Seminar Series: Managing Climate Risk, Enhancing Climate Action
15th Sept. 2020
Mindful Money welcomes today’s announcement by the Minister for Climate Change requiring mandatory reporting on climate risks. This provides the basis for transparency and accountability for climate risks, impacts and action.
This is an important step forward in providing greater transparency from the financial sector and a financial foundation for climate action. Disclosure provides benefits for investors, financial regulators, climate policy-makers and financial institutions themselves as they are required to assess risk systematically across their organisations. The finance sector has been a strong supporter of this policy, as has research institutes and civil society, including charities like Mindful Money.
Mindful Money’s Founder and CEO, Barry Coates commented: “Investors need transparency on the management of risk and the actions undertaken by the financial sector. Currently, most investment providers, banks, insurers and other financial institutions claim to take climate change into account. This will provide the information to see if they are actually doing so.”