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Climate change
The minimum capital requirements for banks are also being reviewed for climate additions.
Significant majority of banks back new release, which includes facilitated emissions, but greener members retain concerns.
It comes after efforts from the Singaporean central bank and GFANZ to encourage phase-out financing.
As final rule rows back significantly on corporate emissions disclosures, big investors express cautious optimism, while others, including SEC commissioner Crenshaw, lament what could have been.
Development of sustainability disclosure standards has forced investors to ‘take a good hard look’ at what is feasible, Morningstar's Lindsey Stewart tells RI.
Former SEC lawyer Kurt Gottschall tells RI that a change in government would bring ‘significant pressure to wipe the climate disclosure rule off the books’.
The scheme says it was not in favour of 'blanket exclusion' on fossil fuels.
The rules largely mirror the TCFD reporting structure, in addition to bank-specific KPIs.
Announcement comes as oil major doubles down on support for legal action against filers of climate proposals.
Acting in concert continues to hinder collaborative engagement as multiple firms engage BaFin, CA100+ over Phase 2 disclosure requirements.