The Climate Reality Project’s Post

Finance as usual, has the culture of vicious snakes, they whisper climate and leadership words and then slither back into their dens and create money that is poison for the world. #Finance must be led but new people with better values and commitments to the future and justice or it wil sink us all. #women #POC #indigenous #poorpeople must rewrite finance, must rematriate, repair, regenerate the world wielding money as medicine.

The U.S. Securities and Exchange Commission (SEC) adopted new rules regarding climate-related disclosures by public companies. The change means companies listed on US stock exchanges must now include how they add to global warming through their greenhouse gas emissions. https://lnkd.in/eJhcRPPE #sec #climatechange #globalwarming #stockmarketnews #usstocks

Climate change poses two kinds of risk for financial institutions: the potential physical damage to assets they loaned money for and the danger that the transition to renewable energy will make once-lucrative assets less valuable, or even worthless, earlier than expected. #ESG #climate #audit #risk #riskmanagement #GHG #greenhousegase #environment Saul Elbein

Some banks are stepping back from sustainable investing, citing pressure from the anti-ESG movement and an uncertain regulatory environment. The political aspect of climate change is polarized and dynamic, but as a mentor once reminded me, "everything is shifting except the due date!" Climate change continues to move forward, with or without our consensus. Read more about the challenges facing sustainable investing in the face of political and regulatory uncertainty: https://lnkd.in/g_TCx7NR

https://lnkd.in/dEyygSQa Major financial firms Blackrock, State Street, and JP Morgan (who all also happen to be massively invested in fossil fuels) have stepped back from their commitments to the investor group Climate Action 100+.   This is a clear example of the limitations of voluntary investor action on climate; as soon as Climate Action 100+’s ambition ramped up, these major firms (who celebrated their participation only a few years ago) back out.    We can’t wait for the financial sector to step up and do what’s needed to address the climate problem- phasing out fossil fuels requires policy intervention. Yet investors should still pay attention to these developments. As New York City Comptroller Brad Lander puts it, these firms “are failing in their fiduciary duty and putting trillions of dollars of their clients’ assets at risk,” and their shareholders should take note.   You can read more of CLIFF’s work on the limitations of investor initiatives here: https://lnkd.in/egrRrm_s.

After the long haul, finally we can get a glimpse on how #SECreporting will finalize or re-propose the rules on #climatedisclosure , such as 1) whether to mandate scope 3 for large registrants, 2) exemptions for smaller filers, 3) how prescriptive the disclosure will be, 4) the extent of the climate information for disclosure, and 5) what metrics to use, and more... #sustainabilityreporting https://lnkd.in/gDjaYKb7

The #US Securities and Exchange Commission approved a controversial rule requiring public companies to report #greenhousegasemissions and climate risks, despite revisions. The 3-2 decision, supported by Democrats and opposed by Republicans, attracted over 24,000 comments. To know more : https://lnkd.in/g5YksS8S #climateaction #climatesolution #ecosystem #ecodiscussion #publicsector #republicans #carbonemissions #co2 #greenerfuture

Will the Taskforce on Nature-related Financial Disclosures (TNFD) become mandatory, and if so, when? We explore this in our latest Responsible Investment News & Views, in addition to our usual ESG Snippets feature and Significant Votes section which looks at climate change and recent pushback to collective climate action. Download here: https://okt.to/b7npHP #ResponsibleInvestment #TNFD #ESG #ClimateChange

Since 2018, money invested in climate funds has increased 14-fold globally. To win over climate-conscious investors, asset managers need to be able to articulate their climate strategy. Download our guide to learn more about evolving reporting standards, the TCFD framework, and climate solutions 👉 http://spr.ly/6042XCfsa #ClimateReporting #TCFD #AssetManagers

The #SEC has passed a final rule requiring certain U.S. companies to disclose climate-related risks and greenhouse gas emissions. This decision, aimed at enhancing transparency, marks a significant shift towards integrating climate considerations into #financialreporting. This move aligns with global trends towards greater environmental accountability and could reshape investment strategies, especially for long-term and retirement investors. Read more at CNBC: https://cnb.cx/3IDDFUK Disclosures: https://bit.ly/3PhvGQM