Carney Panel Urges CEO Compensation Link With Climate Risk

Article

Originally posted on Bloomberg.com

Energy companies should consider telling investors how executive compensation is linked to climate change risks, according to a panel advising the Group of 20 nations.

Mark Carney: Businesses Must Come Clean About Climate Change Risks to Avoid "Tragedy"

Firms must discuss the impact of specific climate change scenarios in their financial statements to ensure transparency, report says
Article

Mark Carney backed a raft of new measures to ensure businesses and investors do more to combat the “tragedy” of climate change.

The recommendations, published by an international task force headed by billionaire New York City mayor, Michael Bloomberg, said investors need more information about the risks companies face from global warming so they can properly allocate funds.

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MPs from 34 Countries Write to Stock Exchanges Asking Them to Make Firms Reveal Climate Change Risks

The campaign follows comments by Bank of England governor Mark Carney
Article

An international alliance of over 100 MPs from 34 different countries have written to the world’s stock exchanges calling on them to factor in the financial risks of climate change.

Mark Carney said today that investors “currently don’t have the information to respond to these developments”.

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G20 Task Force Wants Companies to Come Clean on Climate Risk

Article

A global task force set up to try to prevent market shocks from the warming of the planet will ask companies to disclose how they manage risks to their business from climate change and greenhouse gas emission cuts.

Although the measures recommended by the Task Force on Climate-Related Financial Disclosures (TCFD) are voluntary, some of its members argue they should become mandatory.

"Only then will climate risk become integral to corporate governance and how we all do business," Mark Wilson, chief executive of insurance firm Aviva Plc, said in a statement.

Companies Must Disclose Climate-change Risk: Carney Panel

Article

Corporations, especially those in the financial and energy sectors, should provide investors with clear and systematic disclosure of the risks that climate change poses to their future economic health, a task force reporting to Bank of England Governor Mark Carney recommended Wednesday.

The group, headed by Bloomberg LP founder Michael Bloomberg, pointed to carbon-intensive, fossil-fuel companies as being among those that will be most significantly affected by the transition to a lower-carbon economy, with risks being borne by their lenders and investors.

Companies Need to Disclose More on Climate Risks, Panel Says

Article

Investors need more information about the risks companies face from global warming so they can fund development of the new technologies that are needed to control climate change and mitigate its effects, a task force said Wednesday.

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