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Recent months have seen major moves on climate action by some of the world’s largest private banks, including JPMorgan Chase, HSBC and Morgan Stanley. Looking across their investments in different sectors and regions, more banks are considering how to reduce the carbon intensity of entire portfolios over time.
The organizations that comprise the infamous alphabet soup of reporting frameworks and standards each provide their own approach to the reporting of sustainable value creation and disclosure of climate-related risks, which makes deciding what reporting-related certification to pursue incredibly difficult.
And then there are “sub-systemic” shocks, more localized climate-related impacts that “can undermine the financial health of community banks, agricultural banks or local insurance markets, leaving small businesses, farmers and households without access to critical financial services.” Sub-systemic shocks.
We’re also excited to have a growing corps of advisory board members and sponsors, including from Citi, CDP, ERM, HP Inc., Tower of Babel. What spurred us to launch the summits back in 2019 was the realization that these parties weren’t always speaking the same language or understanding one another’s needs. It’s still the Wild West out there.
Just one year ago, a European Central Bankreport, which addressed how the European banking sector manages climate and environmental risks, found that most banks do not have concrete plans to start preparing for climate change. The question is: How soon will this change? Changing ESG Landscapes.
Only company in Southeast Asia and Hong Kong to score double 'A's in 2019 CDP Global A List for corporate climate action and water security ? CDL was also the only company in Southeast Asia and Hong Kong to score double 'A's in the 2019 CDP Global A List for corporate climate action and water security.
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