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Climate Change Financial Reporting

Fossil Fuel Companies Acknowledge Climate Litigation Threatens Their Bottom Line

Posted: 01.23.2020 no comments

 

Fossil fuel companies facing climate-related litigation are starting to acknowledge in their financial disclosure forms that these legal challenges could harm their business.   Dozens of companies have been named in more than a dozen climate liability lawsuits filed by communities across the country. Those lawsuits seek to recover climate-related damages and attempt to hold […]

 

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Are Pension Funds in Breach?

Posted: 12.04.2019 no comments

 

Mark McVeigh, a 24-year-old environmental scientist from Australia, won’t be able to access his retirement savings until 2055. But, concerned about what the world may look like then, he’s taking action now, suing his $57 billion pension fund for not adequately disclosing or assessing the impact of climate change on its investments.       The […]

 

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UK’s Largest Money Manager Issues Climate Catastrophe Warning

Posted: 04.18.2019 no comments

 

The world is facing a climate catastrophe and businesses around the world must address it urgently or face the ultimate sanction for a public company, shareholders who refuse to back them any more. That is not a message from an environmental action group but from the largest money manager in the UK, Legal & General Investment […]

 

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Norway’s Giant Oil Fund Diverts Billions into Renewables

Posted: 04.05.2019 no comments

 

Even nations that built their fortunes on fossil fuels are seeing the future is green. Norway’s $1Tn oil fund, the world’s largest sovereign wealth fund, is to plunge billions of dollars into wind and solar power projects. The decision follows Saudi Arabia’s oil fund selling off its last oil and gas assets.   Read the entire […]

 

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Morgan Stanley Issues Warning re Climate Change

Posted: 02.25.2019 no comments

 

While governments and corporations are starting to protect themselves from the impacts of climate change, Morgan Stanley says private businesses need to do more.   Read the entire article at AXIOS.     What to watch: The investment bank’s strategists are recommending companies strongly consider preparing for a world with more frequent and intense weather events, […]

 

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Investment Funds Urge Action on Climate Change

Posted: 01.22.2019 no comments

 

A global group of 415 investors managing $32 trillion in assets just released a combined statement urging governments to accelerate their actions to mitigate climate change.   Read the entire article at Forbes.   The group warns that ignoring action against climate change could cause permanent economic damage up to four times the size of the […]

 

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Up to 30% of Manageable Assets Globally at Risk to Climate Change

Posted: 12.19.2018 no comments

 

Climate change could soon be “the defining issue for financial stability” according to Mark Carney, governor of the Bank of England and former head of the Financial Stability Board, the international body established to make recommendations to prevent financial collapse. To take that out of econo-speak: Failure to fully comprehend climate risks — droughts, floods, […]

 

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Credit Downgrades Imminent for Cities Unprepared for Climate Impacts

Posted: 07.15.2018 no comments

 

Many U.S. coastal communities, unprepared for flooding and other effects of global warming-driven sea level rise, are heading toward an imminent downgrade of their credit unless they act quickly, a new report says.   Read the entire article at Climate Liability News.    The report warns that federal subsidies for rebuilding flooded properties, coupled with the […]

 

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Investor-pushed Climate Resolutions Pass at Kinder Morgan

Posted: 05.21.2018 no comments

 

Kinder Morgan investors approved two non-binding but symbolically important resolutions related to climate change during the pipeline maker’s annual meeting.   Read the entire article at AXIOS.    These results are among the first of several high-profile votes expected this spring at numerous energy companies’ annual meetings. It’s also the latest in a trend of investors […]

 

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HSBC the Latest Bank to Announce End to Fossil Fuel Investments

Posted: 05.14.2018 no comments

 

Global banking giant HSBC has announced it would no longer fund fossil fuel projects, including Arctic drilling, tar sands development, the construction of new coal plants, and hydroelectric projects that are not consistent with guidelines set by the World Commission on Dams.   Read the entire article at Triple Pundit.    “Our updated energy policy reflects […]

 

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