Materiality and Climate-related Financial Disclosures
| Author | : Climate Disclosure Standards Board (CDSB) |
| Publisher | : |
| Total Pages | : |
| Release | : |
| Genre | : |
| ISBN | : |
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Materiality And Climate Related Financial Disclosures PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Materiality And Climate Related Financial Disclosures PDF full book. Access full book title Materiality And Climate Related Financial Disclosures.
Managing Climate Risk in the U.S. Financial System
| Author | : Leonardo Martinez-Diaz |
| Publisher | : U.S. Commodity Futures Trading Commission |
| Total Pages | : 196 |
| Release | : 2020-09-09 |
| Genre | : Science |
| ISBN | : 057874841X |
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This publication serves as a roadmap for exploring and managing climate risk in the U.S. financial system. It is the first major climate publication by a U.S. financial regulator. The central message is that U.S. financial regulators must recognize that climate change poses serious emerging risks to the U.S. financial system, and they should move urgently and decisively to measure, understand, and address these risks. Achieving this goal calls for strengthening regulators’ capabilities, expertise, and data and tools to better monitor, analyze, and quantify climate risks. It calls for working closely with the private sector to ensure that financial institutions and market participants do the same. And it calls for policy and regulatory choices that are flexible, open-ended, and adaptable to new information about climate change and its risks, based on close and iterative dialogue with the private sector. At the same time, the financial community should not simply be reactive—it should provide solutions. Regulators should recognize that the financial system can itself be a catalyst for investments that accelerate economic resilience and the transition to a net-zero emissions economy. Financial innovations, in the form of new financial products, services, and technologies, can help the U.S. economy better manage climate risk and help channel more capital into technologies essential for the transition. https://doi.org/10.5281/zenodo.5247742
Climate Risk - Technical Bulletin
| Author | : Sustainability Accounting Standards Board |
| Publisher | : Createspace Independent Publishing Platform |
| Total Pages | : 0 |
| Release | : 2017-01-19 |
| Genre | : Accounting |
| ISBN | : 9781542365086 |
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SASB's Technical Bulletin on Climate Risk is designed to help investors better understand, measure and manage their exposure to climate-related risk. The research finds that climate change affects 72 out of 79 industries (93 percent of the capital markets, or $27.5 trillion) but manifests differently from one industry to the next. Due to the ubiquity of climate risk, investors can't simply diversify away from it; instead they must focus on managing it-and on encouraging portfolio companies to manage it-in all its forms. The foreword to the guide, authored by former Secretaries of the Treasury Robert Rubin and Hank Paulson, emphasizes the need for better disclosure. "If investors are to effectively evaluate climate risk, they need a far better understanding of granular, industry-specific climate impacts, with industry-specific standards by which to evaluate corporate performance on these issues. By adopting a set of industry-based market standards for disclosure, especially in SEC filings, investors will be able to accurately compare and contrast companies," they write. "This latest SASB bulletin is a good next step toward this goal, and offers for the first time a comprehensive guide to understand and measure the unique climate impacts across all industries of the economy."
The Integrated Reporting Movement
| Author | : Robert G. Eccles |
| Publisher | : John Wiley & Sons |
| Total Pages | : 336 |
| Release | : 2014-10-20 |
| Genre | : Business & Economics |
| ISBN | : 1118993748 |
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An in-depth, enlightening look at the integrated reporting movement The Integrated Reporting Movement explores the meaning of the concept, explains the forces that provide momentum to the associated movement, and examines the motives of the actors involved. The book posits integrated reporting as a key mechanism by which companies can ensure their own long-term sustainability by contributing to a sustainable society. Although integrated reporting has seen substantial development due to the support of companies, investors, and the initiatives of a number of NGOs, widespread regulatory intervention has yet to materialize. Outside of South Africa, adoption remains voluntary, accomplished via social movement abetted, to varying degrees, by market forces. In considering integrated reporting’s current state of play, the authors provide guidance to ensure wider adoption of the practice and success of the movement, starting with how companies can improve their own reporting processes. But the support of investors, regulators, and NGOs is also important. All will benefit, as will society as a whole. Readers will learn how integrated reporting has evolved over the years, where frameworks and standards are today, and the practices that help ensure effective implementation—including, but not limited to an extensive discussion of information technology’s role in reporting and the importance of corporate reporting websites. The authors introduce the concepts of an annual board of directors' "Statement of Significant Audiences and Materiality" and a "Sustainable Value Matrix" tool that translates the statement into management decisions. The book argues that the appropriate combination of market and regulatory forces to speed adoption will vary by country, concluding with four specific recommendations about what must be done to accelerate high quality adoption of integrated reporting around the world.
Values at Work
| Author | : Daniel C. Esty |
| Publisher | : Springer Nature |
| Total Pages | : 246 |
| Release | : 2020-10-26 |
| Genre | : Business & Economics |
| ISBN | : 3030556131 |
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Sustainable investing is a rapidly growing and evolving field. With investors expressing ever greater interest in environmental, social, and governance (ESG) metrics and reporting, companies face a sustainability imperative and the need to remake their business models to respond to an array of pressing issues including climate change, air and water pollution, racial justice, workplace diversity, economic inequality, privacy, corporate integrity, and good governance. From equities to fixed income and from private equity to impact-investing, investors of all kinds now want to understand which companies will be marketplace leaders in a business future redefined by sustainability. Thus, investment strategies, risk models, financial vehicles, applications, data, metrics, standards, and regulations are all changing rapidly around the world. In an effort to better understand the current status and movement of this dynamic field and to provide a practical reference for the growing pool of investors, financial advisors, companies, and academics seeking information on sustainable investing and ESG reporting, this edited book covers the latest trends, tools, and thinking. It showcases the work of authors from leading companies and academic institutions across a range of vital topics such as financial disclosure, portfolio assessment, ESG metrics construction, and law as well as regulation. Readers of the book will be better able to identify and address the hurdles to moving mainstream capital toward more sustainable companies, investments, and projects.
The Reasonable Investor and Climate-Related Information
| Author | : Hana Vizcarra |
| Publisher | : |
| Total Pages | : 9 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
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In recent years, the drumbeat for more expansive climate-related corporate disclosures has grown louder and more consistent within a broader swath of the financial community. This intensifying call argues for considering more climate-related information legally material under existing U.S. securities disclosure law. A key component of materiality as defined in U.S. securities law -- who is a “reasonable investor” -- is evolving when it comes to climate-related information. This evolution may soon impact what climate-related information courts consider material. Uunderstanding how courts may treat such information under the existing securities law framework is crucial to achieving more expansive disclosures. This Comment attempts to contribute to that conversation by surveying current trends that may influence courts' analyses of the materiality of climate-related topics.
World Scientific Encyclopedia Of Climate Change: Case Studies Of Climate Risk, Action, And Opportunity (In 3 Volumes)
| Author | : Jan W Dash |
| Publisher | : World Scientific |
| Total Pages | : 1105 |
| Release | : 2021-03-18 |
| Genre | : Science |
| ISBN | : 9811213933 |
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The Climate Change Encyclopedia responds to the outstanding risk, survival, and ethical issue of our time, requiring action and providing opportunity. Primary-source expert authors write in a unique case-study structure that enables the Encyclopedia to be approachable, informational, and motivational for the public. The key focus areas are Climate Change and Finance, Economics, and Policy, with many other related climate categories included. The over 100 case studies provide realistic and interesting views of climate change, based on authors' published papers, reports, and books, plus climate-related activities of organizations, and selected topics. This inspiring work can enhance optimism and courage to act urgently and persistently on climate change, with foresight for a livable future.For more information on the list of contributors, please refer to https://www.worldscientific.com/page/encyclopedia-of-climate-change.Related Link(s)
The Materiality of Climate Risk
| Author | : Amir Amel-Zadeh |
| Publisher | : |
| Total Pages | : 51 |
| Release | : 2019 |
| Genre | : |
| ISBN | : |
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This paper presents evidence from a global survey of nearly 700 investors and companies on the materiality of climate risk for financial reporting. We argue that current disclosure regulation likely requires the disclosure of climate risk on the basis of materiality considerations based on three trends: Recent developments in climate change regulation, heightened litigation risk, and increasing investor awareness. Field evidence shows that the majority of investors believe climate risk to be financially material and to represent heightened regulatory and litigation risk. We find a misalignment of the risk perception of investors compared with companies with potential consequences for the usefulness of climate-related disclosures. Far fewer companies believe that they are exposed to climate risks and consequently do not make any disclosures about it. Investors state difficulties with identifying and quantifying risks due to the lack of disclosures as the main challenge in assessing the impact of climate change.
Attestation Engagements on Sustainability Information (Including Greenhouse Gas Emissions Information)
| Author | : AICPA |
| Publisher | : John Wiley & Sons |
| Total Pages | : 208 |
| Release | : 2017-09-25 |
| Genre | : Business & Economics |
| ISBN | : 1945498625 |
Download Attestation Engagements on Sustainability Information (Including Greenhouse Gas Emissions Information) Book in PDF, ePub and Kindle
New Authoritative Guide for SSAE No. 18 and Sustainability Organizations are increasingly seeking to add credibility to sustainability information: According to the CFA Institute, 73 percent of portfolio managers and research analysts surveyed take sustainability matters into account when making investment decisions and 69 percent believe it is important that such information be subject to independent assurance. This new guide will assist CPAs with interpreting and applying the clarified attestation standards (SSAE No. 18) when performing examination or review engagements on sustainability information. Note: This guide supersedes AICPA Statement of Position (SOP) 13-1, Attest Engagements on Greenhouse Gas Emissions Information. The content of that SOP has been updated for the clarified attestations standards and included in the guide.
ESG and Responsible Institutional Investing Around the World: A Critical Review
| Author | : Pedro Matos |
| Publisher | : CFA Institute Research Foundation |
| Total Pages | : 80 |
| Release | : 2020-05-29 |
| Genre | : Business & Economics |
| ISBN | : 1944960988 |
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This survey examines the vibrant academic literature on environmental, social, and governance (ESG) investing. While there is no consensus on the exact list of ESG issues, responsible investors increasingly assess stocks in their portfolios based on nonfinancial data on environmental impact (e.g., carbon emissions), social impact (e.g., employee satisfaction), and governance attributes (e.g., board structure). The objective is to reduce exposure to investments that pose greater ESG risks or to influence companies to become more sustainable. One active area of research at present involves assessing portfolio risk exposure to climate change. This literature review focuses on institutional investors, which have grown in importance such that they have now become the largest holders of shares in public companies globally. Historically, institutional investors tended to concentrate their ESG efforts mostly on corporate governance (the “G” in ESG). These efforts included seeking to eliminate provisions that restrict shareholder rights and enhance managerial power, such as staggered boards, supermajority rules, golden parachutes, and poison pills. Highlights from this section: · There is no consensus on the exact list of ESG issues and their materiality. · The ESG issue that gets the most attention from institutional investors is climate change, in particular their portfolio companies’ exposure to carbon risk and “stranded assets.” · Investors should be positioning themselves for increased regulation, with the regulatory agenda being more ambitious in the European Union than in the United States. Readers might come away from this survey skeptical about the potential for ESG investing to affect positive change. I prefer to characterize the current state of the literature as having a “healthy dose of skepticism,” with much more remaining to be explored. Here, I hope the reader comes away with a call to action. For the industry practitioner, I believe that the investment industry should strive to achieve positive societal goals. CFA Institute provides an exemplary case in its Future of Finance series (www.cfainstitute.org/research/future-finance). For the academic community, I suggest we ramp up research aimed at tackling some of the open questions around the pressing societal goals of ESG investing. I am optimistic that practitioners and academics will identify meaningful ways to better harness the power of global financial markets for addressing the pressing ESG issues facing our society.
