Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Managing Climate Risk, Enhancing Climate Action

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.”

“While the report is primarily aimed at identifying and managing climate risks, it also provides a basis for measuring the impacts on greenhouse gas emissions from investment, lending and insurance. What gets measured and put into the public domain gets managed. The value of this framework is in being able to hold financial institutions to account, as well as assessing risk.”

“Without analysis, the reports will be of limited use. They will be relevant and powerful when they are used as a basis for comparison with financial competitors, related to good practice and as a basis for financial decisions. Mindful Money will develop its current online platform to build in comparative data on management of climate risk, climate impacts and climate resilience for retail investors.”

“The TCFD is a foundation for performance measurement. Mindful Money will work with partners to use the disclosures as a driver for informed choice by investors. Market dynamics will reward the leaders and incentivise the laggards to up their game.”

“While the reporting of climate risks is important, it calls into question why financial institutions are not also being required to report on other non-financial risks and impacts. For example, annual surveys of the New Zealand public show that investors in KiwiSaver and investment funds are also concerned about their funds being invested in companies that repeatedly violate labour standards, indigenous people’s rights and human rights. Similar processes to TCFD are required for reporting on management of risks related to international norms such as human rights.”

 

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On Australia's Superior Ways Of Communicating About Its Vaccine Rollout

It isn’t only on the cricket field that Australia performs better. The clarity and degree of detail in Australia’s published schedule of the priorities for its vaccine rollout has been very impressive. Here for instance, is their initial “1a” top priority category: Quarantine and border workers, including: staff at entry points to the country (such as sea ports and land borders)... More>>


 

Joint Press Release: Dirty PR Exposed In Whale Oil Defamation Trial

Three public health advocates are relieved that their long-standing Whale Oil defamation trial against Cameron Slater, Carrick Graham, Katherine Rich and the Food and Grocery Council has finally concluded and they are pleased that the truth has come out... More>>

ALSO:


Government: Next Stage Of COVID-19 Support For Business And Workers

The Government has confirmed details of COVID-19 support for business and workers following the increased alert levels due to a resurgence of the virus over the weekend... More>>

ALSO:




Government: PHARMAC Review Announced

The Government is following through on an election promise to conduct an independent review into PHARMAC, Prime Minister Jacinda Ardern and Health Minister Andrew Little announced today... More>>

ALSO:



Government: Balanced Economic Approach Reflected In Crown Accounts

New Zealand’s economic recovery has again been reflected in the Government’s books, which are in better shape than expected.
The Crown accounts for the seven months to the end of January 2021 were better than forecast in the Half Year Economic and Fiscal Update (HYEFU)... More>>


Covid-19: Auckland Back To Alert Level Three After One New Community Case Revealed

Auckland will move to alert level three for a week at 6am tomorrow morning after two new Covid-19 community cases announced this evening could not be directly linked to earlier cases, the Prime Minister has confirmed.
The rest of the country will move to level two.... More>>

NZ Initiative: New Report Highlights How Our Housing Crisis Could Worsen If We Don’t Act Now

If New Zealand politicians thought the housing crisis in 2020 was bad, the worst is yet to come, warns a new report by The New Zealand Initiative. In The Need to Build: The demographic drivers of housing demand , Research Assistant Leonard Hong ... More>>

Parliament: Kiwi MPs Among The “Most Educated In The World”

New analysis of MP qualifications reveals New Zealand’s Parliament is one of the most educated and highest qualified in the world, and significantly more educated than Australia’s. The research, by Mark Blackham of BlacklandPR and Geoffrey Miller ... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels