TFCB on Climate-Related Financial Disclosure Considers The Dramatic Contents of the Intergovernmental Panel on Climate Change




The FSB Task Force (TCFD) on Climate-Related Financial Disclosure And The Dramatic Contents of the Intergovernmental Panel on Climate Change � Hot Topics

A Brief Checklist of the Discussion for You This Week

The Intergovernmental Panel on Climate Change (IPCC) was organized by the United Nations Environment Programme (UNEP) and the World Meteorological Organization (WMO) in 1988 (30 years ago!) to provide a “clear scientific view of the current state of knowledge in climate change and its potential environmental and socio-economic impacts”.

In the late 1970s, the discussion about climate change and global warming began to, well, pardon the pun – heat up!  Foreign Affairs magazine, 1978 posed the question:  “What Might Man-Induced Climate Change Mean?”  The West Antarctica Ice Sheet and CO2 Greenhouse Gas Effect” appeared in the authoritative Nature in the same year.  The debate was on and multi-lateral organizations and governments began to take note and respond. Ten years later ICCC debuted on the global scene.

Over the years since there have many meetings and studies produced, with 195 countries eventually joining the IPCC membership.  Including, significantly, China, the USA, the United Kingdom, the Russian Federation, Germany, France, Italy, Ireland, Israel… and many other sovereigns. The membership list is here: http://www.ipcc.ch/pdf/ipcc-faq/ipcc_members.pdf

Thousands of scientists – subject matter experts – regularly participate in the work of the organization, which is typically around task forces and delving into specific issues.  This gives the IPCC findings and recommendations “a unique opportunity to provide rigorous and scientific information to decision-makers”. The work is policy-relevant but also policy-neutral and never policy-prescriptive.

In October 2018 the IPCC issued a Special Report on Global Warming of 1.5C (above pre-industrial levels) and the rising threat of climate change, as well as sustainable development (think of the SDGs) and efforts to wipe out poverty.

The report and related materials are here for you: http://www.ipcc.ch/

Our Top Story comes from our colleagues at Ethical Corporation, authored by Karen Luckhurst.  She reports on the related activities during a two-days of  meetings at which the FSB’s Task Force on Climate-Related Financial Disclosure (TCFD) recommendations and the  IPCC Special Report were analyzed and discussed by corporate and organizational leaders.

https://ssl.gstatic.com/ui/v1/icons/mail/images/cleardot.gifShe shares with us 10 top takeaways from the TCFD discussions and includes the comments on key players – Richard Howitt, CEO of the IIRC; Susan Beverly of Abbott; Richa Bajpai of Goodera; GRI’s Pietro Bertazzi (head of sustainable development); Laura Palmeiro of Danone; Professor Donna Marshal at USC College of Business; Mark Lewis at Carbon Tracker; Katie Schmitz Eulitt of the Sustainable Accounting Standards Board; Mairead Keigher of NGO Shift (human rights organization); Daniel Neale at Corporate Human Rights Benchmark; Craig Davies at EBRD (investments); and Andre Stovin at AstraZeneca.

Richard Howitt of IRRC told the group that there is a major alignment soon to be announced with other reporting standards agencies (GRI, CDP) – watch for that.

Do read the Top Story this week.  And, mark your calendars – the Ethical Corp “Responsible Business Summits” are coming to San Diego, CA on November 12th; to New York City on March 18, 2019 and on to London for June 10th convening.  There is more information at:http://www.ethicalcorp.com/events.

Governance & Accountability Institute has been a long-term event media partner of Ethical Corporation events for going on 8 years.

This Week's Top Story

Ten takeaways from the Sustainability Reporting and Communications Summit
(Tuesday - October 16, 2018) Source: Ethical Corp - Reporting on the SDGs, alignment between reporting standards, and the Task Force on Climate, Climate-Related Financial Disclosure were big topics during two days of high-level discussion... 

 

Sustainability: Continuing Forward Momentum!
For Your Attention: Items From the The Editors' -- There is Much Good News to Share�

Championing Producers and Sustainability at the 3rd Illy International Coffee Awards
(Thursday - October 11, 2018) Source: Daily Coffee News - The foundation of greatness is sustainability. Andrea Illy, chairman of illycaffe, shared these words at the third annual Ernesto Illy International Coffee Awards, held Oct. 4, 2018, in New York, setting the tone for a day of... 

The Asian Market, Inclusivity And Sustainability Are Key For Next-Gen Designers
(Friday - October 12, 2018) Source: Fashionista - "Sustainability was not something that was on the top of my mind when I started designing," explained Gypsy Sport designer Rio Uribe. "But as I made collections more and more often I would have inventory that I was sitting on... 

Measuring sustainability through inclusive wealth
(Friday - October 12, 2018) Source: Down To Earth - United Nations Environment’s latest report suggests that the Inclusive Wealth Index (IWI), rather than GDP is better suited to capture a nation’s capacity to create and maintain the well-being of its people over time 

Sustainability climbs the agenda for Asia’s skyscrapers  
(Friday - October 12, 2018) Source: Real Views - From the use of solar panels and energy-efficient glass, to combining design with forestry, sustainable architecture is reaching new heights in Asia.

The stark reality of sustaining your ethics
(Sunday - October 14, 2018) Associated Profiles : EU Social Investment Forum Source: Gulf News - And asset managers offering SRI can voluntarily disclose their method of screening applied in their SRI retail funds via the eurosif [European Social Investment Forum] Transparency Guidelines." SRI research is simply a case of... 

Evidence points to investment case for sustainable investing
(Sunday - October 14, 2018) Associated Profiles : HSBC Global Asset Management  Source: FTAdviser - Daniel Rudd, head of UK wholesale for HSBC Global Asset Management, said evidence suggested advisers were seeing a rise in interest among clients to invest ethically, but there were still barriers to making recommendations. These...

The science of sustainability
(Wednesday - October 17, 2018) Source: Eurekalert - The U.S. city of Louisville, Kentucky isn't known as a hotbed of environmental action and innovation, but that could change as it has recently become home to a first-of-its-kind collaboration between environmentalists, city... 

Is Europe’s robust corporate comeback sustainable'
(Wednesday - October 17, 2018) Associated Profiles : Thomson Reuters Source: Financial Times - Questions are being raised, however, over how sustainable this growth is ... according to Refinitiv (formerly Thomson Reuters). Colm Donlon, head of mergers and acquisitions for Morgan Stanley in Europe, the Middle East and... 

How Wharton students are using an app to push for a sustainable campus
(Wednesday - October 17, 2018) Source: Penn Today - Through a Penn Green Fund grant, students in the Wharton School helped develop and pilot the Wharton Green Tracker App, meant to unite the campus’s sustainability community. 

A Closer Look at the Sustainability of Our Groundwater Aquifers
(Saturday - October 20, 2018) Source: EOS - Researchers use a new approach to assessing the world’s largest aquifers in hopes of improving groundwater management during drought periods. 

Sustainability, commerce and economics: How to create right balance for sustainable development
(Thursday - October 18, 2018) Source: Business Today - Ever since the United Nations Development Programme (UNDP) set 17 sustainable development goals (SDGs) in 2015 at a meeting in Paris, all economic and developmental activities post-2015 are supposed to have the sustainability..

Our Focus This Week on A Range of ESG Topics & Issues � More For You to Think About � What Will Be the Future Impact of These Developments? 

CSR Is Dead and Millenials Killed it.
(Thursday - October 11, 2018) Source: PR Week - For over a decade I have plied my trade in Corporate Social Responsibility (CSR). My job, I explain, is to help companies do the right thing by our planet and for society. 

Job openings pass 7 million for the first time
(Wednesday - October 17, 2018) Source: The Hill - U.S. employers had over seven million unfilled jobs on the last business day in August for the first time on record, according to numbers the Labor Department released Tuesday. 

Black Death and other ancient diseases could be re-awakened by climate change, professor warns
(Thursday - October 18, 2018) Source: Fox News - Global warming could re-awaken ancient diseases and even the Black Death, according to an Oxford University professor. Higher global temperatures would melt ice sheets that store long-buried bacteria, which could spread disease... 

The Bay Area is so expensive that employees at Apple, Uber, Google, and other tech giants are putting off having kids — and it's a sign of a much larger trend
(Thursday - October 18, 2018) Source: Business Insider - 58% of tech workers said that the increased cost of living in the area has caused them to put off having kids, according to a survey by Blind, an app that lets (mostly tech) workers chat anonymously about the workplace. 

Business Leaders Support Long-Term View of Corporate Governance
(Friday - October 19, 2018) Associated Profiles : Governance & Accountability Institute, Inc. 
Source: 24/7 Wall St. - An ad hoc group of U.S. business leaders on Thursday released their list of corporate governance principles for publicly traded companies, their boards of directors and institutional investors.

Headlines From the Corporate Sector - Both Positive & Negative

VW’s electric microbuses and Ikea’s furniture servitisation drive: The sustainability success stories of the week
(Monday - October 15, 2018) Source: Edie - From the creation of London’s largest man-made wetland habitat to Volkswagen’s newly-revealed electric microbuses, each of these projects and initiatives are empowering businesses and governments to achieve a sustainable future... 

3 brands discuss the bumps along the road to sustainability
(Thursday - October 18, 2018) Source: QSR Web - Recycled furnishings, solar-powered utilities and waste reduction measures all count as ways QSRs are practicing more sustainable operations. But as keen as customers are for brands that adhere to such earth-friendly practices... 

Headlines

Monsanto: judge moves to allow new trial after $289m cancer verdict
(Thursday - October 11, 2018) Source: The Guardian 

Tears For Sears
(Friday - October 12, 2018) Source: Seeking Alpha 

Facebook removes 559 pages ahead of U.S. midterms for spreading news stories using 'coordinated inauthentic behavior'
(Friday - October 12, 2018) Source: CNBC 

Safety group demands Hyundai, Kia to recall 2.9M cars over reported fire complaints
(Monday - October 15, 2018) Source: Star Advertiser 

'Davos in the Desert': Business leaders pull out of Saudi conference after Khashoggi disappearance
(Tuesday - October 16, 2018) Associated Profiles : Business & Human Rights Resource Centre 
Source: NBC News 

McDonald's, Burger King, Five Guys among 22 burger chains given "F" over antibiotics
(Thursday - October 18, 2018) Source: CBS News

Salads from Whole Foods, Trader Joe's and Walmart Are Being Recalled Over Salmonella Concerns
(Friday - October 19, 2018) Associated Profiles : U.S. Department of Agriculture – Food Safety and Inspection Service Source: People

Apple's Tim Cook demands Chinese spy chip story to be retracted by Bloomberg
(Saturday - October 20, 2018) Source: Fox News 

News & Opinion: Asset Managers, Sovereign Wealth Funds, Pension Funds 

Super Fund could lose half its value as share markets fall
(Thursday - October 11, 2018) Associated Profiles : New Zealand Superannuation Fund 
Source: Newshub - The New Zealand Superannuation Fund has warned it could lose more than half its value if there was a repeat of the Global Financial Crisis (GFC). The Super Fund released its annual report on Thursday amid severe market turbulence...

EDITORIAL: Will CalPERS finally focus on returns'
(Tuesday - October 09, 2018) Associated Profiles : California Public Employees’ Retirement System (CalPERS) Source: MSN - The California Public Employees' Retirement System has unfunded liabilities of at least $168 billion, meaning it has just more than two-thirds of the funds needed to provide promised pensions -- and that's based on... 

Fidelity Becomes First Wall Street Firm to Launch Crypto Branch Trading Desk
(Tuesday - October 16, 2018) Source: News BTC - Today, Boston-based asset manager responsible for $7.2 trillion in customer assets, Fidelity Investments, revealed a separate new branch focusing on cryptocurrencies like Bitcoin and Ethereum called Fidelity Digital Asset... 

G&A Institute Sustainability Update
Informative, insightful, thought provoking
Governance & Accountability Institute's blog focusing on the sustainable world evolving daily before our eyes. Read it, absorb it, question it and challenge.

Why the Olive Tree and Sustainability?

UN IPCC Warns Us: The Time to Act Is Now – The Window For Action on Global Warming is Fast Closing

State of Corporate Sustainability, GreenBiz Releases Latest Update — Top Lines: (1) We are making progress and (2) There are still challenges



The G&A team develops timely insights and perspectives on Corporate Sustainability, Responsibility and Citizenship and we share with you on G&A's To The Point! platform – access is complementary with your registration.  Recent briefs include:

Tech Leaders – Are They Good Corporate Citizens? Microsoft and Other Firms Address the Needs of Their Employee New Parents – And One Positive Signal is Sent

The Needle Continues to Move Forward – Developments in Corporate Sustainability / Responsibility and Sustainable Investing Continue to Shape an Important Year

California Leads the Way (Again) – State’s Giant Pension Funds Must Now Consider Portfolio Climate Risks & Report on Results – It’s the Law

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Louis Coppola from G&A Institute Goes In Depth on How to Improve ESG Performance

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Using The GRI Sustainability Reporting Framework Improves The Quality of ESG Disclosures - Joint Research From G&A Institute and Baruch College Shows

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