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The Equator Principles is a risk management framework adopted by financial institutions, for determining, assessing and managing environmental and social risk in project finance. It is primarily intended to provide a minimum standard for due diligence to support responsible risk decision-making.
Climate risk insurance is a type of insurance designed to mitigate the financial and other risk associated with climate change, especially phenomena like extreme weather. [ 1 ] [ 2 ] [ 3 ] The insurance is often treated as a type of insurance needed for improving the climate resilience of poor and developing communities.
Corporate social responsibility may cover: A company running its business responsibly in relation to internal stakeholders ( shareholders , employees , customers and suppliers) The role of business in relation to the state (locally and nationally) as well as to inter-state institutions or standards
Climate risk management (CRM) is a term describing the strategies involved in reducing climate risk, through the work of various fields including climate change adaptation, disaster management and sustainable development.
These institutions and money managers collectively controlled $1.72 trillion in assets at the end of 2013. The top categories of environmental and social issues from 2012 to 2014 were political contributions and climate change and environmental issues. [35]
Its conclusions pointed towards the necessity of including considerations of climate change and environmental issues in all financial calculations and that the benefits of early action on climate change would outweigh its costs. [58] The main framework used globally is the Taskforce on Climate-Related Financial Disclosures (TCFD).
In 2015, the FSB created the Task Force in order to develop recommendations of voluntary disclosures for listed companies. However, ahead of the COP26 summit (2021), the UK responded to the clear 'leadership vacuum on climate change governance' [7] to become the first G20 country to mandate 1,300 of the UK's largest private companies to disclose climate-related data in line with the TCFD ...
Climate risk is the potential for problems for societies or ecosystems from the impacts of climate change. [2] The assessment of climate risk is based on formal analysis of the consequences, likelihoods and responses to these impacts. Societal constraints can also shape adaptation options.
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