Tag: Task Force on Climate-related Financial Disclosures
News round-up: this week in governance
Brewdog culture under fire; Jan du Plessis named as next FRC chair; Wetherspoon opts for worker-directors; £46m fine for Standard Chartered.
Boards need dedicated ESG committees ‘as part of company strategy’
Report for the Institute of Directors says boards need to integrate ESG into strategy and operations as a response to climate concerns.
FRC warns over climate disclosures ahead of COP26 summit
Regulator’s annual review of corporate reporting says it will be “closely revising how companies report against the new TCFD requirements”.
UK green finance report puts focus on transition plans
Chancellor Rishi Sunak says requiring firms to disclose transition plans would help the UK to “set new global standards for sustainability”.
Climate disclosures ‘unlikely to drive a green transition’
Academics say climate reporting is likely to be less effective than direct regulatory interventions such as taxation or emissions trading.
In-house lawyers concerned about legal implications of ESG disclosures
Survey reveals that while US companies are happy to invest in ESG, their lawyers fear legal risks involved in increasing disclosures.
FRC says climate disclosures are ‘failing to meet investor expectations’
Review by the UK regulator finds there is “little evidence” that business models and strategy are being influenced by climate considerations.
Climate reporting requires ‘shift in approach’ to reflect TCFD principles
Study reveals just 154 UK firms made any reference to the Task Force on Climate-related Financial Disclosures (TCFD) in their 2020 reporting.
Investor group calls for shareholder votes on climate strategy
The Investor Forum says greater shareholder influence over climate strategy will increase pressure on boards to meet UK net zero targets.
Roadmap to mandatory TCFD reporting ‘should focus minds’
Some premium listed companies will see compulsory climate reporting as soon as next year. And experts warn that much work remains to be done.