The Sixth Assessment Report (AR65) of the United Nations Intergovernmental Report on Climate Change (IPCC) is nearing publication later this year after being delayed for two years. These assessments, as presented in the final report, are a synthesis of the thousands of comments, findings, and perspectives from literally hundreds of experts involved in the preparation. These experts from around the world, from various disciplines and organizations are assembled in designated working groups with specific charters for their work.
The long-anticipated new rule for corporate climate change disclosures in registrations and certain periodic reports (such as 10-K filings) has been issued by the U.S. Securities & Exchange Commission. The 500+ page draft is now in the required 60-day public comment period, after which the SEC will consider the comments received and move toward the commissioners’ approval of the Final Rule before year-end 2022.
It is often not easy for western companies to live up to the principles of “good corporate citizenship” when they have operations in or are investing in countries without democratic governments. As the unprovoked military invasion of democratic Ukraine by the Russian Federation got underway, western companies doing business in Russia were quickly presented with serious challenges.
The scientific consensus is that climate change is responsible for warming of temperatures, rising seas as icebergs melt, greater intensity of storms (hurricanes, cyclones, and super rainstorms), and more such impacts on Planet Earth. And according to the experts, humans are primarily responsible for climate change.
“Put your stakes in the ground to set expectations with your company’s investors and other stakeholders.” That is among the pieces of expert advice often offered to newly-named CEOs. Concept: Set a goal or two as you start out as CEO for things you would like to be measured on and held accountable for.
To make this work, the new CEO might make it aspirational for teammates, using the goals to help to set key stakeholder expectations, and focus on the things that realistically can be accomplished in the first year and then in the period beyond.
“I believe the de-carbonization of the global economy is going to create the greatest investment opportunity of our lifetime.” This bold prediction is part of the annual letter sent to CEOs of publicly-traded companies by CEO Larry Fink of BlackRock, the world’s largest asset management firm.
BlackRock manages US$10 trillion in assets (as of end of 2021), of which $500 billion is in sustainable investments. Each year CEO Fink sets out the firm’s “expectations” of the companies it owns and shares perspectives on investment trends for leaders in the corporate sector.
With the global COVID-19 pandemic still disrupting our lives and dominating the headlines, it is understandable that important news about sustainability can sometimes slip through the cracks. The G&A team is pleased to continue to bring you our Highlights newsletter with a round-up of the latest breaking news and trends in sustainability affecting businesses and investors.
Efforts by various international organizations to develop common global sustainability reporting standards continue to run into roadblocks, as different groups propose diverging approaches and methodologies to enhance ESG disclosure.
As reported by Responsible Investor (link below in our Top Stories), the G7 Impact Taskforce that was created in July (under the UK’s presidency of the G7), recently commented about reporting standards being developed by the International Sustainability Standards Board (ISSB), an even newer group launched at COP26 in Glasgow.
Our annual in-depth review of corporate sustainability / ESG reporting trends is here and available for your reading. In our 2021 report, you will find detailed analysis of the reporting trends of the S&P 500® Index and Russell 1000® Index companies, which shows that ESG reporting is increasingly being adopted by mid-cap companies.
GLASGOW, Scotland, November 22, 2021 /3BL Media/ - This week the COP26 news reports coming out of this city seem to be everywhere. The Conference of the Parties (“COP”) is the annual gathering sponsored by the United Nations (this is the 26th) of world leaders in public, private and social sectors, coming together to debate and decide on the future path of the global society’s efforts to address climate change challenges.