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As stated in Business Insider Australia, Australia’s corporate regulator says it will consider “enforcement action” against listed companies which obscure the risks climate change poses to their business or fool investors with greenwashing campaigns.
“We believe climate change is a systemic risk for our financial system. As a result, we have all observed that investors require listed companies to disclose meaningful and useful information to enable the physical and transitional risks of climate change to be priced so that capital can be allocated efficiently.” -Australian Securities & Investments Commission (ASIC) commissioner Cathie Armour
Major companies face significant physical and financial risks by moving the wrong way on climate-sensitive projects, but investor groups also fear Australian firms could lose out on international capital if they don’t take climate risk disclosures seriously. Business Insider Australia
We've said time and again that climate risk is something that should be taken seriously and investing in preventing it should be a no brainer. This is so important that Australia’s corporate regulator is taking action:
Don't wait for your business to face consequences for not taking this responsibility earnestly.
Each company faces its own unique set of physical risks. These can depend on the nature of its business, location of its significant assets, its supply chain, and the dependence of its value chain on conditions affected by climate change. Could you identify each of those hazards an asset is at risk of?
Using historical climate hazard data, EWN's Climatics compares historical risk with present day risk to inform its users of how the probability of an event occurring is changing. Climatics gives you a full overview of all the hazards likely to impact your asset, based on historical data you can prepare for the next 5 years by understanding your current day risk.
You can read the full article here.
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