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Mandatory climate disclosure in France drove down fossil fuel holdings
13 January 2021The introduction of mandatory climate-related disclosures in France resulted in a "sharp relative decrease" in holdings of fossil fuels securities by institutional investors, according to a report by the Banque de France, indicating such requirements have a critical role to play in redirecting capital sustainably.
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IFRS 'should use TCFD' as basis for reporting standards, says FSB
24 December 2020The IFRS Foundation's proposal to devise international sustainability reporting standards should be underpinned by the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), the Financial Stability Board (FSB) has said.
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Hong Kong regulators deliver action plan for greening financial ecosystem
18 December 2020A steering group composed of key Hong Kong regulators has announced its five-point action plan for a green and sustainable finance strategy for the major financial centre.
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Asset manager taskforce calls on bondholders to assert their rights
24 November 2020A UK government-initiated taskforce has announced recommendations to strengthen sustainable stewardship in the UK investment industry, including encouraging investors to assert their rights in the bond and private markets.
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Asian firms overtake US on emissions disclosure, says Arabesque
23 November 2020The proportion of Asian companies reporting carbon emissions has jumped above that of US firms in 2019, according to a report by sustainability-focused asset manager Arabesque, although European corporates continue to lead.
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UK government announces green sovereign bond and climate disclosure plan
09 November 2020The UK government has announced plans to issue its first green sovereign bond in 2021, as well as making for climate-risk disclosures mandatory for major companies by 2025.
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Only a matter of time' before TCFD becomes mandatory in UK, says BofE
20 October 2020Bank of England (BofE) markets executive director Andrew Hauser said you can "reasonably expect" adoption of recommendations outlined by the Task Force on Climate-related Financial Disclosures (TCFD) to become mandatory in the UK.
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Science Based Targets initiative launches financial sector framework
01 October 2020Science Based Targets initiative (SBTi) has launched its "breakthrough" pilot framework for financial institutions to set science-based climate targets, but campaigners were "disappointed" and "disturbed" by what they perceive to be shortcomings.
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New Zealand first to make climate disclosures compulsory for financial firms
15 September 2020New Zealand has become the first country to make it mandatory for financial firms to report on climate risks, described as a "visionary" step by one of the architects of the Paris Agreement.
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Central banks should step up to face environmental breakdown risk in finance
21 August 2020Market-fixing approaches such as the nascent Task Force for Nature-related Financial Disclosures (TNFD) are "unsuitable" for managing the risks posed by environmental breakdown, an academic paper has argued, instead proposing that central banks and financial regulators should introduce strict industry-wide exclusionary criteria.