The Financial Stability Board (FSB) announced today it is establishing an industry-led disclosure task force on climate-related financial risks under the chairmanship of Michael R. Bloomberg. The Task Force on Climate-related Financial Disclosures (TCFD) will develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders.
…Simon Howard, Chief Executive of the UK Sustainable and Investment Finance Association (UKSIF), said: “This is excellent news. The financial risks in climate change are becoming obvious. Better disclosure and consistent data will not only help investors prepare for the significant challenges ahead but will play a part in identifying the profitable mitigation opportunities which will emerge.”
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