Jul 18, 2020 | Climate risk management
The state structures responsible for regulating corporate relations, the banking and insurance market, and the financial stability of the Russian Federation have prepared a report on the impact of climate risks on the country’s financial sector and its sustainable development.
The report is mainly devoted to climate risks: definitions, types, and impacts on financial institutions in the banking and insurance sectors. It details the tools of climate risk management based on the experience of world insurers, foreign states and companies; a perception of Russian banking regulation of climate risks is being formed. The Climate Change Financial Disclosure Requirements, developed by the Climate Finance Disclosure Working Group (TCFD), are also mentioned.
Jul 18, 2020 | Climate risk management
Employees of the Skolkovo Moscow School of Management prepared a report on possible steps Russia could take to catch up with world leaders in the fight against climate change.
The research also highlights factors that affect climate change, as well as associated risks and global threats. The report revealed ways to influence the current environmental situation and methods of combating climate change for political groups, social movements, energy companies, businesses, and investors.
Jul 18, 2020 | Reporting and disclosure
In pursuit of the global zero-emissions target for 2050, the CDP has prepared a temperature rating in order to avoid the worst effects of climate change.
The Rating Information Database, which is up-to-date and transparent, covers 4,000 companies, providing detailed analysis of their environmental goals and greenhouse gas emissions data.
Rating data allows users to perform a forward-looking assessment of the corporate risks associated with climate change.
Jul 18, 2020 | Reporting and disclosure
The Climate Finance Disclosure Working Group (TCFD) produced the 2019 Status Report in June 2019.
Inspired by the IPCC report that was published around the same time, the Status Report lists the “necessary urgent and unprecedented changes to achieve the objectives of the Paris Agreement.” The Working Group prepared this report to review the current disclosure practices in terms of TCFD recommendations, highlight the main challenges associated with implementing them, and summarize some of the efforts that the TCFD will be considering in the coming months.
For the report, more than 1,000 large companies in various sectors and regions analysed their own reports over a three-year period. The TCFD also investigated companies’ efforts to implement TCFD recommendations and examined users’ views on the usefulness of climate-related financial information for decision-making.
Jul 18, 2020 | Reporting and disclosure
The Climate Finance Disclosure Working Group (TCFD) published its “Final Report: Recommendations of the Climate-Related Financial Disclosure Task Force” in June 2017.
The TCFD believes that given the current environmental crisis, incorporating climate-related issues into key annual financial documents, practices will allow companies to evolve faster. The Group provides organizations with a framework for better climate-related financial disclosure that can be incorporated into their current reporting practices. In its annual report, the TCFD examines climate risks, opportunities and financial impacts, analyzes climate-related issues, navigates environmental solutions, and identifies key issues and areas for further consideration.
