Financial Stability Board Announces Industry-Led Task Force On Climate-Related Disclosure

Originally posted on forbes.com
 

It is time to stop pretending that hitherto different worlds for investors and markets are not coming together. They are, and they might just make for better business, and a safer world for everyone, including investors.

On December 4, 2015, Mark Carney, the governor of the Bank of England and chair of the international body, the Financial Stability Board, announced the establishment of an industry-led Task Force on Climate-related Financial Disclosures (TCFD), with Michael Bloomberg  – who is now seemingly a potential U.S. Presidential candidate – as chair. He said that the initial membership of the Task Force would be announced in due course.

A few days ago – on January 21 – the FSB announced that initial membership, which will develop voluntary, consistent climate-related financial disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders.

The Task Force membership is striking. It includes a balance between those who prepare and those who use  financial disclosures, and it includes members from both financial and non-financial companies across a range of countries and relevant areas of expertise.

Read the full article here.