SEC Chair on Climate Risk Disclosure

SEC Chair Gary Gensler spoke to PRI about climate risk disclosure requirements. Washington D.C. July 28, 2021 Thank you, Fiona, for the kind introduction. It’s good to be here with the Principles for Responsible Investment. As is customary, I’d like to note my views are my own, and I’m not speaking on behalf of the…

SEC Chair Gensler on Climate Risk Disclosures

Chair Gary Gensler spoke about upcoming SEC guidance on climate Risk to the Principles for Responsible Investment (emphasis added): Washington D.C. July 28, 2021 Thank you, Fiona, for the kind introduction. It’s good to be here with the Principles for Responsible Investment. As is customary, I’d like to note my views are my own, and…

Agenda – ISS Probes Boards’ Climate Risk Oversight

Proxy advisor Institutional Shareholder Services today said it is gathering views on the “minimum criteria for boards” in overseeing climate risk. Currently, the proxy advisor may issue adverse voting recommendations for director reelections if board members displayed “demonstrably poor risk oversight of environmental and social issues, including climate change.” It appears with this latest round…

Samantha Ross: The Role of Accounting and Auditing in Addressing Climate Change

U.S. federal securities laws are founded on the idea that transparency promotes well-functioning capital markets. This is particularly true when it comes to the urgent goal of reducing global greenhouse gas emissions to prevent the devastating impacts of climate change. For companies, those impacts include both physical risks, including the risk that facilities will be…

UN report puts climate change at heart of insurance risk assessment

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…

Opinion | Big Business’s Undisclosed Climate Crisis Plans – The New York Times

SEC Commissioner Allison Herren Lee writes about the inadequacy of the information investors get about climate change risk: As the climate crisis intensifies, U.S. environmental policy has moved dangerously backward, with nearly 70 environmental rules reversed during this administration, and 30 more reversals in process. This intransigent, head-in-the-sand approach will not alter the reality of…