Environmental risk, including failure of climate-change mitigation and adaptation, dominated the World Economic Forum’s (WEF) 2019 Global Risks Report. The findings issued a stark warning to the industry that we are “sleepwalking into a global crisis.” Information on climate risk is important in tackling this crisis and, through climate-related financial disclosure, companies will be better able to understand the impact of environmental risks on their performance and long-term strategy. The recent WEF whitepaper on effective climate governance also highlights the importance of reporting and disclosure. It states that companies should consistently and transparently disclose material climate-related risks and opportunities to all stakeholders.
And, with the latest figures from Carbon Trust showing that two-thirds of UK companies will disclose climate-related risks and opportunities in their 2019 annual reports, it looks like non-financial reporting is already on track for mainstream adoption.
Read the main findings of the Global Risk Report 2019 and why climate-related financial disclosure is key to minimising risk and enabling investors to make informed capital allocations.
Gordon Wilson, Chairman of the Technical Working Group of CDSB, has passed his role to CDSB’s Founding Director, Lois Guthrie. During his eight year tenure, Gordon led the development of the initial Climate Change Reporting Framework and, ultimately, CDSB’s technical expansion into natural capital. We are pleased that he will remain involved in CDSB’s work as a member of the Technical Working Group. Read more
New research shows that sustainability and integrated reporting have increased in Japan due to market drivers and investor expectations rather than through regulatory requirements. The report on the corporate sustainability reporting landscape in Japan was released by World Business Council for Sustainable Development (WBCSD) and CDSB. Read more