Across Wednesday 16 October and Thursday 17 October 2019, the McGuinness Institute partnered with Simpson Grierson to host two workshops exploring the Recommendations of the TCFD in Auckland and Wellington. This presentation was given by Michael Zimonyi from the Climate Disclosure Standards Board (CDSB), who came over from Germany to lead the workshops.
Created by the Climate Disclosure Standards Board (CDSB) and the Sustainability Accounting Standards Board (SASB), the TCFD Good Practice Handbook offers real-world examples of TCFD aligned disclosures in mainstream reports across many G20 countries. Striking a balance between financial and non-financial sectors, the Handbook helps you understand how organisations in your industry are implementing the TCFD recommendations and provide insight into good practice techniques to enhance your own climate-related financial disclosures.
The document discusses emerging issues around environmental, social, and governance (ESG) reporting and standards. It provides an overview of key frameworks for ESG reporting like the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), and Global Reporting Initiative (GRI). It also outlines recent developments that aim to establish a comprehensive global system for ESG reporting, including the International Sustainability Standards Board (ISSB) and European Union's Corporate Sustainability Reporting Directive. The accounting profession has an important role to play in the implementation of ESG standards and providing assurance on ESG reports.
Analysis of ESRS draft metrics & disclosures published Nov 23rd 2022.
Part of CSRD and delivered by EFRAG incorporating TCFD IFRS and EU requirements
650+ pages summarised to the 123 metrics & disclosures required under the ESRS draft. Becoming law under the EU taxonomy in 2024
The document summarizes the G4 Guidelines for sustainability reporting published by the Global Reporting Initiative (GRI). Key points include:
- G4 builds on the previous G3.1 Guidelines and aims to make reporting more user-friendly, technically sound, and focused on material topics.
- G4 emphasizes selecting material topics and boundaries, and reporting on impacts that matter most to the organization and stakeholders.
- G4 presents guidance in two parts and includes new and revised disclosures on topics like ethics, governance, supply chain management and greenhouse gas emissions.
- GRI recommends organizations use G4 for sustainability reporting after December 2015 to promote a global standard for reporting.
Environmental, Social and Governance (ESG) investing is bringing a new lens to the world of traditional investment management. ESG is increasingly becoming a key decision criterion within the institutional and retail channels as investors seek to ensure that their investments align with their values. In this webinar, we will provide a unique understanding of distribution trends driven by ESG criteria vital to product development and sales strategies for Asset Managers.
Broadridge has partnered with MSCI ESG Research to provide Asset Managers with access to ESG factors for funds. On this webinar, we will provide a detailed overview of ESG investment trends as well as present an overview of a unique set of data that provides ESG transparency on more than 27,000 funds.
This document provides a toolkit for fund managers on integrating environmental, social, and governance (ESG) considerations into their investment processes. It discusses the business case for ESG analysis, including growing stakeholder expectations, regulatory trends, consumer demand for sustainable products, and evidence that ESG programs can improve financial performance and shareholder value. The toolkit is intended to help fund managers implement the British development finance institution CDC's investment code on ESG matters. It provides guidance on international ESG standards and tools to assess and manage ESG risks and opportunities at various stages of the investment process.
The document summarizes key findings from the 2019 Status Report of the Task Force on Climate-related Financial Disclosures (TCFD). It finds that while disclosure of climate-related financial information has increased, it remains insufficient and partial. More progress is needed to provide clear information on the potential financial impacts of climate change on companies. The report highlights challenges to implementation like lack of standardized metrics and calls for accelerated progress in climate risk reporting. It commits to further clarifying guidance and developing scenario analysis tools to support mainstreaming of climate-related financial disclosures.
Environmental and Social Due Diligence ESG AssessmentsRSM GC
RSM GC Advisory Services is a leading provider of sustainability and ESG services, having completed over 500 projects globally. They offer a range of services including ESG assessments, sustainability reporting and certifications, carbon credit projects, energy audits and advisory. Their team has extensive experience across sectors and geographies. Implementing sound ESG practices provides benefits such as cost savings, risk management, and improved access to capital and markets. RSM GC aims to help clients adopt sustainable business strategies and manage ESG risks and opportunities.
Created by the Climate Disclosure Standards Board (CDSB) and the Sustainability Accounting Standards Board (SASB), the TCFD Good Practice Handbook offers real-world examples of TCFD aligned disclosures in mainstream reports across many G20 countries. Striking a balance between financial and non-financial sectors, the Handbook helps you understand how organisations in your industry are implementing the TCFD recommendations and provide insight into good practice techniques to enhance your own climate-related financial disclosures.
The document discusses emerging issues around environmental, social, and governance (ESG) reporting and standards. It provides an overview of key frameworks for ESG reporting like the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), and Global Reporting Initiative (GRI). It also outlines recent developments that aim to establish a comprehensive global system for ESG reporting, including the International Sustainability Standards Board (ISSB) and European Union's Corporate Sustainability Reporting Directive. The accounting profession has an important role to play in the implementation of ESG standards and providing assurance on ESG reports.
Analysis of ESRS draft metrics & disclosures published Nov 23rd 2022.
Part of CSRD and delivered by EFRAG incorporating TCFD IFRS and EU requirements
650+ pages summarised to the 123 metrics & disclosures required under the ESRS draft. Becoming law under the EU taxonomy in 2024
The document summarizes the G4 Guidelines for sustainability reporting published by the Global Reporting Initiative (GRI). Key points include:
- G4 builds on the previous G3.1 Guidelines and aims to make reporting more user-friendly, technically sound, and focused on material topics.
- G4 emphasizes selecting material topics and boundaries, and reporting on impacts that matter most to the organization and stakeholders.
- G4 presents guidance in two parts and includes new and revised disclosures on topics like ethics, governance, supply chain management and greenhouse gas emissions.
- GRI recommends organizations use G4 for sustainability reporting after December 2015 to promote a global standard for reporting.
Environmental, Social and Governance (ESG) investing is bringing a new lens to the world of traditional investment management. ESG is increasingly becoming a key decision criterion within the institutional and retail channels as investors seek to ensure that their investments align with their values. In this webinar, we will provide a unique understanding of distribution trends driven by ESG criteria vital to product development and sales strategies for Asset Managers.
Broadridge has partnered with MSCI ESG Research to provide Asset Managers with access to ESG factors for funds. On this webinar, we will provide a detailed overview of ESG investment trends as well as present an overview of a unique set of data that provides ESG transparency on more than 27,000 funds.
This document provides a toolkit for fund managers on integrating environmental, social, and governance (ESG) considerations into their investment processes. It discusses the business case for ESG analysis, including growing stakeholder expectations, regulatory trends, consumer demand for sustainable products, and evidence that ESG programs can improve financial performance and shareholder value. The toolkit is intended to help fund managers implement the British development finance institution CDC's investment code on ESG matters. It provides guidance on international ESG standards and tools to assess and manage ESG risks and opportunities at various stages of the investment process.
The document summarizes key findings from the 2019 Status Report of the Task Force on Climate-related Financial Disclosures (TCFD). It finds that while disclosure of climate-related financial information has increased, it remains insufficient and partial. More progress is needed to provide clear information on the potential financial impacts of climate change on companies. The report highlights challenges to implementation like lack of standardized metrics and calls for accelerated progress in climate risk reporting. It commits to further clarifying guidance and developing scenario analysis tools to support mainstreaming of climate-related financial disclosures.
Environmental and Social Due Diligence ESG AssessmentsRSM GC
RSM GC Advisory Services is a leading provider of sustainability and ESG services, having completed over 500 projects globally. They offer a range of services including ESG assessments, sustainability reporting and certifications, carbon credit projects, energy audits and advisory. Their team has extensive experience across sectors and geographies. Implementing sound ESG practices provides benefits such as cost savings, risk management, and improved access to capital and markets. RSM GC aims to help clients adopt sustainable business strategies and manage ESG risks and opportunities.
- There are various approaches to ESG investing including screening/divestment from religious or ethical perspectives, engagement and shareholder activism, portfolio optimization incorporating ESG factors, and impact investing where social/environmental impacts are a primary goal alongside financial returns.
- Early ESG efforts focused on screening out "sin stocks" like weapons, tobacco, etc. based on ethical values rather than returns. Recent approaches integrate ESG data into portfolio construction and company engagement/activism to improve risk-adjusted returns.
- Successful ESG engagement requires substantial assets, a track record, targeting large underperforming companies, and addressing governance, social, and environmental issues. Collaboration generally has higher success rates than confrontation.
ESG and Compliance: Where do we go from here?Nimonik
Environment, Social and Governance (ESG) issues are taking on more and more presence in the corporation's planning and strategy. This presentation discusses emerging trends, potential paths forward and challenges with staying in compliance to the myriad of ESG standards and requirements.
NL:
ESG Routekaart.
De dwingende uitdaging waarvoor wij staan op het gebied van milieu is, om met zijn allen de beweging in gang te zetten om de gemiddelde opwarming van de aarde tot 1,5 graden te beperken. Sommige belanghebbenden, gouvernementele organisaties en banken, vragen regelmatig om verbetering en het aanscherpen van de Europese wetgeving met betrekking tot het klimaat. De EU zou tegen 2050 een totale reductie van de binnenlandse emissies van 80% moeten realiseren. Door een eenduidig stappenplan te borgen, is een concrete stap naar verduurzamen. Denk daarbij aan de interne- en externe belanghebbenden te betrekken voor de implementatie van initiatieven om CO2-emissies te verminderen, of een stap verder zou zijn, om de emissies te compenseren. De Routekaart beschrijft aan de hand van analyses, en sector specifieke KPI’s, modellen hoe dit beleid goed zou kunnen worden geborgd in een Environmental Socio-Economic Governance beleid. De Routekaart biedt op de lange termijn een kosten efficiënt pad naar een schonere, klimaatvriendelijke bedrijf.
Short biography of the presenter; Ginio Franker, September 1966, Suriname.
Position Learning and Development NLP-trainer & Transpersoonlijke coach + Climate Leader trained by Al Gore. "A Moral Call to Climate Change" + "Environmental Justice".
Website www.greandream.com.
EN:
ESG-ROADMAP
With the effects of climate change already upon us, the need to cut global greenhouse gas emissions is nothing less than urgent. It’s a daunting challenge, but the technologies and strategies to meet it exist today. A small set of ESG policies, designed and implemented well, can put us on the path to a low carbon future. ESG Key Performance Indicators are complex, so they must be sector specific, focused and cost-effective. One-size-fits-all approaches simply won’t get the job done. Sustainability managers need a clear, comprehensive resource that outlines the ESG policies that will have the biggest impact on our climate future, and describes how to implement these policies well within their own organisations.
We don’t need to wait for new technologies or strategies to create a low carbon future—and we can’t afford to. ESG-ROADMAP gives professionals the tools they need to select, design, and implement the policies that can put us on the path to a livable climate future.
The Environmental Social Governance challenges e.g: on regulatory and reputational risks, market scandals and new market opportunities makes ESG information a data source of growing importance. With ESG in company seminars, round table discussions, scholarships and online association programs, we leave no one behind. Sign up today. Zentrepreneur Environmental Social Governance Associates Training. (ZESGA).
contact@esgwatch.eu
+32485773608 BE
+31630092220 NL
This document provides information about RSM GC Advisory Services Pvt. Ltd., a sustainability consulting firm. It discusses the company's leadership in sustainability services across multiple sectors and geographies in India, Southeast Asia, and Africa. The document outlines the company's approach to sustainability which involves an initial diagnostic study, developing sustainability strategies and policies, setting targets and KPIs, implementing performance management systems, and preparing sustainability reports. It provides an overview of the company's service offerings and team of experts who have extensive experience in areas like emissions reduction projects, policy formulation, and delivering value to clients in the energy, infrastructure, mining, and other sectors.
Enterprise Risk Management and SustainabilityJeff B
An overview of our endeavors at implementing ISO 31000 enterprise risk management and the importance of establishing good risk culture within the company.
The deck sets the scene by introducing the current sustainability context, the Global Reporting Initiative's (GRI- https://www.globalreporting.org/Pages/default.aspx) role in providing metrics for measuring and communicating on sustainability performance and impacts. With numerous reporting requirements out there for organizations to comply with, the deck also explains GRI's collaborative efforts in aligning with other Frameworks.
The presentation was made during the April 2013 'CSR and Sustainability in extractive and energy industries. UK global expertise' week in London. The audience was comprised of representatives from the Oil and Gas and Mining sectors, from Russia and Kazakhstan, who were relatively new to sustainability reporting. The deck puts forward the business case for reporting on sustainability performance and impacts, and includes brief sector-specific information on sustainability reporting trends in those two sectors.
Besides providing a framework for organizations to use, GRI also offer support and guidance - what this means exactly is clarified in the deck.
January 2024. Green Aviation, also called sustainable aviation, is the pursuit of decarbonizing the aviation industry, making it more environmentally sustainable. It includes green technologies to improve aircraft fuel efficiency and engineering processes to lower carbon emissions and reach net zero worldwide.
Green aviation offers numerous benefits, including reduced pollution, lower carbon emissions, climate change mitigation, cleaner air, health improvements, job creation, and economic growth.
Sustainable Aviation Fuel (SAF) is a liquid fuel used in commercial aviation. SAF use reduces carbon emissions by 80% and can be produced from various sources such as waste oil, food waste, and farming crops.
Green Airport certification is a program for airports demonstrating environmental sustainability. It measures performance in energy efficiency, water consumption, waste management, and air quality. The program was developed by the Airports Council International (ACI).
Policy wise, in 2021, during the Conference of the Parties (COP26), the international aviation climate ambition coalition was launched to unite efforts in decarbonizing the aviation industry via the International Civil Aviation Organization (ICAO) and SDG development supporting Sustainable Aviation Fuel (SAF) deployment and aligning with the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Green aviation directly supports Sustainable Development Goal SDG11 Target 11.2: Provide access to safe, affordable, accessible, and sustainable transport systems.
In this slideshow, you will learn about the definition, benefits, UN policy, global statistics, and outlook of green aviation. For more slideshows on environmental sustainability, please visit s2adesign.com
The document provides an overview of sustainability reporting and ESG reporting. It discusses key concepts like scope 1, 2, and 3 emissions reporting and standards like IFRS, FASB, and SASB. It also outlines initial steps organizations can take to implement sustainability and ESG reporting, including developing a data strategy, identifying data sources, and establishing reporting cycles and metrics. Sample software vendors for ESG compliance and reporting are also listed.
How future-ready is your IT –Next Gen Tech Function.pdfYiannis Paraschos
The document discusses how companies can transform their IT functions into next generation tech functions that are future-ready. It outlines key tech impacts over the next ten years like cloud computing and data analytics. It also discusses common questions clients ask about digital skills, tech organization, and cybersecurity. The document recommends five characteristics companies should focus on: effective governance, world-class capabilities, agile working, modern platforms, and digital products/services. It describes how next gen tech functions can create value through metrics like customer satisfaction, IT cost reduction, and accelerated delivery. The document proposes conducting an assessment of a company's IT function across these areas to evaluate future-readiness.
This document summarizes a webinar on powering ESG ambitions through data. It discusses how ESG reporting is challenging due to different standards and data sources, but that a targeted data strategy can help. It recommends starting with cataloging ESG data, selecting key stakeholder dimensions, targeting a maturity level, building a data sandbox, and creating a community of practice to embark on an ESG journey through data. The webinar emphasizes that ESG is both urgent and important given regulatory demands, consumer expectations, and how financial markets are increasingly considering ESG metrics.
ESG and sustainability investing has become a major trend in the financial industry. Over $35 trillion is now invested according to sustainable investing strategies, representing one third of total assets under management globally. Major asset managers like BlackRock and banks like Nordea are increasingly integrating ESG factors into their investment decisions and excluding companies deemed unsustainable. Regulators are also supporting this shift through new rules requiring companies to report on their sustainability impacts and human rights due diligence practices.
ESRS_first set of draft European Sustainability Reporting Standards.pdfMarianna Sorrente
In April 2021, the European Commission adopted a legislative proposal for a Corporate Sustainability Reporting Directive (CSRD) that requires companies within the scope to report using double materiality perspective in compliance with European Sustainability Reporting Standards (ESRS) adopted by the European Commission as delegated acts. Under the proposed CSRD, EFRAG was appointed technical adviser to the European Commission developing draft ESRS. On 23rd of November 2022, EFRAG delivers the first set of draft ESRS to the European Commission.
Institutional investors are increasingly adopting ESG investing on a global scale. A survey of over 500 institutional investors found that more than half now fully integrate ESG into their investment approach, up from 36% in 2019. Motivations for ESG investing include obtaining better risk-adjusted returns and risk management. However, concerns around "greenwashing" where companies only pay lip service to ESG issues remain high. The lack of clear evidence linking ESG performance to financial performance also poses a barrier to greater ESG adoption.
VERGE 22: How to Calculate Scope 3 EmissionsGreenBiz Group
This document provides an overview of calculating scope 3 greenhouse gas emissions. It begins with an agenda for a workshop on the topic, including introductions, foundational content, breakout discussions, and closing. Next, it discusses understanding emissions accounting and introduces the speaker, Simon Fischweicher from CDP. It then covers the importance of measuring scope 3 emissions and how they have evolved over time in disclosure. Methods for initially screening scope 3 categories for relevance and subsequently engaging suppliers to improve data quality are presented. The GHG Protocol calculation methods from least to most specific are shown for upstream categories. Considerations for subsequent quantification focus on engaging suppliers to quantify, report, set targets, and identify reduction opportunities.
This document discusses sustainability reporting and how companies decide which sustainability initiatives to pursue. It provides insight into how companies gather, assess, and disseminate information about their socially responsible activities. Specifically, it outlines the benefits of sustainability reporting, how to embed sustainability in organizations, identifying material sustainability matters, managing these matters, and communicating performance through reporting.
The Global Reporting Initiative (GRI) provides sustainability reporting guidelines that are voluntarily adopted by organizations worldwide. The number of organizations publishing GRI-based reports has grown significantly since 1999. The G3 Guidelines, released in 2006, feature streamlined performance indicators and disclosures to improve comparability across reports. The GRI framework includes sector supplements and national annexes to address specific reporting needs. Organizations are encouraged to use the GRI Guidelines and provide feedback to help further develop the reporting standards.
The document provides guidance for companies listed on Nasdaq Nordic exchanges on reporting environmental, social and governance (ESG) metrics. It recommends a set of 11 ESG metrics that are most material for investors based on their prevalence in reporting frameworks, potential to impact company performance, and practicality for companies to report. The suggested metrics cover topics like greenhouse gas emissions, energy use, water and waste management, diversity and pay equity, and business ethics. Companies are encouraged to publicly report on these metrics and engage with stakeholders to improve access to capital, profitability, risk management and reputation. Overall the guidance aims to help companies meet growing investor demand for ESG data and contribute to sustainable development.
A tour of the global ESG standards landscape, 100 days out from COP26, explaining how Inline XBRL, a building block approach to international standards consistency, and independent review of coming mandatory ESG disclosures will change reporting. Presented to the Taiwan Stock Exchange 21 July 2021.
The enterprise software industry is being transformed by substantial investor capital, Cloud 2.0, artificial intelligence, data protection, preferred platforms, and a talent shortage, leading stakeholders of all kinds to make big changes, and big choices.
- There are various approaches to ESG investing including screening/divestment from religious or ethical perspectives, engagement and shareholder activism, portfolio optimization incorporating ESG factors, and impact investing where social/environmental impacts are a primary goal alongside financial returns.
- Early ESG efforts focused on screening out "sin stocks" like weapons, tobacco, etc. based on ethical values rather than returns. Recent approaches integrate ESG data into portfolio construction and company engagement/activism to improve risk-adjusted returns.
- Successful ESG engagement requires substantial assets, a track record, targeting large underperforming companies, and addressing governance, social, and environmental issues. Collaboration generally has higher success rates than confrontation.
ESG and Compliance: Where do we go from here?Nimonik
Environment, Social and Governance (ESG) issues are taking on more and more presence in the corporation's planning and strategy. This presentation discusses emerging trends, potential paths forward and challenges with staying in compliance to the myriad of ESG standards and requirements.
NL:
ESG Routekaart.
De dwingende uitdaging waarvoor wij staan op het gebied van milieu is, om met zijn allen de beweging in gang te zetten om de gemiddelde opwarming van de aarde tot 1,5 graden te beperken. Sommige belanghebbenden, gouvernementele organisaties en banken, vragen regelmatig om verbetering en het aanscherpen van de Europese wetgeving met betrekking tot het klimaat. De EU zou tegen 2050 een totale reductie van de binnenlandse emissies van 80% moeten realiseren. Door een eenduidig stappenplan te borgen, is een concrete stap naar verduurzamen. Denk daarbij aan de interne- en externe belanghebbenden te betrekken voor de implementatie van initiatieven om CO2-emissies te verminderen, of een stap verder zou zijn, om de emissies te compenseren. De Routekaart beschrijft aan de hand van analyses, en sector specifieke KPI’s, modellen hoe dit beleid goed zou kunnen worden geborgd in een Environmental Socio-Economic Governance beleid. De Routekaart biedt op de lange termijn een kosten efficiënt pad naar een schonere, klimaatvriendelijke bedrijf.
Short biography of the presenter; Ginio Franker, September 1966, Suriname.
Position Learning and Development NLP-trainer & Transpersoonlijke coach + Climate Leader trained by Al Gore. "A Moral Call to Climate Change" + "Environmental Justice".
Website www.greandream.com.
EN:
ESG-ROADMAP
With the effects of climate change already upon us, the need to cut global greenhouse gas emissions is nothing less than urgent. It’s a daunting challenge, but the technologies and strategies to meet it exist today. A small set of ESG policies, designed and implemented well, can put us on the path to a low carbon future. ESG Key Performance Indicators are complex, so they must be sector specific, focused and cost-effective. One-size-fits-all approaches simply won’t get the job done. Sustainability managers need a clear, comprehensive resource that outlines the ESG policies that will have the biggest impact on our climate future, and describes how to implement these policies well within their own organisations.
We don’t need to wait for new technologies or strategies to create a low carbon future—and we can’t afford to. ESG-ROADMAP gives professionals the tools they need to select, design, and implement the policies that can put us on the path to a livable climate future.
The Environmental Social Governance challenges e.g: on regulatory and reputational risks, market scandals and new market opportunities makes ESG information a data source of growing importance. With ESG in company seminars, round table discussions, scholarships and online association programs, we leave no one behind. Sign up today. Zentrepreneur Environmental Social Governance Associates Training. (ZESGA).
contact@esgwatch.eu
+32485773608 BE
+31630092220 NL
This document provides information about RSM GC Advisory Services Pvt. Ltd., a sustainability consulting firm. It discusses the company's leadership in sustainability services across multiple sectors and geographies in India, Southeast Asia, and Africa. The document outlines the company's approach to sustainability which involves an initial diagnostic study, developing sustainability strategies and policies, setting targets and KPIs, implementing performance management systems, and preparing sustainability reports. It provides an overview of the company's service offerings and team of experts who have extensive experience in areas like emissions reduction projects, policy formulation, and delivering value to clients in the energy, infrastructure, mining, and other sectors.
Enterprise Risk Management and SustainabilityJeff B
An overview of our endeavors at implementing ISO 31000 enterprise risk management and the importance of establishing good risk culture within the company.
The deck sets the scene by introducing the current sustainability context, the Global Reporting Initiative's (GRI- https://www.globalreporting.org/Pages/default.aspx) role in providing metrics for measuring and communicating on sustainability performance and impacts. With numerous reporting requirements out there for organizations to comply with, the deck also explains GRI's collaborative efforts in aligning with other Frameworks.
The presentation was made during the April 2013 'CSR and Sustainability in extractive and energy industries. UK global expertise' week in London. The audience was comprised of representatives from the Oil and Gas and Mining sectors, from Russia and Kazakhstan, who were relatively new to sustainability reporting. The deck puts forward the business case for reporting on sustainability performance and impacts, and includes brief sector-specific information on sustainability reporting trends in those two sectors.
Besides providing a framework for organizations to use, GRI also offer support and guidance - what this means exactly is clarified in the deck.
January 2024. Green Aviation, also called sustainable aviation, is the pursuit of decarbonizing the aviation industry, making it more environmentally sustainable. It includes green technologies to improve aircraft fuel efficiency and engineering processes to lower carbon emissions and reach net zero worldwide.
Green aviation offers numerous benefits, including reduced pollution, lower carbon emissions, climate change mitigation, cleaner air, health improvements, job creation, and economic growth.
Sustainable Aviation Fuel (SAF) is a liquid fuel used in commercial aviation. SAF use reduces carbon emissions by 80% and can be produced from various sources such as waste oil, food waste, and farming crops.
Green Airport certification is a program for airports demonstrating environmental sustainability. It measures performance in energy efficiency, water consumption, waste management, and air quality. The program was developed by the Airports Council International (ACI).
Policy wise, in 2021, during the Conference of the Parties (COP26), the international aviation climate ambition coalition was launched to unite efforts in decarbonizing the aviation industry via the International Civil Aviation Organization (ICAO) and SDG development supporting Sustainable Aviation Fuel (SAF) deployment and aligning with the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
Green aviation directly supports Sustainable Development Goal SDG11 Target 11.2: Provide access to safe, affordable, accessible, and sustainable transport systems.
In this slideshow, you will learn about the definition, benefits, UN policy, global statistics, and outlook of green aviation. For more slideshows on environmental sustainability, please visit s2adesign.com
The document provides an overview of sustainability reporting and ESG reporting. It discusses key concepts like scope 1, 2, and 3 emissions reporting and standards like IFRS, FASB, and SASB. It also outlines initial steps organizations can take to implement sustainability and ESG reporting, including developing a data strategy, identifying data sources, and establishing reporting cycles and metrics. Sample software vendors for ESG compliance and reporting are also listed.
How future-ready is your IT –Next Gen Tech Function.pdfYiannis Paraschos
The document discusses how companies can transform their IT functions into next generation tech functions that are future-ready. It outlines key tech impacts over the next ten years like cloud computing and data analytics. It also discusses common questions clients ask about digital skills, tech organization, and cybersecurity. The document recommends five characteristics companies should focus on: effective governance, world-class capabilities, agile working, modern platforms, and digital products/services. It describes how next gen tech functions can create value through metrics like customer satisfaction, IT cost reduction, and accelerated delivery. The document proposes conducting an assessment of a company's IT function across these areas to evaluate future-readiness.
This document summarizes a webinar on powering ESG ambitions through data. It discusses how ESG reporting is challenging due to different standards and data sources, but that a targeted data strategy can help. It recommends starting with cataloging ESG data, selecting key stakeholder dimensions, targeting a maturity level, building a data sandbox, and creating a community of practice to embark on an ESG journey through data. The webinar emphasizes that ESG is both urgent and important given regulatory demands, consumer expectations, and how financial markets are increasingly considering ESG metrics.
ESG and sustainability investing has become a major trend in the financial industry. Over $35 trillion is now invested according to sustainable investing strategies, representing one third of total assets under management globally. Major asset managers like BlackRock and banks like Nordea are increasingly integrating ESG factors into their investment decisions and excluding companies deemed unsustainable. Regulators are also supporting this shift through new rules requiring companies to report on their sustainability impacts and human rights due diligence practices.
ESRS_first set of draft European Sustainability Reporting Standards.pdfMarianna Sorrente
In April 2021, the European Commission adopted a legislative proposal for a Corporate Sustainability Reporting Directive (CSRD) that requires companies within the scope to report using double materiality perspective in compliance with European Sustainability Reporting Standards (ESRS) adopted by the European Commission as delegated acts. Under the proposed CSRD, EFRAG was appointed technical adviser to the European Commission developing draft ESRS. On 23rd of November 2022, EFRAG delivers the first set of draft ESRS to the European Commission.
Institutional investors are increasingly adopting ESG investing on a global scale. A survey of over 500 institutional investors found that more than half now fully integrate ESG into their investment approach, up from 36% in 2019. Motivations for ESG investing include obtaining better risk-adjusted returns and risk management. However, concerns around "greenwashing" where companies only pay lip service to ESG issues remain high. The lack of clear evidence linking ESG performance to financial performance also poses a barrier to greater ESG adoption.
VERGE 22: How to Calculate Scope 3 EmissionsGreenBiz Group
This document provides an overview of calculating scope 3 greenhouse gas emissions. It begins with an agenda for a workshop on the topic, including introductions, foundational content, breakout discussions, and closing. Next, it discusses understanding emissions accounting and introduces the speaker, Simon Fischweicher from CDP. It then covers the importance of measuring scope 3 emissions and how they have evolved over time in disclosure. Methods for initially screening scope 3 categories for relevance and subsequently engaging suppliers to improve data quality are presented. The GHG Protocol calculation methods from least to most specific are shown for upstream categories. Considerations for subsequent quantification focus on engaging suppliers to quantify, report, set targets, and identify reduction opportunities.
This document discusses sustainability reporting and how companies decide which sustainability initiatives to pursue. It provides insight into how companies gather, assess, and disseminate information about their socially responsible activities. Specifically, it outlines the benefits of sustainability reporting, how to embed sustainability in organizations, identifying material sustainability matters, managing these matters, and communicating performance through reporting.
The Global Reporting Initiative (GRI) provides sustainability reporting guidelines that are voluntarily adopted by organizations worldwide. The number of organizations publishing GRI-based reports has grown significantly since 1999. The G3 Guidelines, released in 2006, feature streamlined performance indicators and disclosures to improve comparability across reports. The GRI framework includes sector supplements and national annexes to address specific reporting needs. Organizations are encouraged to use the GRI Guidelines and provide feedback to help further develop the reporting standards.
The document provides guidance for companies listed on Nasdaq Nordic exchanges on reporting environmental, social and governance (ESG) metrics. It recommends a set of 11 ESG metrics that are most material for investors based on their prevalence in reporting frameworks, potential to impact company performance, and practicality for companies to report. The suggested metrics cover topics like greenhouse gas emissions, energy use, water and waste management, diversity and pay equity, and business ethics. Companies are encouraged to publicly report on these metrics and engage with stakeholders to improve access to capital, profitability, risk management and reputation. Overall the guidance aims to help companies meet growing investor demand for ESG data and contribute to sustainable development.
A tour of the global ESG standards landscape, 100 days out from COP26, explaining how Inline XBRL, a building block approach to international standards consistency, and independent review of coming mandatory ESG disclosures will change reporting. Presented to the Taiwan Stock Exchange 21 July 2021.
The enterprise software industry is being transformed by substantial investor capital, Cloud 2.0, artificial intelligence, data protection, preferred platforms, and a talent shortage, leading stakeholders of all kinds to make big changes, and big choices.
What You Need to Know: The EU Non-Financial Reporting Directive and what its ...CDSB
Speakers: Michael Zimonyi, Policy & External Affairs Director and Nontokozo Khumalo, Corporate Engagement Manager at CDSB.
The EU Non-Financial Reporting Directive (NFRD) came into effect in 2018 and requires listed companies and other public interest entities to disclose information on the way they operate and how they manage social and environmental challenges. In June 2019 the European Commission published guidelines on reporting climate-related information which included the integration of the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations. These guidelines supplement the existing Non-Financial Reporting Guidelines released in 2017.
The EU is now set to publish a fitness check of corporate reporting to assess the appropriateness of existing legislation, with a special focus on NFRD, giving way to a possibility of a reopening of the current regulation. In advance of these updates, there is a tremendous opportunity for companies to get ahead of the curve to ensure that they are complying with the EU reporting guidelines and prepared for potential new regulations.
During this webinar briefing, you’ll gain insight into:
Current requirements of the NFR Directive and Guidelines;
The state of corporate climate change reporting;
Potential impacts of a reopened NFR Directive and CDSB’s expectations going forward.
TCFD implementation webinar series - risk management with HSBCCDSB
The document is a transcript from a webinar on TCFD implementation. It discusses:
1) An introduction to the TCFD recommendations and why they were developed, focusing on the lack of consistent climate-related financial disclosures.
2) A status report on TCFD implementation by companies that found disclosure has increased but is still limited, and more clarity is needed on financial impacts.
3) HSBC's approach to TCFD disclosure including setting targets to finance sustainable activities and reduce emissions in its operations.
TCFD implementation webinar series - risk management with HSBC (PM)CDSB
Although some organisations have begun to apply traditional enterprise risk management (ERM) processes to the identification, assessment, and management of climate-related risks, the practice is not yet widespread or well developed. Lacking reliable information about how these risks are managed, investors are unable to properly evaluate the risk profile of an organisation or its securities. During this webinar, CDSB and HSBC offer insight into the key characteristics of effective risk management practices and what good practice disclosure looks like in line with the TCFD recommendations.
TCFD implementation webinar series - risk management with HSBCLesley McKenna
Although some organisations have begun to apply traditional enterprise risk management (ERM) processes to the identification, assessment, and management of climate-related risks, the practice is not yet widespread or well developed. Lacking reliable information about how these risks are managed, investors are unable to properly evaluate the risk profile of an organisation or its securities. Here CDSB and HSBC to offer insight into the key characteristics of effective risk management practices and what good practice disclosure looks like in line with the TCFD recommendations.
TCFD implementation webinar series - risk management with HSBC - AMCDSB
The document is a transcript from a webinar about implementing the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. It includes discussions on understanding the TCFD recommendations, what companies are currently doing with disclosure, tips for effective disclosure implementation, and a presentation from HSBC on how they are embedding sustainability into their strategy and disclosing climate-related financial risks. The webinar covered key elements of the TCFD framework like governance, strategy, risk management, and metrics and targets.
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This document summarizes a webinar on implementing the TCFD recommendations for climate-related financial disclosures. The webinar discusses metrics and targets, a core element of TCFD. It provides tips on disclosure including making qualitative and quantitative reports using existing standards and metrics. A representative from Danone discusses their process for implementing TCFD across strategic planning, operations, and finance to identify risks and opportunities and set targets.
Webinar slides: What does climate-related financial disclosure really look likeCDSB
This webinar helps you understand how to overcome common TCFD implementation challenges and discover practical guidance and examples of good practice for disclosing climate-related financial information.
Speakers:
Jane Thostrup Jagd, Lead Financial Consultation, Ørsted
Fiona Quinlan, Technical Manager, CDSB
The world of ESG reporting is moving faster than ever. The European Union is moving fast to update the Non-Financial Reporting Directive (NFRD) in 2021, the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) are reaching a critical mass and the often confusing group of reporting initiatives have committed to work together towards a comprehensive reporting landscape, with financial heavy-hitters such as the International Organization of Securities Commissions (IOSCO) and the International Accounting Standards Board (IASB) stepping into the game.
TCFD implementation webinar series - strategy with UnileverCDSB
Many organisations currently face impacts from climate-related issues, with important implications for businesses, strategy, and financial planning. Improved disclosures on current and anticipated risks and opportunities can enhance an investors’ understanding of how strategic functions are likely to be impacted over the short, medium, and long terms. This presentation by CDSB and Unilever offers insight into the principles for effective strategy disclosure and what good practice looks like. Visit www.cdsb.net for more information.
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To mark the launch of the building blocks guidance, this webinar focussed on trends in climate-related financial disclosure, key developments and how to use CDP disclosure and the CDSB Framework to satisfy the TCFD recommendations.
The building blocks for successful TCFD disclosure in conversation with Sue H...CDSB
To mark the launch of the building blocks guidance, this webinar focussed on trends in climate-related financial disclosure, key developments and how to use CDP disclosure and the CDSB Framework to satisfy the TCFD recommendations.
How the new EU guidelines on reporting climate related information will impac...CDSB
As part of its Sustainable Finance Action Plan, the European Commission published new guidelines in June for reporting climate-related information. These guidelines were designed to provide practical recommendations and help companies report the impact of climate change on their business as well as the impact of their activities on the climate. CDSB and CDP present will the new guidelines and what it means for corporate reporting practices moving forward.
Webinar slides: Are we headed towards mandatory climate reporting?CDSB
This webinar examines signals from Government and the finance community about the need for mandatory disclosure and potential pathways for inclusion of the TCFD recommendations into national legislation.
Breakfast briefing Task Force on Climate related Financial Disclosure.pdfRAHULKUMARSINGH317719
The Task Force on Climate-related Financial Disclosures (TCFD) was established by the Financial Stability Board to develop recommendations for climate-related financial disclosures that would help investors, lenders, and insurers make more informed decisions. The TCFD published recommendations in 2017 organized around governance, strategy, risk management, and metrics/targets. The recommendations are principles-based and intended to apply broadly across sectors and jurisdictions. They aim to provide decision-useful climate-related financial information to investors and others.
Climate risk disclosure: What are the financial and asset impacts of physical...Briony Turner
This presentation was given as part of Futurebuild 2020 | 4 March | Session: How do we achieve '100% net zero carbon'? You will need to download it to use the hyperlinks.
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Presentation by Alan Miller and Andrew Eil, Climate Finance Advisors, as part of the Peer Learning Summit (PLS) in Rotterdam, Netherlands, from July 9-11.
Webinar: What does climate-related financial disclosure really look likeCDSB
This webinar helps you understand how to overcome common TCFD implementation challenges and discover practical guidance and examples of good practice for disclosing climate-related financial information.
Speakers:
Youri Lie, Senior Manager, EY
Fiona Quinlan, Technical Manager, CDSB
Advancing nature-related financial disclosure at scaleCDSB
With momentum building for climate-related financial disclosure, there is a growing imperative for environmental issues to be reported in an integrated way. CDSB has launched an open, public consultation to advance the disclosure of nature-related financial information in the mainstream report and explore the role of the CDSB Framework in this process. This webinar explores the consultation in more detail and outlines how to participate. Submit your response: www.cdsb.net/consultation
Similar to TCFD Workshop: Practical steps for implementation – Michael Zimonyi (20)
Learning lessons from early adopters of Aotearoa New Zealand Climate Standard...McGuinness Institute
The document provides an overview of climate-related disclosure requirements in New Zealand. It summarizes the initial results of analyzing climate statements from 111 annual reports of listed companies. Key findings include: 5 companies fully disclosed according to climate standards, 26 disclosed partially, and 34 expressed intent to disclose fully in the future. Disclosures provided insight into long-term climate scenarios and risks. Recommendations include improving accessibility of climate statements.
The document provides a timeline of 857 historical events that have contributed to the development of Aotearoa New Zealand from 1769 to present day. The timeline is organized into different domains and threads and can be read chronologically or filtered by domain, thread, or index entries. Some of the earliest events included are Cook's arrival in 1769 and claiming of New Zealand for Britain, the introduction of diseases that significantly impacted Māori populations, and other first contact between Māori and Europeans in the late 18th century.
Foresight tools help us brainstorm ideas about the future so we are better prepared for the opportunities and challenges that may arise. It provides the ability to forward engage, interacting early before issues become difficult to manage.
This booklet – the first of three in the series – outlines 20 foresight tools to throw into the mix, while you walk forward into the future.
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This document provides 7 infographics summarizing the current state of ocean management in the Marlborough Sounds and Cook Strait of New Zealand. It finds a lack of scientific data on ocean flora and fauna, with commercial interests often prioritized over environmental protection. The infographics examine issues like protected species, aquaculture regulations, the impacts of climate change on salmon farming, and future strategic options for the industry. The document concludes with recommendations for improving ocean governance and management.
The document outlines the agenda for a BIG Ideas Briefing to the Incoming Government event on February 22, 2023. The agenda includes an introduction by Wendy McGuinness, a discussion led by Professor Girol Karacaoglu, and a Q&A session. Refreshments will be provided. The briefing will discuss cross-cutting themes identified in research and provide an implementation checklist for BIG policy actions. The goal is to share insights with new government patrons on developing shared narratives, establishing supportive governance, stakeholder engagement, and effective implementation of anticipatory policies.
20221007 3pm McGuinness 3Waters Oral Powerpoint FINAL -plus 5.pdfMcGuinness Institute
The document provides an oral submission on the Water Services Entities Bill from Wendy McGuinness, CEO of the McGuinness Institute. It identifies several errors and inconsistencies in the bill and explanatory note. It recommends strategic and operational improvements to governance, including establishing a Minister of Water, a single water services entity modelled after Scottish Water, and aligning the entities with climate change policy and reporting requirements. It emphasizes concepts like public accountability, foresight in planning for climate shocks, and the need for flexible policy given increasing climate impacts on water systems. Questions are posed for discussion.
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The document proposes reclassifying stewardship land on the West Coast of New Zealand to increase conservation and create ecological corridors. It summarizes three myths about current conservation efforts and outlines eight recommendations, including increasing national park areas, creating biodiversity corridors, restoring native forests, and establishing metrics to measure conservation outcomes. The rationale provided is the urgent need to address the biodiversity crisis as species decline and face increased threats from climate change and associated extreme weather. Reclassifying stewardship land is presented as a strategic solution that can both protect biodiversity and help mitigate climate change impacts through carbon sequestration.
The document proposes reclassifying stewardship land on the West Coast of New Zealand to increase conservation and create ecological corridors. It summarizes three myths about current conservation efforts and outlines eight recommendations, including increasing national park areas, creating biodiversity corridors, restoring native forests, and establishing metrics to measure conservation outcomes. The rationale provided is the urgent need to address the biodiversity crisis as species decline and face increased threats from climate change and associated extreme weather. Reclassifying stewardship land is presented as a strategic solution that can both protect biodiversity and help mitigate climate change impacts through carbon sequestration.
The document summarizes concerns about errors and inconsistencies in the Water Services Entities Bill and explanatory note. It provides strategic recommendations to improve the bill's governance, including establishing a Minister of Water, creating a single water services entity instead of four regional ones, and transferring water service assets to either a new type of local authority or a Crown entity similar to the Scottish model. The recommendations also address pricing of water usage, broadening the purpose of regulation, including access and risk management in law, and improving accountability through public registers and extending oversight bodies' jurisdiction to water services entities.
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This document provides an overview and analysis of government department strategies (GDSs) in New Zealand. It notes that as of December 2021 there were 221 operational GDSs across government departments. It then provides key statistics on GDSs such as length, number of strategy maps, climate change mentions, and more. The preface discusses the purpose of GDSs and this handbook. Finally, it outlines four major recommendations: 1) Improving communication of government priorities 2) Reassessing all GDSs to consider climate change 3) Establishing a central GDS register 4) Guidance for departments on improving GDS content.
2021 Government Department Strategies Index Handbook – He Puna RautakiMcGuinness Institute
This document provides an overview and analysis of Government Department Strategies (GDSs) in New Zealand. It notes that as of December 2021 there were 221 GDSs in operation. Some key findings include: the Ministry of Health holds the most GDSs at 48; the average length of a GDS is 34 pages; 77 GDSs include a strategy map while 144 do not; and 61% of GDSs were published in the last four years. The document aims to support understanding and use of GDSs through providing relevant information, analysis and resources.
This document provides an agenda and summary of a workshop on climate-related disclosures presented by Wendy McGuinness. The agenda includes sections on why climate intelligence is important, what is happening nationally and globally regarding climate policy and regulations, and how companies can make climate-related disclosures. Under the "What" section, recent developments in New Zealand and globally are summarized, including new standards from the XRB, NZX, FMA, and initiatives like the ISSB and GFANZ. The "How" section outlines what organizations are required to disclose based on size, and provides examples of frameworks and scenarios that can be used to guide disclosures.
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This document is an application to establish a new salmon farm within a 1,000 hectare site located approximately 5 kilometres due north of Cape Lambert. It was submitted by Wendy McGuinness. The majority of the document discusses climate-related financial reporting requirements that the applicant would need to comply with if the farm was approved, including disclosure according to the Task Force on Climate-related Financial Disclosures framework. It also addresses potential climate change risks to the proposed salmon farm operation.
20211101 9am presented draft future of local govt review presentationMcGuinness Institute
This document provides a history of foresight initiatives in New Zealand from 1936 to 2010. It discusses how even relatively simple structures like bridges can fail unexpectedly, demonstrating the difficulty of predicting political changes. Major volcanic eruptions have significant climate impacts globally through sulfate aerosols. The document outlines four-step models for planning future initiatives and recaps foresight work since 1976. It discusses the Long-term Insights Briefings produced for the Australian Government and Prime Minister Helen Clark's vision for New Zealand. Various local councils created scenarios and the document proposes creating a national reference scenarios framework to help organizations prepare for uncertain futures.
20211029 5pm presented draft future of local govt review presentationMcGuinness Institute
This document provides a history of foresight initiatives in New Zealand from 1936 to 2010. It discusses how even relatively simple structures like bridges can fail unexpectedly, demonstrating the difficulty of predicting political changes. It also summarizes the impacts of major volcanic eruptions on climate and agriculture. The document then outlines four-step models for planning future initiatives and recaps some key New Zealand foresight projects from the 1980s onward. It provides examples of long-term insights briefings and scenarios developed by local councils and government agencies on topics like poverty, civic engagement, and climate change.
Preliminary findings _OECD field visits to ten regions in the TSI EU mining r...OECDregions
Preliminary findings from OECD field visits for the project: Enhancing EU Mining Regional Ecosystems to Support the Green Transition and Secure Mineral Raw Materials Supply.
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https://www.youtube.com/@jenniferschaus/videos
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Food safety, prepare for the unexpected - So what can be done in order to be ready to address food safety, food Consumers, food producers and manufacturers, food transporters, food businesses, food retailers can ...
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TCFD Workshop: Practical steps for implementation – Michael Zimonyi
1. October 19 | Tweet @CDSBGlobal
TCFD Workshop:
Practical steps for implementation
October 2019
2. October 19 | Tweet @CDSBGlobal
Download
https://www.sli.do/
Event #TCFD
TCFD Workshop: Practical steps for implementation
3. October 19 | Tweet @CDSBGlobal
Q. How would you describe your
understanding of the TCFD recommendations?
q I am an expert
q I am confident, but need to understand some elements
q I have some knowledge, but need support
q I have little knowledge
q What is the TCFD?
https://www.sli.do/
TCFD Workshop: Practical steps for implementation
4. October 19 | Tweet @CDSBGlobal
To create the enabling conditions for material climate
change and natural capital information to be integrated
into mainstream reporting.
Climate Disclosure Standards Board
Board
Technical Working Group
6. October 19 | Tweet @CDSBGlobal
TCFD Workshop: Practical steps for implementation 6
7. October 19 | Tweet @CDSBGlobal
7
Why?
7TCFD Workshop: Practical steps for implementation
8. October 19 | Tweet @CDSBGlobal
8
Why?
8
• Lack of disclosures on the financial implications on the climate-related aspects;
• Inconsistencies in disclosure practices;
• Lack of context for information
• Use of boilerplate, and non-comparable reporting; and
• Lack of consistent information hinders investors and others from considering
climate-related issues in their asset valuation and allocation processes.
TCFD Workshop: Practical steps for implementation
9. October 19 | Tweet @CDSBGlobal
9
Why?
9
“In general, inadequate information about risks can lead to a mispricing of
assets and misallocation of capital and can potentially give rise to concerns
about financial stability since markets can be vulnerable to abrupt corrections.”
– TCFD Recommendations Report
TCFD Workshop: Practical steps for implementation
10. October 19 | Tweet @CDSBGlobal
10
TCFD recommendations
10
Overview
1. Voluntary
2. Report climate-related financial disclosures in
the annual financial filings (mainstream report)
3. Financial sector & high risk non-financial sectors
4. Transition risks & physical risks (and opportunities)
5. Scenario analysis & forward-looking information
6. Short-term, medium-term & long-term
7. Qualitative & quantitative disclosures
Governance
Strategy
Risk
Management
Metrics
and Targets
TCFD Workshop: Practical steps for implementation
11. October 19 | Tweet @CDSBGlobal
Structuring your disclosures in line with the TCFD 11
12. October 19 | Tweet @CDSBGlobal
TCFD Workshop: Practical steps for implementation 12
Governance Strategy Risk Management Metrics and Targets
Disclose the organization’s
governance around climate-related
risks and opportunities.
Disclose the actual and potential
impacts of climate-related risks and
opportunities on the organization’s
businesses, strategy, and financial
planning where such information is
material.
Disclose how the organization
identifies, assesses, and manages
climate-related risks.
Disclose the metrics and targets
used to assess and manage
relevant climate-related risks and
opportunities where such
information is material.
a) Describe the board’s oversight of
climate-related risks and
opportunities.
a) Describe the climate-related risks
and opportunities the organization
has identified over the short,
medium, and long term.
a) Describe the organization’s
processes for identifying and
assessing climate-related risks.
a) Disclose the metrics used by the
organization to assess climate-
related risks and opportunities in
line with its strategy and risk
management process.
b) Describe management’s role in
assessing and managing risks and
opportunities.
b) Describe the impact of climate-
related risks and opportunities on
the organization’s businesses,
strategy, and financial planning.
b) Describe the organization’s
processes for managing climate-
related risks.
b) Disclose Scope 1, Scope 2, and,
if appropriate, Scope 3 greenhouse
gas (GHG) emissions, and the
related risks.
c) Describe the resilience of the
organisation’s strategy, taking into
consideration different climate-
related scenarios, including a 2°C or
lower scenario.
c) Describe how processes for
identifying, assessing, and
managing climate-related risks are
integrated into the organization’s
overall risk management.
c) Describe the targets used by the
organization to manage climate-
related risks and opportunities and
performance against targets.
13. October 19 | Tweet @CDSBGlobal
Structure of TCFD recommendations
Structuring your disclosures in line with the TCFD 13
Governance
Strategy
Risk
Management
Metrics
and Targets
14. October 19 | Tweet @CDSBGlobal
What is materiality?
• Entity-specific
• Audience-specific
Structuring your disclosures in line with the TCFD 14
15. October 19 | Tweet @CDSBGlobal
What is materiality?
Structuring your disclosures in line with the TCFD 15
16. October 19 | Tweet @CDSBGlobal
Different views around materiality
Structuring your disclosures in line with the TCFD 16
Company impact
on climate can be
financially material
17. October 19 | Tweet @CDSBGlobal
Financial materiality
“Information is material if omitting, misstating or obscuring it could
reasonably be expected to influence the decisions that the primary users
of general purpose financial statements make on the basis of those
financial statements, which provide financial information about a specific
reporting entity.”
– International Accounting Standards Board, 2018
Structuring your disclosures in line with the TCFD 17
18. October 19 | Tweet @CDSBGlobal
TCFD Principles of disclosure
18
1. Present relevant information,
2. Be specific and complete,
3. Be clear, balanced, and understandable,
4. Be consistent over time,
5. Be comparable among organizations within a sector, industry, or portfolio,
6. Be reliable, verifiable, and objective
7. Be provided on a timely basis.
TCFD Workshop: Practical steps for implementation
19. October 19 | Tweet @CDSBGlobal
Q&A
TCFD Workshop: Practical steps for implementation 19
20. October 19 | Tweet @CDSBGlobal
First steps:
What are companies doing?
20
21. October 19 | Tweet @CDSBGlobal
A
Introduction
B
Climate-RelatedRisks,
Opportunities,and
FinancialImpacts
C
Recommendationsand
Guidance
D
ScenarioAnalysisand
Climate-RelatedIssues
E
KeyIssuesConsideredand
AreasforFurtherWork
F
Conclusion
Appendices
Figure 12
Implementation Path (Illustrative)
More complete, consistent, and
comparable information for market
participants, increased transparency,
and appropriate pricing of climate-
related risks and opportunities
Final TCFD
Report Released
Companies already reporting under other frameworks implement the Task
Force’s recommendations. Others consider climate-related issues within
their businesses
Organizations begin to
disclose in financial filings
Greater adoption, further development of
information provided (e.g., metrics and
scenario analysis), and greater maturity in
using information
Five Year Time Frame
AdoptionVolume
Climate-related issues viewed as
mainstream business and investment
considerations by both users and
preparers
Broad understanding of the concentration of
carbon-related assets in the financial system and
the financial system’s exposure to climate-related
risks
22. October 19 | Tweet @CDSBGlobal
TCFD Status Report 2019
Structuring your disclosures in line with the TCFD 22
Key Themes and Findings
Disclosure of climate-related
financial information has
increased since 2016, but is still
insufficient for investors.
More clarity is needed on the
potential financial impact of
climate-related issues on
companies.
Of companies using scenarios,
the majority do not disclose
information on the resilience of
their strategies.
Mainstreaming climate-
related issues requires the
involvement of multiple
functions.
23. October 19 | Tweet @CDSBGlobal
TCFD Status Report 2019
Structuring your disclosures in line with the TCFD 23
24. October 19 | Tweet @CDSBGlobal
TCFD Status Report 2019
Structuring your disclosures in line with the TCFD 24
25. October 19 | Tweet @CDSBGlobal
TCFD 2019 Status Report 25
Alignment with 11 recommended disclosures
More progress
needed
• 78% aligned with at least 1 of the recommendations disclosures
• 1 in 4 companies aligned with > 5 of the recommended disclosures
• 4% of companies aligned with at least 10 of the recommended
disclosures
Disclosure is
low
• Number of disclosures increased by 0.8
• None of the recommended disclosures are over 50% even for
governance and risk
• 78% of companies made a least one recommended disclosure
Resilience &
scenario analysis
• 9% of companies disclosed information on strategy resilience
• Increase of 3% from 2016
26. October 19 | Tweet @CDSBGlobal
TCFD 2019 Status Report 26
Location of the 11 recommended disclosures
The Task Force recommends that:
• Disclosures should be made in the mainstream (i.e., public) annual financial fillings;
• In most G20 jurisdictions, material information should be disclosed in financial fillings;
• Disclosures should be made in accordance with national disclosure requirements;
• Climate-related financial disclosures should be subject to appropriate internal governance
processes; and
• Asset managers and asset owners should use their existing means of financial reporting.
27. October 19 | Tweet @CDSBGlobal
So, what do the findings mean?
What do the
findings mean?
28. October 19 | Tweet @CDSBGlobal
“... progress must be accelerated. Today’s
disclosures remain far from the scale the
markets need to channel investment to
sustainable and resilient solutions, opportunities,
and business models. I believe in the power of
transparency to spur action on climate change
through market forces.”
Michael Bloomberg, Chair, TCFD
29. October 19 | Tweet @CDSBGlobal
Challenges to implementation
• Lack of standardised industry metrics to support implementation;
• Concerns about revealing confidential business information;
• More clarity on the financial impact of climate-related issues; and
• Challenges in adopting scenario analysis include:
– need for further tools;
– business-relevant data;
– industry- and sector-specific methodologies;
– business-relevant climate-related scenarios, and
– methods to quantify financial impacts.
TCFD 2019 Status Report 29
The report highlights:
30. October 19 | Tweet @CDSBGlobal
TCFD 2019 Status Report 30
Commitment from the TCFD
The Task Force is also considering additional work in the following areas:
• Clarifying elements of the Task Force’s supplemental guidance contained in the
annex to its 2017 report (Implementing the Recommendations of the TCFD);
• Developing process guidance around how to introduce and conduct climate-related
scenario analysis; and
• Identifying business-relevant and accessible climate-related scenarios.
The Task Force will continue to promote and monitor adoption of its
recommendations and will prepare another status report for the Financial
Stability Board in September 2020.
31. October 19 | Tweet @CDSBGlobal
First steps in Europe
• Review of reporting practice against the EU Non-
financial Reporting Directive (NFRD) and TCFD
recommendations.
• 30 companies referred to the TCFD in their
management report.
• Range of detail and depth of disclosure with different
approaches taken.
Review of 80 annual reports
TCFD Workshop: Practical steps for implementation
32. October 19 | Tweet @CDSBGlobal
Key findings
• 79% identify at least one risk related to climate change
• Only 4 companies specifically disclose definitions for short-, medium- and long-term
32
Principal risks
TCFD Workshop: Practical steps for implementation
• 81% disclose GHG emissions, but only 41% include an emissions target
• Targets are often missing details of the timeframe, baseline and progress
Non-financial KPIs
• 75% disclose board oversight of environmental or climate-related matters
Governance
• Only one company conducted scenario analysis and disclosed details within their
management report
Scenario analysis
33. October 19 | Tweet @CDSBGlobal
Practical steps for implementation
34. Twin tools to implement TCFD
Practical “how to”
guidance for
companies on
implementing the
TCFD
recommendations
using mock
disclosures
Real world
examples of
corporate
disclosure to
further illustrate
the concepts in
the Guide
Resources
Useful resources to understand and implement the TCFD recommendations
35. October 19 | Tweet @CDSBGlobal
TCFD Implementation Guide
Getting Started
Good-Practice Disclosures
Key Takeaways
TCFD Workshop: Practical steps for implementation 35
36. October 19 | Tweet @CDSBGlobal
TCFD Implementation Guide 6
Good practice disclosures: how-to guidance
Ø OilCo is an integrated oil
and gas company with
global operations
Ø AgriCo is a global agricultural
products company engaged in
processing, trading, and
distributing vegetables and
fruits, and producing and milling
agricultural commodities
Ø AutoCo is a global
automobile manufacturer of
passenger vehicles, light
trucks, and motorcycles
37. October 19 | Tweet @CDSBGlobal
Good Practice Mock Disclosures
TCFD Workshop: Practical steps for implementation 37
Disclosure Excerpt:
The Board of Directors has delegated to the Integrated
Sustainability Advisory Committee (ISAC), a
committee of independent directors appointed by the
Board, on matters relating to sustainable management
of the Company’s activities. The committee directly
reports to and advises the Board on such matters. 1
The Committee reviews internal compliance with both
internally established and externally applicable
sustainability codes and principles across all business
units, reviews compliance with environmental, health,
and safety matters, reviews the results of internal
scenario planning and analysis related to the impacts of
environmental and social trends and uncertainties, and
advises the Disclosure Committee regarding the
determination of materiality of sustainability issues for
the purposes of disclosure herein. 2.
p.18
40. October 19 | Tweet @CDSBGlobal
Governance
Structuring your disclosures in line with the TCFD 40
The TCFD recommends the following disclosures for all organizations:
41. October 19 | Tweet @CDSBGlobal
Governance
Structuring your disclosures in line with the TCFD 41
Why do investors want to know?
• Insight into the governance and risk management context in which financial and operating
results are achieved.
• Do climate-related issues receive appropriate board and management attention?
Survey respondents identified the value of:
• Specificity and detail around board level oversight of climate risk;
• Frequency and types of interactions with management around climate-related
performance; and
• The use of targets to establish accountability around performance.
42. October 19 | Tweet @CDSBGlobal
Governance
Structuring your disclosures in line with the TCFD 42
G a) Disclose the role of the board of the organization in overseeing climate-related
issues.
Consider including a discussion of:
• Processes and frequency by which the board and/or board committees (e.g., audit, risk, or
other committees) are informed about climate-related issues,
• Whether the board considers climate-related issues when reviewing strategy, risk
management policies, expenditure, etc; and
• How the board monitors and oversees progress against targets for addressing climate-
related issues.
43. October 19 | Tweet @CDSBGlobal
Governance
Structuring your disclosures in line with the TCFD 43
G b) Disclose the role of management in assessing and managing climate-related
issues.
Consider including a discussion of:
• Whether your organization has assigned climate-related responsibilities to management-
level positions or committees;
• Description of the associated organizational structure(s);
• Processes by which management is informed about climate-related issues; and
• How management monitors climate-related issues.
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44
BHP BillitonAnnual Report 2018
MRSG
TCFD Workshop: Practical steps for implementation
45. October 19 | Tweet @CDSBGlobal
Barrick, New Value Champion: Annual Report 2018 (pg. 28)
In this succinct extract, the Canadian mining company Barrick states which board-level committee is responsible for overseeing policies,
programmes and performance related to climate change. It states that this committee met quarterly, although it could be made explicit
whether climate change featured on the agenda of each of these meetings.
The disclosure also states that climate change is built
into the company’s formal risk management process.
This shows the interconnectivity of the governance and
risk management core TCFD elements and associated
disclosures, with the two TCFD governance
disclosures covering who in the business is involved
and the risk management disclosures covering what
processes are used to manage and monitor the
associated climate-related risks.
This governance disclosure on board oversight also
helpfully explains the roles of both the audit and risk
committees and their interface with the company’s
Board, which is not always clear in other governance
disclosures.
https://barrick.q4cdn.com/788666289/files/annual-report/Barrick-Annual-Report-2018.pdf
TCFD Good Practice Handbook 45
Governance
46. October 19 | Tweet @CDSBGlobal
Royal Bank of Canada, Annual Report 2018 (pg. 5 and 89)
This second extract from the Royal Bank of Canada explains which
functions are involved in identifying, assessing, monitoring and
reporting on climate-related issues, and ties this back to
performance goals at a management level.
This extract from the Royal Bank of Canada, a Canadian
multinational banking and financial services company, shows that
climate issues feature prominently at the top. Here, the Chair of the
Board, in introducing the annual report, refers to “climate change
as the most pressing issue of our age” and explains the Board’s
oversight function in this respect.
https://annualreports.rbc.com/ar2018/
Governance
TCFD Good Practice Handbook 46
47. October 19 | Tweet @CDSBGlobal
Investor use of governance information
• Identify the organizational structures and functions of corporate boards; and
• Verify that board oversight of climate-related governance is being effectively implemented,
through reports to the boards from the relevant committees.
Structuring your disclosures in line with the TCFD 47
Aspects to check as an investor
Examples of verification
• Are the CEO/Board Members up to date in policies outlined in the Annual Report?
• Have deliberations and decisions been circulated, acted on?
49. October 19 | Tweet @CDSBGlobal
Strategy
Structuring your disclosures in line with the TCFD 49
The TCFD recommends the following disclosures for all organizations, subject to a
materiality assessment:
50. October 19 | Tweet @CDSBGlobal
Strategy
Structuring your disclosures in line with the TCFD 50
The TCFD recommends the following disclosures for all organizations, subject to a
materiality assessment:
• What do you mean by short-, medium- and long-term?
• What material opportunities and risks have you identified for each?
• What process(es) have you used to determine whether they will have a financial impact on
your organisation?
51. October 19 | Tweet @CDSBGlobal
Strategy
Structuring your disclosures in line with the TCFD 51
The TCFD recommends the following disclosures for all organizations, subject to a
materiality assessment:
Impacts on:
• Products and services
• Supply chain and/or value chain
• Adaptation and mitigation activities
• Investment in research and development
• Operations (including types of operations and location of facilities)
52. October 19 | Tweet @CDSBGlobal
Strategy
Structuring your disclosures in line with the TCFD 52
The TCFD recommends the following disclosures for all organizations, subject to a
materiality assessment:
53. October 19 | Tweet @CDSBGlobal
Strategy – scenario analysis
Structuring your disclosures in line with the TCFD 53
Why do investors want to know?
• Context of the relevant scenarios selected and developed;
• Assumptions behind the scenarios;
• Alignment of a company’s underlying future vision with its business model;
• Risks and opportunities recognized through scenario analysis and processes to
incorporate them into the company’s strategy and financial plans.
54. October 19 | Tweet @CDSBGlobal
Strategy – scenario analysis
Structuring your disclosures in line with the TCFD 54
Why do investors want to know?
• Assess alignment between the decision-making processes that led to a company’s
strategies and the scenarios used; as well as
• Appropriateness of scenarios used within the industry.
• Accuracy of the data of the scenario or analytical results provided by the company is less
important.
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Example
55TCFD Good Practices Handbook
Retrieved from page 50-53:
https://www.commbank.com.au/content/dam/commbank/about-us/shareholders/pdfs/results/ fy18/cba-annual-report-2018.pdf
57. October 19 | Tweet @CDSBGlobal
xxxxxxx xxxxxxxxx 57
Expected insurance
premium cost impacts
over time
Transition risk impacts
on domestic economy
at a sectoral level
Expected impacts on
damage and loss over time
Transition risk impacts
on domestic economy
at a sectoral level
Physical Transition
Insurance WealthRetail lending Business lending
Building
insurance policies
FirstChoice
Australian Share Fund
Home loan portfolio Business lending portfolio
debt exposure
MODELLINGANALYSISDRIVERSOFRISKCBA-SPECIFIC
APPLIEDANALYSIS
Market Regulatory Legal Reputation TechnologyFlooding Storms Extreme heat
and drought
Bushfires Sea level
rise
Corporate
governance
Directors’
report
Financial
report
Other
information
58. October 19 | Tweet @CDSBGlobal
xxxxxxx xxxxxxxxx 58
Potential impacts
on insurance claims and
affordability of insurance
Change to sector
value add contribution
Exposure of fund to growth
and contraction sectors
Potential damage to properties
Home loan portfolio
exposure concentrations
Building
insurance policies
FirstChoice
Australian Share Fund
Home loan portfolio Business lending portfolio
debt exposure
Economic growth and
contraction by sector
Sector heat maps
Exposure of portfolio to growth
and contraction sectors
CBA-SPECIFIC
APPLIEDANALYSIS
PROJECTOUTPUTSSTRATEGICRESPONSE
Develop
management approach
of current and
future portfolio in
high risk areas
Consider customer awareness
and engagement options
Consider
asset allocations
Consider further
scenario analysis for
global portfolios
Update ESG risk
assessment tool
Explore and develop
low carbon products
and services
Client engagement and
capacity building
Consider business and
customer implications and
emerging insurance
product needs
Explore approaches
to risk mitigation
Consider customer awareness
and engagement options
(at an aggregated level)
due to perils
51
Other
information
59. October 19 | Tweet @CDSBGlobal
Scenario analysis is not a prediction of
future performance
Scenarios should be understood as narratives based on
multiple assumptions.
What is important is not credibility of the results of
analysis, but the responses to the expected futures.
Structuring your disclosures in line with the TCFD 59
61. October 19 | Tweet @CDSBGlobal
Risk management
Structuring your disclosures in line with the TCFD 61
The TCFD recommends the following disclosures for all organizations:
62. October 19 | Tweet @CDSBGlobal
Risk management
Structuring your disclosures in line with the TCFD 62
The TCFD recommends the following disclosures for all organizations:
• How do you determine the relative significance of climate-related risks vs other risks?
• Do you consider existing and emerging regulatory requirements related to climate
change?
• Existing risk classification frameworks used?
63. October 19 | Tweet @CDSBGlobal
Risk management
Structuring your disclosures in line with the TCFD 63
The TCFD recommends the following disclosures for all organizations:
• How do you make decisions to mitigate, transfer, accept, or control those risks?
• How do you prioritise climate-related risks?
• How are materiality determinations made within your organization?
64. October 19 | Tweet @CDSBGlobal
Risk management
Structuring your disclosures in line with the TCFD 64
The TCFD recommends the following disclosures for all organizations:
• Climate risk is a business risk.
• If it is material, should it be reported separately?
65. October 19 | Tweet @CDSBGlobal
Types of risk
Transition risk
• Policy and Legal
e.g.: Exposure to litigation, carbon pricing
• Technology
e.g.: Substitution of existing products and
services with lower emissions options
• Market
e.g.: Increased cost of raw materials
• Reputation
e.g.: Shifts in consumer preferences
Structuring your disclosures in line with the TCFD 65
Physical risk
• Acute
e.g.: Increased severity of extreme
weather events such as cyclones
and floods
• Chronic
e.g.: Changes in precipitation patterns and
extreme variability in weather patterns
66. October 19 | Tweet @CDSBGlobal
SSEAnnual Report 2018
66
MRSG
TCFD Workshop: Practical steps for implementation
67. October 19 | Tweet @CDSBGlobal
Metrics and targets
68. October 19 | Tweet @CDSBGlobal
Metrics and targets
Structuring your disclosures in line with the TCFD 68
The TCFD recommends the following disclosures for all organizations, subject to a
materiality assessment:
69. October 19 | Tweet @CDSBGlobal
Metrics&Targets
http://2018ar.prudentialreports.com/src/assets/pdf/Prudential-AR2018.pdf
In its data table, Prudential reports its Scope 1, 2 and 3 emissions and breaks
down such emissions by both its occupied estate as well as its investment
estates. Prudential’s previously discussed focus on its Scope 2 emissions are
supported by the relatively high degree to which such emissions contribute to
its overall emissions. Prudential also reports several normalised metrics, using
factors to establish efficiency ratios that can enhance comparability across
companies to the extent such ratios are generally accepted.
Prudential has also
established a target
with a base year of
2018 to achieve
100% renewable
electricity by 2025
across its occupied
and management
investment estates.
It notes that it has had its Scope 2 group
emissions independently assured, enhancing
investor confidence in the reliability of the
reported data.
Prudential, a British multinational life insurance and financial services company, provides an in-depth discussion of its climate-related
performance. When discussing its Scope 1, 2, and 3 emissions, Prudential specifically notes the scope and methodology utilised to
calculate its Scope 3 emissions related to the air travel of its employees. Prudential also provides in-depth discussion on its Scope 2
emissions, which make up the majority of its overall emissions.
Prudential, We do life: Annual Report 2018 (pg. 76-7)
TCFD Good Practice Handbook 69
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TotalRegistration Document 2018
71
MRSG
Including a reference table is a great idea,
especially when additional information is
included in separate disclosures.
TCFD Workshop: Practical steps for implementation
“The Task Force believes disclosures related to its
Governance and Risk Management
recommendations directly address [the] need for
context and should be included in annual
financial filings. For disclosures related to the
Strategy and Metrics and Targets
recommendations, the Task Force believes
organizations should provide such information
in annual financial filings when the information
is deemed material.” (TCFD, p17)
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Commonwealth Bank of AustraliaAnnual Report 2018
TCFD Workshop: Practical steps for implementation 72
MRSG
73. October 19 | Tweet @CDSBGlobal
TCFD recommendations: checklist
TCFD Workshop: Practical steps for implementation 73
Secure the support of your board of directors and
executive leadership team
Integrate climate change into key governance
processes, enhancing board-level oversight through
audit and risk committees
Bring together sustainability, governance, finance, and
compliance colleagues to agree on roles
Look specifically at the financial impact of climate risk
and how it relates to revenues, expenditures, assets,
liabilities, and capital
Assess your business against at least two scenarios
Adapt existing enterprise-level and other risk
management processes to take account of climate risk
Solicit feedback from engaged investors to understand
what information they need regarding climate-related
financial risks and opportunities
Look at existing tools you may already use to help you
collect and report climate-related financial information
(e.g., CDP, CDSB, SASB)
Plan to use the same quality assurance and
compliance approaches for climate-related financial
information as for finance, management, and
governance disclosures
Prepare the information you report as if it were going to
be assured
Look at the existing structure of your annual report and
think about how you can incorporate the
recommendations
74. October 19 | Tweet @CDSBGlobal
7 top tips
1. Adopt the correct lens for looking at climate-related risks
2. Make holistic disclosures
3. Distinguish between climate leadership and management
4. Explain how you assess the material risk of climate change to your business
5. Disclose using existing standards and metrics
6. Make as many of the 11 recommended disclosures are you can
7. Put it in your mainstream report
TCFD Good Practice Handbook
Learning from good practice in climate-related financial disclosures
Don’t let the perfect be the enemy of the good
74
75. October 19 | Tweet @CDSBGlobal
Resources available
75
77. Twin tools to implement TCFD
Practical “how to”
guidance for
companies on
implementing the
TCFD
recommendations
using mock
disclosures
Real world
examples of
corporate
disclosure to
further illustrate
the concepts in
the Guide
Resources
Useful resources to understand and implement the TCFD recommendations
78. October 19 | Tweet @CDSBGlobal
Thank you
Michael Zimonyi
Policy & External Affairs Director
michael.zimonyi@cdsb.net