IIGCC urges TCFD to do more for comparable climate data

first_imgThe Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) should strengthen its recommendations relating to the standardisation and comparability of data, according to the Institutional Investors Group on Climate Change (IIGCC).However, the group believes the draft report represents real progress toward harmonisation and wider adoption of climate disclosure.In an overview of its submission to the TCFD’s recent consultation, IIGCC said the task force’s recommendations represent “a vital step forward in global efforts to drive harmonisation of climate-related disclosure”.It welcomed several aspects of the draft recommendations, but also made suggestions for improvements to the framework the TCFD has proposed. It said that “the number one requirement” for asset owners and managers to be able to clearly disclose how they address climate risk across their portfolios “is for them to have more complete, meaningful, reliable and consistent data across companies and sectors”, but warned this is not yet the case.IIGCC suggested the TCFD’s proposed framework would leave it up to each organisation to select the metrics they want to use to assess climate-risks and opportunities.This could work against consistency in financial filings over time, which could hinder comparability, and may encourage companies to evade robust disclosure until specific reporting metrics are required by financial regulators, according to the group.The Task Force presented its draft recommendations on climate-related financial disclosures in December, with a 60-day consultation running until 12 February.The recommendations addressed disclosures by companies as well as investors.One of the TCFD’s key recommendations was for companies to disclose a climate change scenario analysis. Stephanie Pfeifer, CEO of IIGCC, said “our members back this as an important form of risk assessment”.IIGCC also called for a standardised ‘best practice’ approach employing a two-degree scenario with commonly determined (and disclosed) assumptions and procedures.This would help “normalise the use of such analyses and improve the comparability of the outcomes and costs they show,” according to the group. It also called for several key reinforcements to the task force’s recommendations on corporate disclosure.One of these is that companies should be tasked to disclose which climate-related risks and/or opportunities they consider financially immaterial regardless of whether these are identified as potentially material by investors, regulators, or other key stakeholders.   The IIGCC also called for additional disclosures under the TCFD’s framework:board-level expertise on climate risk;whether or not remuneration at board and management level reflects climate-related performance; and“the processes used by the board member responsible for climate policy to ensure consistency between public policy positions adopted by the company and any trade associations to which it also belongs”.With respect to the TCFD’s guidance for reporting by investors, IIGCC called for this to cover more asset classes than just equities.Pfeifer emphasised the importance of the TCFD’s final recommendations being fully implemented: “Following on from the letter we sent to heads of state last September, IIGCC urges the G20 to show leadership during the German 2017 presidency on implementation of the TCFD’s recommendations, as well as the evolution of climate disclosures going forward.”last_img read more

Fatal Crash Kills 2 and Sends 4 to the Hospital in Mio

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisTwo people are dead and 4 were injured after a car crash occurred in Mio over the weekend. According to the Oscoda County Sheriff’s Office, the deadly accident happened on M33 north of Mio on Friday, September 15th around 2:30 pm.A grey 2008 Ford Escape carrying a 71–year–old man and a 50 year–old woman was headed northbound on M33 when it crossed into the path of oncoming southbound traffic colliding with a red Dodge pickup.The pickup was carrying 4 men ages 22, 47, 64, and 28. The two occupants from the Ford Escape were pronounced dead on the scene.The 4 occupants inside of the Dodge pickup were all transported by the Oscoda County EMS to Grayling Munson Hospital with incapacitating injuries.As of right now no names have been released until all family members are notified.The Oscoda County Sheriff’s Office and the Oscoda County EMS were assisted by the Tri-Town Fire Department and the Michigan State Police Alpena Post.The accident is still under investigation. Excessive speed does not seem to be factor, but seat belt use is still being determined… AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: Fatal AccidentContinue ReadingPrevious 4th Annual Thunder Bay Folk FestivalNext Senior Expo Coming to Alpena Aplex Wednesdaylast_img read more

After Giancarlo Stanton clobbers baseball, Dodgers clobber Marlins 11-1

first_imgThe Dodgers’ rotation has been in a state of flux all season. Hyun-Jin Ryu and Brandon Beachy haven’t appeared in a game as they recover from shoulder and elbow injuries, respectively. Neither is expected back before June at this point. When Brandon McCarthy underwent season-ending elbow surgery on April 30, the arms shortage intensified.Rookie right-hander Carlos Frias slotted into one starting job. He can further solidify that job at 4:50 p.m. Wednesday, when the Dodgers try to sweep the three-game series. It would be the Dodgers’ fourth series sweep of 2015; they swept four home series all last year.Now Bolsinger, whom the Dodgers acquired from the Arizona Diamondbacks for cash last November, seems to have the other job locked up. The right-hander was officially recalled from Triple-A Oklahoma City on Tuesday afternoon. Unlike the last time he was recalled from the minors, Bolsinger probably doesn’t have a return flight booked.“We’re still sitting with one less player and one extra bullpen guy, so we still have things to do, but yeah,” Mattingly said. “We know that we’re running out of off days, that time of year when every five days somebody’s going to have to post up. We’re pretty much getting there.”Said Bolsinger, “It gives you a little confidence when they start believing in you, the team and the guys, so I’m happy. Things are going well right now. I’m locked in right now. We’ll see where it goes from there.”Yasmani Grandal has caught both of Bolsinger’s major-league starts this season. The catcher said Bolsinger’s slider control was better this time around, even to the surprise of the Marlins.“I think the fact that he came up and went back down and nobody really saw him in between, and then he came back up, kind of helped because the scouting report is not around,” Grandal said. “They had no clue he was throwing a slider right now. That’s what Michael Morse said — ‘Does he throw a slider?’ I’m like, ‘Yeah.’ They’re like, ‘Oh, they were telling me in there it was a curveball.’”Bolsinger retired nine outs via ground balls, eight in the air and three via strikeout. Stanton’s home run was the only blemish on Bolsinger’s record. The rest of the game was all Dodgers.Their 21 hits were a season high. Two cleared the fence — Howie Kendrick’s fourth home run of the season in the third inning and Andre Ethier’s fifth home run of the season in the fourth.Ethier tied a career high with five hits in five at-bats. Kendrick had four hits and Alex Guerrero and Scott Van Slyke had three each.Haren (4-2) was charged with 11 hits and six runs in 4 1/3 innings in his first game against his former team. The Dodgers dealt Haren to Miami in December, part of a three-team trade that brought Kendrick to the Dodgers from the Angels. • Video: See Vin Scully’s call on Stanton’s home runSo while it seems anyone can win a game for the Dodgers these days, manager Don Mattingly promised he will not give the ball to any old bum off the streets of Oklahoma City. Bolsinger (1-0) was not chosen for Tuesday’s start because the Marlins were a good matchup for the 27-year-old right-hander, although ultimately they were. He allowed five hits and only one run in 5 2/3 innings — an identical line to his only other start for the Dodgers, back in April.Mattingly indicated that Bolsinger was chosen because he has a chance to be the Dodgers’ fifth starter for a while.“We’re past the point where we can pick a lefty for this spot knowing that we’re going to switch the next day, pick a righty for this team because we know we’re going to switch the next day,” Mattingly said. “We’re past the switching-the-next-day point. He’s the guy at this point getting the opportunity to try to stay around.” It almost doesn’t matter who pitches for the Dodgers at home anymore. When you can pay the opposing starter his entire salary and still win 11-1, as the Dodgers did to Dan Haren and the Miami Marlins on Tuesday, the game does not seem fair.This time, Mike Bolsinger was tasked with winning a game at Dodger Stadium. Few tasks in baseball have looked easier in 2015; the Dodgers have won 15 of their first 17 games at home. Bolsinger was even generous enough to spot Miami the longest home run hit by anyone this season, a 483-foot blast off the bat of Giancarlo Stanton in the first inning. That wasn’t nearly enough.• Photos: Dodgers score 11 runs on 23 hits to beat Marlinscenter_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more