The UK Government recently decided to ensure that larger companies report climate risk and will mandate climate risk disclosure in the next 5-years.“We’re announcing the UK’s intention to mandate climate disclosures by large companies and financial institutions across our economy, by 2025, going further than recommended by the Task Force on Climate-related Financial Disclosures, and the first G20 country to do so,” said the Chancellor recently. Indeed, with a Democrat in the White house next year, all things climate-related will likely have more backing from the bureaucrats to join the activism seen on the part of billionaires and investor groups. But what is climate risk? I spent some time googling on that term this morning and rather cynically I suppose, the big consulting firms certainly seem to know and are ready with their white papers and service offerings already. Frankly, I couldn’t find much that helped me to understand exactly what climate risk is in detail. In the end based on my research, I believe climate risks have two aspects and I’m open to being educated if anyone wants to brief me? The first is around disclosing the carbon footprint around your operations and assets. This can then impact financially in… continue reading
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