Laxmi Ramanath CEO of La Meer Inc. will be speaking at the PRMIA webinar on Risk Management of Climate Risk and ESG on Oct 27th 2021
PRMIA San Francisco presents a virtual event: How to Establish the Risk Management Practice to Meet Climate Risk and ESG Goals. Experts will discuss approaches to ESG, Disclosure frameworks, Regulatory scrutiny , Processes needed to be setup in organizations, prevent Greenwashing and a possible way to help through technology.
Climate Risk and ESG have gained Prominence
Environmental, Social, Governance (ESG) has become an important strategic issue for global financial institutions triggered by Climate change, as concern grows about lending to, investing in, or insuring companies that are failing to take steps to transition to a low-carbon economy, as well as manage social obligations for sustainability and business resilience. Code Red has been declared for Climate risk and the need to tackle it with highest urgency is obvious.
Huge investments are moving to ESG funds through commitments worldwide. Greenwashing is a big concern for both investors and regulators as many of the processes for ESG monitoring and reporting are still evolving.
Regulations, Disclosures and Regulatory scrutiny
Regulators worldwide are setting directions for disclosures from firms on their processes to meet net-zero, through SFDR (Sustainable Financial Disclosures Regulation) and others, to inform and help investors scrutinize balance sheets on climate change impacts, steps being taken to help with reduction in temperatures as well as to understand the material risks both financial and non-financial that they face due to physical risks and transition risks.
SEC’s Division of Corporation Finance has issued comment letters to individual companies about climate change disclosures in their most recent Form 10-K filings to understand the progress being made in meeting climate change goals.
Establishing the Process is important
Establishing the governance processes by setting up ESG goals, defining policies and procedures, assigning responsibilities, conducting impact and progress risk assessments, gathering metrics on various aspects of the climate and social impact and ensure progress in meeting climate and sustainability goals are necessary for senior management and boards to establish, have visibility to progress being made and provide proper disclosures. Auditable disclosures will be necessary to help with regulatory and investor scrutiny as well as ESG Ratings.
Please join the event on Oct 27th by clicking on the PRMIA link above. It is a free event and if you are not able to join, you can also receive the recording for later viewing.