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The SEC’s Time To Act
A New Strategy for Advancing U.S. Corporate and Financial Sector Climate Disclosures
February 19, 2021, 5:00 am Getty/CQ-Roll Call Inc./Bill Clark
A flag flies outside of the U.S. Securities and Exchange Commission building in Washington, D.C., July 2020.
Julia Cusick
Introduction and summary
Climate change poses major risks to U.S. companies, the domestic economy, and the planet. Those risks include the loss of jobs. The 2008 financial crisis resulted in the loss of more than 8 million jobs,
1 and the cumulative job losses from future climate-driven financial impacts could be even larger.
2 With many climate risks such as hurricanes and wildfires already materializing, investors, regulators, and the public need better information to evaluate the risks to companies and the financial system and take appropriate action in response.
Risk.net
Latest job changes across the industry
David Horner
David Horner has been appointed as the new chief risk officer (CRO) at LCH, taking over from
Dennis McLaughlin. McLaughlin becomes group head of financial risk at the London Stock Exchange Group, majority owner of LCH.
Kate Birchall has been named head of LCH sales.
The appointments follow the hiring of Balbir Bakhshi from Deutsche Bank as LSEG’s new CRO. Bakhshi joined the group in January.
Horner began in his new position on January 4. Based in London, he reports to Isabelle Girolami, chief executive of LCH Limited, the group’s London entity.
Global market regulators have thrown their weight behind plans for a new international standards body for company disclosures on climate risks and sustainability, saying it would cut the scope for so-called greenwashing.