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Post by account_disabled on Mar 2, 2024 21:40:50 GMT -6
Signatories reporting with a high emphasis on climate change between and However, three years since the TCFD recommendations were released, financial services still lag behind other sectors: The percentage of nonfinancial services putting a high emphasis on climate change reporting rose from percent to percent in the same time period. Only a matter of time The evolution of accountability shows it is only a matter of time before the TCFD recommendations are integrated into mandatory regulations. As such, being ahead of the curve will help mitigate any backlash. The EU Nonfinancial Directive is a good example: It started as a voluntary initiative, then took the form of a BTC Number Data mandatory regulation in The world has seen a number of mainstream industry associations urge business to take action to manage environmental, social and governance risks and opportunities. In the last year alone, organizations such as the TCFD, the World Federation of Exchanges and the. World Economic Forum, and joint work by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the World Business Council for Sustainable Development (WBCSD) have published their recommendations on how they expect companies to manage nonfinancial risks. The green pipeline At the recent Association of Chartered Certified Accountants (ACCA) event, "Empowering Businesses To Engage with Sustainable Finance and the SDGs," Rhian-Mari Thomas, managing director and chair of the Barclays Green Banking Council, commented that the pipeline for green finance was large and mostly unexplored.
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