Carbon Tide

Teaching and training on climate & carbon risk, disclosure, pricing, finance, investment, politics and more. Tweets by @graham_caswell

[Carbon Tide @Carbon_Tide]

"Disclosure is coming, and in some markets coming quite soon. Companies have many types of risks that need measuring and understanding from policy risk to reputation. They also have many things to gain from managing those risks". -US Fed Stability Report

https://t.co/gKRaEIAAKe

[Carbon Tide @Carbon_Tide]

Breaking: The US Fed is finally joining the NGFS, meaning that almost the entire world's economy, markets, finance and banking system is now regulated by its members.

Look for mandatory US climate risk disclosure soon, as per @JoeBiden's platform.

[Victoria Guida @vtg2]

Quarles says the Fed has requested membership to the Network for Greening the Financial System, and he expects them to accept.

[Carbon Tide @Carbon_Tide]

Breaking: UK mandatory TCFD

ITV Business and Economics Editor reports that TCFD climate and climate risk disclosure will mandatory from 2025. UK chancellor Rishi Sunak will announce this afternoon...

https://t.co/0BZL54L553

[Joel Hills @ITVJoel]

New: this afternoon the chancellor will announce that UK companies will be forced to begin clearly reporting their impact on the climate, in line with the Task Force on Climate-related Financial Disclosures, by 2025. This is a very big deal. (1/3)

[Ingrid Holmes @IngridHolmes7]

We've been disclosing on climate change for several years now. This is innovative because it's our first TCFD-aligned climate report - and includes metrics https://t.co/XaPSrkARsC

[Carbon Tide @Carbon_Tide]

The EU TEG's landmark final reports on #EUTaxonomy and the #EUGreenBond Standard are out today:

https://t.co/xMCc2QpJrm

[Attracta Mooney @AttractaMooney]

I asked the largest 30+ asset managers how many employees worked in stewardship and ESG jobs. Here’s the answer https://t.co/1i2CGeC7X3

[Positive Money UK 🦋 @positivemoneyuk.bsky.social @PositiveMoneyUK]

Huge win for climate change campaigners this week - the next Bank of England governor has said he will take forward excluding fossil fuels from the Bank of England's QE purchases as "a priority".

Our central bank had been buying bonds from the likes of Shell and BP. #GreenTheBoE

[Network for Greening the Financial System @NGFS_]

"It is also time for central banks to consider climate-related financial risks when implementing monetary policy” – S. Mauderer (Executive Board Member @bundesbank)
▶ Read more: https://t.co/SCzpiWDOOd

[Carbon Tide @Carbon_Tide]

The Australian Prudential Regulation Authority (APRA) has published a letter to all regulated entities outlining its plans to develop a prudential practice guide (by year end 2020) on climate change financial risks aligned with the TCFD recommendations.

https://t.co/k8eBw32Lpa

[Carbon Tide @Carbon_Tide]

The Institute of Chartered Accountants in England and Wales (ICAEW) and other industry groups have called on the Accounting for Sustainability Project (A4S) network (2.5 million professionals worldwide) to integrate climate risk into their company audits.

https://t.co/MDOTR9Xb1t

[Emil Dimanchev @EmilDimanchev]

If this is not a solid argument to extent the MSR withdrawal rate past 2023, I don’t know what is.

Otherwise the #EUETS' future doesn't look good according to this highly credible projection of the CO2 permit surplus (orange line) by @RefinitivCarbon. #CarbonPricing

[Carbon Tide @Carbon_Tide]

"The governor of the Bank of England has warned major corporations that they have two years to agree rules for reporting climate risks before global regulators devise their own and make them compulsory."

https://t.co/3FvIVYZv0T

[Carbon Tide @Carbon_Tide]

@NGFS_ @bankofengland TCFD needs to be mandatory as soon as possible.

[Network for Greening the Financial System @NGFS_]

"Like virtually everything else in the response to climate change, the development of a more sustainable financial system is not moving fast enough for the world to reach net zero" - M. Carney (Governor of @bankofengland)
▶ Full speech: https://t.co/MbzZWE2EeP

[Network for Greening the Financial System @NGFS_]

« It is clear that, as the @NGFS_ has highlighted, climate related risks are a source of financial risk, particularly to the insurance sector » - Ed Sibley (Deputy Governor @centralbank_ie)
▶ Full speech: https://t.co/s3STMmnQIj

[Carbon Tide @Carbon_Tide]

Climate change “will affect the value - in some cases positively, in some case negatively - of every single financial asset”

BoE Governot Mark Carney at the Bloomberg Global Business Forum in NYC last Wednesday.

https://t.co/q0AwoDwos9

[Network for Greening the Financial System @NGFS_]

#NEWS The International Monetary Fund joins the @NGFS_ as an Observer, aiming to 'Green the Financial System' @IMFNews
▶ Learn more here: https://t.co/5yC0NUJzlT

[European Central Bank @ecb]

Working paper: Finance and carbon emissions https://t.co/kd2qY08bmC

[New Zealand Ministry of Foreign Affairs & Trade @MFATNZ]

New Zealand is leading a first-of-its-kind agreement that will use #trade rules to tackle #climatechange and other environmental issues, NZ Prime Minister
@jacindaardern has announced. Details: https://t.co/cC3nSFAsRV 📷: Stephanie Keith/Getty Images

[Carbon Tide @Carbon_Tide]

"Regulatory scrutiny of climate risks has only just begun."

https://t.co/htDbZDqtbg?