A few key initial takeaways from Michael Bloomberg’s appointment as Task Force chair
By Jakob Thomae
Dec. 8, 2015
The Task Force on Climate-related Financial Disclosure (TCFD) is designed to develop guidelines for companies on providing information in financial markets. It was born out of a G20 initiative of Finance Ministers and the leadership of Mark Carney, Bank of England Governor and Chairman of the FSB. We believe there are a few key initial takeaways from the appointment of Michael Bloomberg as Task Force Chair, and its prospective work.
From non-financial companies to issuers. Transition risks are unlikely to be related to a single sector or asset class. In this context, non-financial corporate disclosure is only one piece of the puzzle, with other elements relevant e.g. government, infrastructure, and financial market actors themselves, including banks and investors. Most existing data platforms providing climate-related data to investors do not cover such a broad universe yet.
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