{"id":2922,"date":"2022-12-13T23:32:40","date_gmt":"2022-12-13T23:32:40","guid":{"rendered":"https:\/\/ccgclimat.com\/en\/?p=2922"},"modified":"2022-12-15T00:57:23","modified_gmt":"2022-12-15T00:57:23","slug":"the-role-of-financial-institutions-in-the-fight-against-climate-change","status":"publish","type":"post","link":"https:\/\/ccgclimat.com\/en\/2022\/12\/13\/the-role-of-financial-institutions-in-the-fight-against-climate-change\/","title":{"rendered":"The role of financial institutions in the fight against climate change"},"content":{"rendered":"\t\t
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Climate change context<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In a world with a changing climate and increasingly frequent and impactful climate hazards, financial institutions have a critical role to play in accelerating the climate transition<\/b>. By taking part in climate action through initiatives while integrating climate risks<\/b> into their business strategy, financial institutions have the power to anticipate the impacts of climate change by adapting to new realities and bringing different industries together.<\/b> This includes putting in place robust governance to integrate these climate risks and link them to financial risks and potential market opportunities.<\/p>\n

Disclosure frameworks such as the Task Force on Climate-related Financial Disclosure (TCFD)<\/a> and the Task Force on Nature-related Financial Disclosure (TNFD)<\/a> are tools for addressing climate change in financial and non-financial reporting<\/b>. The proposed methodology encompasses four essential pillars of an organization: governance, strategy, risk management, and setting targets and progress measures. In addition to being a benchmark, the TCFD is becoming the standard in terms of disclosure <\/b>and meets all market expectations.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Taking part in collective action<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In order to accelerate the transition, many international initiatives and tools have emerged to engage financial institutions and encourage them to make public commitments. In addition to helping them take part in the transition, these initiatives help define decarbonization strategies<\/b>, guide institutions and regulate the market<\/b>. For example, through knowledge sharing and best practices, committing institutions are required to set science-based targets<\/b> for their greenhouse gas emissions, including all Scope of emissions, in the medium and long term.<\/p>\n

These initiatives for financial institutions include:<\/p>\n