x

Climate Change Read

Climate Risk Management and Community Reinvestment in the US: Competing or Complementary Priorities?

Michael Hsu, the acting comptroller of the US Office of the Comptroller of the Currency (“OCC”), unveiled the concept of climate redlining as a new aspect of his agency’s initiative for addressing climate-related financial risks. He recognized an inherent tension between the goals of lending to underserved communities and managing climate-related financial risks.

TCFD: Preparing for Mandatory Reporting

Many UK companies will soon be mandated to make TCFD-aligned disclosures. This follows the Financial Conduct Authority’s (FCA) introduction of the Listing Rules (Disclosure of Climate-Related Financial Information) Instrument in December 2020, which requires companies with a UK premium listing to disclose on a comply-or-explain basis against the Task Force on Climate-related Financial Disclosures (TCFD) recommendations in their annual reports.