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How can we finance climate adaptation? Nature-based solutions to the Americas climate change risks
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The concepts of natural capital and nature-based solutions are gaining attention in the global capital markets, as public and private sector issuers consider ways to finance projects to enhance their physical asset resiliency to climate change or support reforestation and native species regeneration.
While these forms of sustainable debt are well suited to financing diverse adaptation and resiliency activities, the volume of issuances to date is still low, when considering that just five per cent of the proceeds from green, social or sustainability bond issuances in 2020 went to sustainable land use projects, compared to 85 per cent directed to the categories of energy use/efficiency, green buildings and clean transport
That is the title of SM Prime Holdings Inc.’s first-ever integrated report presented during its annual stockholders meeting last week. According to SM Prime President Jeffrey Lim, the Integrated Report 2020 translates the listed company’s business cycle into a concise, thorough, and transparent document combining both financial and non-financial information into one report.
“It highlights how SM Prime remains productive even through times of crisis by keeping our businesses stable, supporting our partners, and continually contributing to nation-building,” he said at the virtual meeting. In previous years, the firm’s annual financial report was published separately from its sustainability report that adheres to the Global Reporting Initiative (GRI) standards.
U S family businesses outpace big business on ESG accountingtoday.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accountingtoday.com Daily Mail and Mail on Sunday newspapers.
Updated SASB bulletin outlines climate risk reporting specifics by industry
SASB released an updated Climate Risk Technical Bulletin earlier this week to help companies better understand how they can disclose climate risk in a manner that would provide investors with helpful information.
SASB’s standards divide companies into 77 industries and provide industry-specific ESG reporting suggestions, based on financial materiality. As part of this latest review, SASB finds that 68 of the 77 industries are significantly affected in some way by climate risk, totaling 89 percent of the market capitalization of the S&P Global 1200.
‘Climate change is ubiquitous,’ says David Parham, director of research projects at SASB. ‘You can’t diversify away from the risk, so you need to understand how those risks manifest and how they can be responded to. That’s why it’s important to have the data to understand how companies are managing that risk and identifying exactly what it is.’