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Initiative to guide climate disclosure, resiliency launched
By Gloria Gonzalez
Marsh & McLennan Cos. Inc.’s Global Risk Center and nongovernmental organization CDP Worldwide have launched a new initiative to outline best practices for companies to assess and disclose their climate resiliency.
The announcement comes about one year after the release of the final recommendations of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures, which at the request of the Group of 20 nations released the recommendations to guide companies in assessing the material risks climate change poses to their operations and develop plans to mitigate these risks. The recommendations cover four core elements: governance, strategy, risk management and metrics and targets.
The initiative aims to offer practical guidance to businesses seeking to overcome the so-called “implementation gap” in effectively adopting the task force’s disclosure recommendations, according to a Marsh & McLennan statement on Monday.
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