By Dave Aleppo 2020-12-18T12:26:00+00:00
Dealing with climate change is a responsibility we all share – but trustees may be wondering how they get from their starting point to the required end-goal. This ‘carbon journey’ needs a plan.
For pension trustees that are familiar with the concept of a traditional funding journey plan, the creation of what we describe as a carbon journey plan can provide the climate-related equivalent.
For many pension funds, the traditional journey plan objective focuses on full funding (likely with a risk buffer) on a technical provisions, self-sufficiency or buy-out basis.
Similarly, well-defined climate goals have emerged within the international community over the last decade, including the Paris Agreement aim of limiting global temperature increases.
[author: Mark Thomsen]
The world is warming. How will that impact your company’s business?
The macroeconomic costs of climate change and climate-related disasters will continue to rise alongside global temperatures. Individual businesses can expect to experience further interruptions of essential services and supply chains as existing infrastructure buckles under the weight of extreme weather events around the world.
But businesses shouldn’t just be focused on supply chains when calculating the value of their sustainability efforts. Environmentally conscious investors have grown more interested in backing firms that actively measure and audit their environmental, social, and governance (ESG) practices and processes. Regulators are also raising their reporting requirements, furthering transparency into an organization’s environmental impact and mitigation actions. Failure to improve these efforts can do increasing damage to a business’ brand, resulting in lost customers and
IN recent weeks, while the world’s largest glove maker Top Glove Corp Bhd grappled with a Covid-19 outbreak at its staff accommodations in Klang, which led to investigations by the authorities of the group’s operations in five other states, the investor relations (IR) official at another glove company received various enquiries from fund managers seeking assurances that it did not share the same workers’ problems.
Last week, the Ministry of Human Resources opened 19 investigation papers against six companies related to Top Glove for failure to apply for an accommodation certificate from the authorities, which led to the discovery of other offences, including crowded, uncomfortable accommodation and lack of proper ventilation.
This opinion piece is written by Alec Tang, Auckland Council Acting Chief Sustainability Officer.
Cities consume over two-thirds of the worldâs energy and account for more than 70 per cent of global CO2 emissions, so have a critical role to play in meeting our emissions reduction commitment. On top of this, with 90 per cent of the worldâs urban areas situated on coastlines, cities are at high risk from some of the devastating impacts of climate change, such as rising sea levels and powerful coastal storms.
TÄmaki Makaurau Auckland is no different. In fact, with a seemingly indefatigable obsession with automobiles and a push for further growth into areas already at risk to climate impacts, Aucklandâs challenge is one that epitomises the need for a transformational approach to climate action, not simply business as usual with a bit less carbon.
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