This paper provides a stress-test template for financial supervisors to simulate potential losses on banks’
and insurers’ balance sheets under 6 different COVID-19 pandemic scenarios over the next 36 months.
It develops the nature of these scenarios and provides loss estimates that can be used as inputs to analysis
of banks’ and insurers’ balance sheets. While valuation losses and credit spreads have already moved
dramatically in the past month, this paper is not designed to recalculate what is already modelled but
rather provide a toolkit for financial supervisors and institutions to scenario plan the next 36 months.
Dairy Cattle’s Ecological Footprint Material to Investors as US and EU Policies Adjust
Company pay practice doesn’t yet live up to climate ambition, with the gap between stated ambition and demonstrable action widening.The energy transition is a challenge to the traditional business model of the oil and gas industry, and companies are increasingly exposed to transition-related financial risks.Over the past few years a number of new corporate ambitions have been announced relating to carbon emissions reductions, however, there have been only minor, incremental changes in terms of remuneration policy.
Canada’s oil sands have been a source of energy, good employment, and economic profit
for decades. Oil sands mining operations, however, have also been a source of massive
amounts of fluid wastes, currently contained in tailings ponds located in northern Alberta.
Corporate transparency has evolved and
progressed considerably in the last three
decades. Public expectations of the private
sector have shifted also, with greater
emphasis being placed on corporate purpose
beyond profit.
For the world’s poorest people, the
climate crisis is a water crisis that
they are living with now.
In May 2019, the Climate Disclosure Standards Board (CDSB)
and the Sustainability Accounting Standards Board (SASB)
published the TCFD Implementation Guide: Using the SASB
Standards and CDSB Framework to Enhance Climate-Related
Financial Disclosures in Mainstream Reporting. By offering
how-to guidance, the TCFD Implementation Guide aims
to help companies enhance the robustness, consistency,
comparability, and utility of TCFD implementation and
reporting through use of CDSB and SASB’s market-tested
frameworks, standards and resources.
This review assembled evidence of reporting
practices on environmental matters in the
first year of reporting under the EU NonFinancial Reporting Directive (NFRD).
The review further explored opportunities
for incorporating relevant aspects of the
Task Force on Climate-related Financial
Disclosures, (TCFD) recommendations into
the NFRD and associated guidance so that
reporting practices that serve both sets of
requirements are consolidated. Both the NFRD
and TCFD recommendations ofer authoritative
requirements on environmental and climaterelated reporting through the mainstream
financial report. The Commission is undertaking
a fitness check of the corporate reporting
framework in Europe, with findings expected
in summer 2019. This review should also inform
the new Parliament and Commission as they
set priorities for 2020 and beyond.
Crises in the natural world have reached a critical level. Inaction now threatens the very existence
of human society: the IPCC warns that averting the most serious consequences of climate change
requires a radical overhaul of the global economy
, while the OECD argues biodiversity loss is among
the top global risks to society
. The intersection between these crises deepens their breakdown:
deforestation is the second largest source of anthropogenic greenhouse gas emissions. Meanwhile,
growing inequality, the changing nature of work, and continued human rights violations are just some
of the major risks facing global society and the financial sector that supports it.
Are the world's investors aware of ocean-related risks to their portfolios? Are they acting on the opportunities provided by this emerging investment topic?