IEMA and IFoA publish new climate risk disclosure guide

9th July 2020


Istock 1136407887

Related Topics

Related tags

  • sea ice loss ,
  • Reporting ,
  • Global ,
  • Investment

Author

Luke Squire

Sustainability body IEMA and the Institute and Faculty of Actuaries (IFoA) have today published a new guide to help companies engage with the Task Force on Climate-related Financial Disclosures (TCFD).

The guide draws on insights from financial and sustainability risk practitioners, outlining how a wide range of stakeholders can understand the TCFD's recommendations for disclosing climate risks to investors.

Details will be discussed further during a webinar on Friday 10 July at 10am BST, led by the guide's co-authors Paul Pritchard, IEMA Fellow, and Louise Pryor, IFoA president-elect and IEMA Fellow.

“We are facing a potentially existential risk with huge associated uncertainties that challenges existing financial risk methodologies,“ Pritchard said.

“The appropriate response must surely involve building on the capabilities of current financial risk models to develop approaches, transparently drawing on a whole range of skills and experience.“

More than 1,000 organisations – including banks, asset managers and insurers – now support the TCFD, which aims to drive capital towards low-carbon companies and projects by helping investors make smart financial decisions.

The governments of Belgium, Canada, Chile, France, Japan, Sweden and the UK also support the initiative, which was set up by the Financial Stability Board in 2015, with its recommendations published two years later.

Stakeholders can refer to the new guide when seeking to understand disclosures, and use it for suggested follow-up questions for the organisations that have disclosed them.

“IFoA members and IEMA sustainability professionals are ideally placed to bring their complementary experience to bear on this important issue,“ Pryor said.

“Actuaries' expertise allows them to identify and manage long-term risk and these skills can play a vital role in driving the TCFD's recommendations.

“This guide is designed for users of climate-related disclosures and reflects the type of fruitful collaboration between specialists that is becoming increasingly necessary as we respond to the nature of the systemic risks that the world is currently facing. I would like thank all those involved.“

The guide is available for free here, while you can register for tomorrow's webinar here

Image credit: iStock

Subscribe

Subscribe to IEMA's newsletters to receive timely articles, expert opinions, event announcements, and much more, directly in your inbox.


Transform articles

Young people struggling to secure green jobs

Just one in 20 workers aged 27 and under have the skills needed to help drive the net-zero transition, compared with one in eight of the workforce as a whole, new LinkedIn data suggests.

18th June 2024

Read more

With a Taskforce on Inequality and Social-related Financial Disclosures in the pipeline, Beth Knight talks to Chris Seekings about increased recognition of social sustainability

6th June 2024

Read more

Disinformation about the impossibility of averting the climate crisis is part of an alarming turn in denialist tactics, writes David Burrows

6th June 2024

Read more

David Symons, FIEMA, director of sustainability at WSP, and IEMA’s Lesley Wilson, tell Chris Seekings why a growing number of organisations are turning to nature-based solutions to meet their climate goals

6th June 2024

Read more

A system-level review is needed to deliver a large-scale programme of retrofit for existing buildings. Failure to do so will risk missing net-zero targets, argues Amanda Williams

31st May 2024

Read more

Chris Seekings reports from a webinar helping sustainability professionals to use standards effectively

31st May 2024

Read more

Although many organisations focus on scope 1 and 2 emissions, it is vital to factor in scope 3 emissions and use their footprint to drive business change

31st May 2024

Read more

IEMA submits response to the Future Homes Standard consultation

31st May 2024

Read more

Media enquires

Looking for an expert to speak at an event or comment on an item in the news?

Find an expert

IEMA Cookie Notice

Clicking the ‘Accept all’ button means you are accepting analytics and third-party cookies. Our website uses necessary cookies which are required in order to make our website work. In addition to these, we use analytics and third-party cookies to optimise site functionality and give you the best possible experience. To control which cookies are set, click ‘Settings’. To learn more about cookies, how we use them on our website and how to change your cookie settings please view our cookie policy.

Manage cookie settings

Our use of cookies

You can learn more detailed information in our cookie policy.

Some cookies are essential, but non-essential cookies help us to improve the experience on our site by providing insights into how the site is being used. To maintain privacy management, this relies on cookie identifiers. Resetting or deleting your browser cookies will reset these preferences.

Essential cookies

These are cookies that are required for the operation of our website. They include, for example, cookies that enable you to log into secure areas of our website.

Analytics cookies

These cookies allow us to recognise and count the number of visitors to our website and to see how visitors move around our website when they are using it. This helps us to improve the way our website works.

Advertising cookies

These cookies allow us to tailor advertising to you based on your interests. If you do not accept these cookies, you will still see adverts, but these will be more generic.

Save and close