Discover and read the best of Twitter Threads about #climaterisk

Most recents (18)

1/ NEW REPORT: Our first ever Canadian Pension Climate Report Card reveals Canada’s major pension funds are not on track to protect pensions from the worsening #climatecrisis or to align their portfolios with a safe climate future. #cdnpoli

A 🧵. Read on!
2/ Canada's pensions must do much more to develop and implement credible Paris-aligned climate action plans, fulfill their fiduciary duty to invest in members’ best long-term interests, and protect retirement security in a world that limits global heating to 1.5°C. #cdnpoli
3/ The report finds a high level of inconsistency among pension funds with a collective >$2 trillion in AUM, with the degree of urgency, detail, transparency, and ambition varying widely for managing climate-related risks and opportunities across the sector. #climaterisk #cdnpoli
Read 27 tweets
1/ Calgary-based NuVista Energy is reporting record oil and gas production and allocating $450 million in capital expenditure to further increase production in 2023. #ableg #cdnpoli…
2/ This clearly violates IEA and IPCC emissions pathways for limiting global temperature increase to 1.5C, which require oil and gas production to immediately and rapidly decline. #fossilfuels #climatecrisis…
3/ On January 1st, NuVista corporate director Deborah Stein joined the Board of Directors of the Ontario Teachers'​ Pension Plan @OTPPinfo. #onpoli #onted #cdnpoli…
Read 5 tweets
Our new report: 'Unburnable #Carbon - 10 Years On' finds global stock markets 🏦 are financing energy companies which are sitting on 3x more #coal, #oil & #gas reserves than can be burned without breaking the 1.5°C Paris climate target… #CarbonBubble
🧵Despite growing urgency to tackle #ClimateChange, 'Unburnable #Carbon' reveals “embedded #emissions” in the #FossilFuel🛢️reserves of companies listed on stock exchanges – the CO2 released if they’re extracted & burned – has grown by nearly 40% since 2012…
@CarolineLucas @EdwardJDavey @Ed_Miliband @MichaelEMann @CFigueres @AnnPettifor @billmckibben @martinwolf_ @AlokSharma_RDG The report warns that 90% of all known #FossilFuel🛢️reserves & resources held by companies must stay in the ground as 'unburnable #carbon' to limit global warming to 1.5°C🌡️🛑… #KeepItInTheGround
Read 13 tweets
After quick reading @environmentca new Emissions Reduction Plan, two major (& predictable) blindspots have emerged. A short 🧵 #ERP #cdnpoli #climatecrisis 1/7
2/7 FINANCE: describes modest historical process, without providing any path forward for aligning financial regulations with #ParisAgreement for regulated finance institutions/crowns, mandatory #ClimateRisk disclosure, stronger capital adequacy requirements, mandate changes, etc
3/7 FINANCE: Under #SFAC, finance institutions are regulating themselves. Major Canadian #banks lobby against mandatory #climaterisk disclosure & are #greenwashing #sustainablefinance - major policy reforms are needed & are missing here.…
Read 7 tweets
Today the @WhiteHouse released a report explaining how it intends to "properly account for and mitigate #climate change-related financial and economic risks" to account for systemic risk in the US government and across the country...…
I applaud this effort - the more we recognize the risks we face, the more we might be willing to take action to mitigate them.

But, I think it also important to recognize that individuals need to be doing this accounting of #climaterisk as much as governments and businesses.
That's one reason we are building @GreenPortfolio_

Everyone should understand their exposure to #climate risk and be empowered to start addressing it.

Join us:
Read 4 tweets
Day 3 of the Climate Risk Summit, focused on communicating climate risk. Liz Bentley of the Royal Meteorological Society kicks off emphasising the need to tailor across sectors and contexts ... #COP26Universities #COP26
... and the tension between needing to deliver a clear message, and the fact that oversimplifying can cause more problems than it solves.
Asks, "Who is best placed to communicate? Experts or communicators?" One ideal answer is climate experts who are good communicators. (Another answer is good collaborative teams, of course ...)
Read 56 tweets
New #GlobalSharkStatus analysis published in @CurrentBiology finds that #overfishing is driving one-third of shark, ray, and chimaera species toward global extinction:… #HealthyOcean #IUCNcongress
New 8-year long #GlobalSharkSatus analysis warns of rising extinction risk for 391 sharks, rays and chimaeras… #GlobalSharkTrends #Overfishing #BiodiversityCrisis #IUCNcongress
New #GlobalSharkStatus analysis funded by @SharkRayFund benefited from a doubling of scientific output over the last ten years. #GlobalSharkTrends #GlobalSharkStatus #IUCNcongress…
Read 24 tweets
The fossil fuel industry is not just in terminal decline; it's also corrupt. #Vitol's settlement w/the Dep't of Justice over violations of the Foreign Corrupt Practices Act #FCPA is an important reminder that transparency & disclosure alone aren't enough to prevent abuse. Thread:
Full disclosure (pun intended): I wrote a lengthly law review article about this topic a decade ago. See "Transparency & the Natural Resource Curse: Examining the New Extraterritorial Information Forcing Rules in the Dodd-Frank Act of 2010… /2
The FCPA is an extraterritorial criminal statute that makes it illegal for US firms to bribe foreign officials. Congress passed it in 1977 in response to genuinely outrageous behavior by Lockheed. Notably, until 2010 or so, the US was alone in criminalizing foreign bribes. /3
Read 17 tweets
Thread on new @CFTC #climaterisk report. Here are the highlights: First & perhaps most importantly, this report was a) commissioned by a majority-Republican federal regulatory agency and b) represents the consensus views of banks, investors, big companies, academics & enviros 1/
2/ Topline message: "US financial regulators must recognize that climate change poses serious emerging risks to the US financial system, and they should move urgently and decisively to measure, understand, and address these risks." Full report here (PDF):…
3/ Notably, the CFTC #climaterisk report does not just make recommendations to the CFTC, and is not limited by the jurisdiction of this agency (commodities, derivatives markets, etc). Also notable: the recommendations aren't binding. If Biden wins, they'll be a blueprint at best.
Read 20 tweets
Coletiva do Mourão agora, aqui:

Ele começou dizendo que ninguém falou de diferença enter desmate ilegal e legal "até porque eles não entendem isso" #ouch
Diz que começaram atrasados o combate ao desmatamento mas no tempo certo para queimadas.

#ConselhoDaAmazonia #Amazonia #ESG #TCFD #climaterisk
Teresa Cristina diz que houve "distorção da Medida Provisória 910, que era para resolver um problema antigo, uma dívida que temos com as pessoas que vivem nas terras da Amazônia".

#ConselhoDaAmazonia #Amazonia #investidores #ESG #TCFD #climaterisk
Read 5 tweets
@RI_News_Alert @FTSERussell @ecmilburn (in order to meet #ParisAgreement targets) we need to drasticly reduce the way we live, the way we consume energy, says Sylvain Chateau, Senior Dir., Head of Sustainable Investment Product Management @LSEGplc @Beyond_Ratings

#webinar #climate #fixedincome #sustainablefinance
@RI_News_Alert @FTSERussell @ecmilburn @LSEGplc @Beyond_Ratings the huge impact of #ClimateRisk on Government finances and expenditure being explained by Sylvain Chateau @LSEGplc @beyond_ratings

#webinar #climate #fixedincome #sustainablefinance
Read 12 tweets
Delighted to be re-appointed by the PM as Minister for Pensions + Financial Inclusion.

We’ve already achieved a lot, but there is lots more to crack on with.

Top priorities are the #PensionSchemesBill thru @HouseofCommons
+ continuing progress on #ESG
Our Bill will reach @HouseofCommons around Easter + will

👉 Introduce Pensions Dashboard so you can see all pension pots in one place
👉 Require schemes to take account of climate risks + disclose investment chain
👉 Establish #CDC's
👉 Give the Regulator enhanced powers 2/
At the same time we continue to
-support the savings revolution that is #AutomaticEnrolment
-There are now over 10.5 million people in the UK saving 8% a year, with thanks to the over 1.5 million employers big and small who support their staff with #AE contributions 3/
Read 5 tweets
Good to see Brunel pension fund telling asset managers that #ESG / #climaterisk investing matters - they have my full support.…
I shall be answering questions on investment policies of occupational pension funds and #ESG / climate risk / future #TCFD actions at 2:30 today in @HouseofCommons - see Q1+3:…
My recent @Telegraph article on this issue of #ESG / #climaterisk + the power of pensions to help get us to net zero…
Read 3 tweets
Agree with #MarkCarney that #PensionFunds must change invest strategy to combat #climatechange#netzero...but UK is +can
-change investment practices
-drive diff behaviour by companies
- finance a green industrial revolution
-continue to sustain DB /DC pensions
Thread on how:1/
Firstly, there are law changes and disclosure practices to drive behavioural change to climate friendly investment.This is already happening:
- With UK Govt 1/10/19 #Environmental Regs (#ESG Regs)
- plus action in parliament:… 2/
The Task Force on Climate Related Financial Disclosures (#TCFD) needs to do more:
- we need fuller #disclosure of #climaterisk/management of climate risk policies worldwide + in UK: this is a work in progress, but a lot has been done:see June 19 report 3/:…
Read 8 tweets

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