Climate disclosures: The clock is ticking
December 08, 2023
As regulators shift from voluntary to mandatory climate disclosures, climate risk is rising up the corporate agenda.
But what are climate-related risks? And how will these regulatory changes, such as the SEC climate disclosure rule proposal and the new EU climate change disclosure guidelines, affect how you measure, manage and disclose these climate-related risks?
Martin Sarjeant, SVP, Insurance Risk Management, FIS, explains what you need to know and what you should consider as you prepare for these new regulations.
Would you rather read the transcript than watch the video? Just scroll down to read Martin’s advice.
The effects of climate change are all around us, and now regulators globally are driving companies to move from voluntary to mandatory climate disclosures.
This essentially means that now firms need to report on their activities in much more detail. For example, they'll need to disclose their greenhouse gas emissions, their governance of climate-related risks, the financial risks of climate change for their business, and the impact on their strategy and outlook.
Climate risks, though, are not typical corporate risks. So, they're not a type of risk most companies have ever had to manage or measure before.
Each industry has its own unique exposure to climate risks. Whatever climate risks your company is exposed to, the clock is now ticking for you to measure, manage, and disclose them.
But it's not all about regulatory deadlines. Time is running out for our planet too. And the sooner you start working on climate disclosures, the sooner you can start to understand, manage and take practical steps to mitigate the risks.
- Topics:
- Risk management and compliance
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