A report produced by the United Nations (UN) in collaboration with 22 major insurance firms has suggested that the insurance industry needs to adopt an integrated approach in order to manage future climate change risk. The final report of the UN’s Environment Programme’s Principles for Sustainable Insurance Initiative, which aims to pilot recommendations from the…
Tag: climate emergency
Make climate risk reports mandatory for 480 FTSE firms, say investors | Environment | The Guardian
An influential group of investors is urging UK regulators to make climate risk reporting mandatory for nearly 500 FTSE-listed firms. The Investment Association (IA), which represents 250 members with £8.5tn in assets, has thrown its weight behind calls for compulsory environmental disclosures, amid concerns that listed companies are not being transparent about how climate risks…
Banks And Climate Crisis: Time For Stakeholder Governance And Reinvention — Dina Medland
A report funded by eight banks from around the world and just published by the Banking Environment Initiative (BEI) and the University of Cambridge Institute for Sustainability Leadership (CISL) looks at ways in which banks can serve to accelerate the financing of the low carbon economy, and in so doing develop a vision for a…
Quants Say They Can Make Investing More Sustainable – Bloomberg
Some companies disclose a lot of information about sustainability, labor practices, or gender equity. Others say almost nothing. A fund manager buying a few dozen large-cap U.S. stocks may be able to have analysts dig up enough corporate info to make a decision. But things get harder if you want to be able to choose…
Climate Change Will Cost Us Even More Than We Think
A set of assumptions and practices in economics has led economists both to underestimate the economic impact of many climate risks and to miss some of them entirely. That is a problem because, as the report notes, these “missing risks” could have “drastic and potentially catastrophic impacts on citizens, communities and companies.” via Opinion |…
Fashion Companies Reach Landmark Sustainability Accord Ahead of G7 Summit – Fortune
The fashion industry is perhaps second only to the automotive industry in terms of its contributions to climate change, so this is a very significant step forward. This afternoon at the Élysée Palace, French President Emmanuel Macron and Kering chairman and chief executive François-Henri Pinault unveiled a new plan to reduce the environmental impact of…
GOP Lobbyists Helping U.S. Companies Exploit the Amazon
The Intercept has an excellent expose of the role of US lobbyists in promoting the catastrophic destruction of the Amazonian rainforest. This summer, fires are being used to clear wide swaths of the Amazon at an unprecedented rate. One-fifth of the Amazon has already been destroyed in the past 50 years; further industrialization of the rainforest risks destroying…
Nell Minow on ERISA, the Trump Executive Order, and ESG
VEA Vice Chair Nell Minow writes on the Harvard Law School Forum on Corporate Governance and Financial Regulation about the Labor Department’s review of ERISA fiduciaries and ESG under the Executive Order issued last month by President Trump. She wrote: ERISA, the 1974 law that governs pension funds, recognizes that the third parties who manage…
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