Finance plays a major role in shaping the world we live in. This is a crucial point given that we live in a time of political and regulatory change; threats such as climate change mean we need to futureproof society, the environment and the economy.
In answer to this challenge, we can enhance our capacity to manage risk, boost green finance and support innovative business models that will make us more resilient to change.
Building on the IEMA Guide on Sustainable Finance, IEMA has been working with members to develop voluntary standards on sustainable finance. As the formal liaison organisation to the International Organization for Standardization's Technical Committee 322 on sustainable finance, IEMA is now at the centre of discussions on the integration of sustainability considerations and environmental, social and governance practices into institutional investment decision-making and wider finance management.
At the UK level, IEMA chief policy advisor Martin Baxter and several IEMA members are continuing to support the development of BSI's PAS 7340, a framework for embedding the principles of sustainable finance within financial organisations. If you wish to find out more about IEMA engagement on sustainable finance standards, please register for the webinar session on 24 July at bit.ly/2KZ8iY6
In a related development, the Task Force on Climate-related Financial Disclosures' (TCFD) 2019 Status Report was recently released, confirming that 785 organisations are now supporters of the TCFD Recommendations Report (up from 513 in September 2018).
IEMA has been working with stakeholders and professional bodies to engage with the private sector on strategies to address potential climate-related risks and opportunities, taking into consideration different scenarios. To find out more about IEMA's engagement, please view our recent webinar on this topic, which is available at bit.ly/2WVCCKA
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