Bank of England

BlackRock, JP Morgan, J&J on ESG Going Mainstream: Briefing

Press Release

November 12, 2019 /3BL Media/ - The economist Milton Friedman famously said that “the social responsibility of business is to increase its profits”. Nearly 50 years since Friedman introduced his theory change is now afoot. ESG information on companies is being utilised as a guide to the movement of capital. ESG is becoming mainstream.

Companies Should Report Possible Climate Costs, Say Global Executives

The information should routinely appear in financial statements, according to recommendations to be presented to G-20 leaders
Article

Originally posted on Wall Street Journal.

LONDON—Companies should publish an assessment of the losses they could suffer through climate change as part of their routine financial statements, according to a panel of financial and business executives chaired by Michael Bloomberg.

Carney Panel Urges CEO Compensation Link With Climate Risk

Article

Originally posted on Bloomberg.com

Energy companies should consider telling investors how executive compensation is linked to climate change risks, according to a panel advising the Group of 20 nations.

Climate Related Financial Disclosure For Business: An Imperative For 2017

Article

2016 began - as recorded here on Forbes - noting that climate change was becoming very real in the financial world. As we head towards the end of what has been a tumultuous year, the Financial Stability Board (FSB) is clear the message needs to be reinforced, not dismissed.

Companies Must Disclose Climate-change Risk: Carney Panel

Article

Corporations, especially those in the financial and energy sectors, should provide investors with clear and systematic disclosure of the risks that climate change poses to their future economic health, a task force reporting to Bank of England Governor Mark Carney recommended Wednesday.

The group, headed by Bloomberg LP founder Michael Bloomberg, pointed to carbon-intensive, fossil-fuel companies as being among those that will be most significantly affected by the transition to a lower-carbon economy, with risks being borne by their lenders and investors.

Carney-Backed Report Urges Companies to Disclose Climate Change Effects

BoE governor and media billionaire behind proposals to better inform investors and lenders
Article

Originally posted in the Financial Times.

A task force led by Michael Bloomberg and backed by Mark Carney has urged companies to disclose to investors the impact of climate change on their businesses.

The governor of the Bank of England and the billionaire media owner are behind a new set of recommendations designed to give investors, lenders and insurers a better idea about how climate change will affect individual businesses.

Swiss Re Adopts Climate-Related Financial Disclosure Recommendations

Article

Originally posted in Canadian Underwriter

Swiss Re announced on Wednesday that it will adopt the climate-related financial disclosure recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).

TCFD Reaction: 'Turning Point for Climate Disclosure'

Article

Originally posted on Environmental Finance.

The launch of TCFD's recommendations were today hailed as a landmark moment for investors campaigning to have climate considerations integrated into mainstream reporting.

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