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Emma Herd, CEO of the Investor Group on Climate Change (IGCC) has said that Australia must learn from regulators in New Zealand and Canada who have shunned voluntary guidance on climate disclosure in favour of mandatory regimes.
Herd’s comments come on the back of a new report, ‘Full Disclosure: Improving Corporate Reporting on Climate Risk’, from IGCC - an Australian-New Zealand investor coalition whose members manage more than $2trn and include major asset owners like AustralianSuper, First State Super and QBE Insurance Group. The paper has been written with climate risk consultancy firm Energetics, and pools the views of 50 investors from 22 organisations about the current status of corporate climate disclosure.
Herd said there was a strong view that a consistent approach to climate risk and scenario analysis was …