Beehive Climate’s Post

🌍 What’s Next for Corporate Climate Disclosure? As the world continues to confront the pressing realities of climate change, the role of corporate climate disclosure has never been more critical. 🌱 Transparency in how companies impact the environment is not just a regulatory requirement but a moral imperative. 🔍 Why It Matters: Informed Decisions: Investors, stakeholders, and consumers are increasingly prioritizing sustainability. Transparent disclosures allow them to make informed decisions aligned with their values. Reputation Management: Companies that lead in climate disclosure are often seen as innovators and leaders in corporate responsibility. Regulatory Compliance: With evolving regulations worldwide, staying ahead of disclosure requirements can safeguard against legal and financial risks. 🚀 What’s Next? Enhanced Reporting Standards: We can expect tighter, more comprehensive standards for climate reporting. These will likely include more detailed metrics on carbon footprints, water usage, and biodiversity impacts. Integration with Financial Reporting: Climate disclosures will increasingly be integrated into financial statements, reflecting the material risks and opportunities posed by climate change. Technology and Innovation: Leveraging AI and blockchain for real-time, accurate climate data will become the norm, ensuring greater accuracy and reliability. 👥 Join the Conversation: How is your organization preparing for the future of climate disclosure? What challenges and opportunities do you foresee? Let’s share insights and strategies to drive meaningful change.

The newly introduced Australian Sustainability Reporting Standards have sparked a sudden influx of advisory firms claiming expertise in climate risk and opportunity assessment. However, recently we’ve had numerous clients tell us that their previous advisors, while understanding the regulatory requirements, lacked the technical know-how for rigorous and compliant climate risk assessment and scenario analysis. Aligning with these standards can be a complex and technical process. When searching for an advisor, it’s crucial to ask the right questions to gauge their technical capacity and experience. Here are some tips to help you choose wisely. Edge Impact https://lnkd.in/gx9FE6fe

🇨🇭Gearing up to meet new mandatory climate disclosure requirements in Switzerland? Join us for the Swiss Climate Reporting Forum 2024 (SCRF) to build the capabilities to gain a market advantage. 🌍 https://lnkd.in/e3FTzuQG Follow the link to learn more and secure the last remaining early bird tickets for May 17th in Zurich, where SCRF co-organisers CelsiusPro and Pelt8, alongside experts from leading organisations, will run a unique event covering all pillars of the FSB Task Force on Climate-related Financial Disclosures (TCFD) recommendations. 🌱 🌿 🔹 Clear Governance & Strong Cultural Foundation as Key Success Factors of Your Sustainability Reporting Journey - Led by BearingPoint 🔹 Climate Risk Management: Identifying and Assessing the Financial Impact of Climate Risk - Led by CelsiusPro 🔹 From Scope 3 Reporting to Stakeholder Engagement - Led by Pelt8 🔹 Integrating Climate Reporting into Communication while Mitigating Legal Risks of Greenwashing - Led by FGS Global and Walder Wyss Ltd. 🔹 Navigating the Decarbonization Journey: Building a Credible Net Zero Pathway - Led by KPMG 🔹 Strategic Climate Intelligence: Aligning Business Strategy with Climate Risk Insights - Led by CelsiusPro 🔹 Sustainable Investment and Role of Finance from a Practical Lens - S&P Global 🔹 Technology as an Enabler to Sustainability - Led by Pelt8

Very interesting exchange today with Pascal Canfin who shared with us his priorities regarding ESG and sustainability regulations : 1. Transparency : will be reached through a taxonomy regularly reviewed based on technological progress 2. Transition plans : should be science-based and associated with credible investments 3. Risks : controling climate change risks will rely on capital and solvency requirements

I had the opportunity to attend the Swiss Climate Reporting Forum 2024, organized by GreenBuzz Zurich. Special thanks to Enterprise for Society Center (E4S) for facilitating my attendance as part of my master’s thesis on #CSRD and #SMEs. Here are some key takeaways that I found valuable: 🌡️ Current policies are leading us towards a 2.5-2.9°C increase in global temperatures. Achieving the 1.5°C target is becoming increasingly unlikely, with only 7 years left to make drastic changes. 🌍 International coordination challenges remain difficult, highlighting the need for improved global collaboration. 🌐 Economic development is a priority for all countries. Therefore, creating an environment conducive to private sector investment is crucial for mobilizing the necessary climate finance. 📚 Sustainable change must start from within, particularly through education, to become a natural part of society. 📝 Regulatory compliance should be viewed as an ongoing strategic process rather than a mere checkbox exercise. 🔧 There is no one-size-fits-all solution for sustainability reporting. Tools must adapt to users' varying levels of IT expertise and the increasing data demands (e.g., CSRD). 🤖 Anything that can be automated will be. Embracing automation is essential for efficiency and accuracy in sustainability reporting. 📊 Companies already using ESG standards like GRI are well-positioned to transition to ESRS reporting due to their high interoperability. 📈 Obtaining better data is an ongoing journey that enhances business decision-making over time. 💰 While sustainability reporting is costly, involving data collection, team assembly, and report generation, it provides crucial information for companies, financial actors, and shareholders. 💪 Elisabeth Stern, a member of Klimaseniorinnen, emphasized the importance of continued activism for climate protection, regardless of age.

🌤 Climate risk modelling is critical for understanding how environmental changes affect enterprises and investments, especially in terms of Environmental, Social, and Governance (ESG) concerns. 🎡 This model uses advanced data analytics to forecast climate-related disruptions, such as extreme weather events, which can have an impact on operational stability and financial performance. 👉 Key Aspects: Physical risks: Physical Risks include direct effects of climate change, such as floods and droughts, which can disrupt supply networks and destroy assets. Transition Risks: These are the risks associated with the transition to a low-carbon economy, such as policy changes or market adjustments that affect fossil fuel reliance. 🌤 Climate risk modelling integrated with ESG frameworks enables organisations to make more informed decisions, hence increasing resilience and sustainability. Companies can match their strategy to long-term sustainability goals by recognising weaknesses and opportunities for adaptation.

[CLIMATE RISKS] There is a growing demand for companies to provide information on physical climate risks through corporate reporting. Several regulatory frameworks and disclosure systems are encouraging businesses to assess and report on these risks: 🇪🇺 The European Taxonomy encourages companies to disclose information related to mitigation and adaptation efforts, identifying 28 specific climate risks (see picture) The CDP questionnaire asks companies to provide details on risks that could have a substantial financial or strategic impact on their operations. The #CSRD (Corporate Sustainability Reporting Directive) requires a description of the processes used to assess climate-related impacts (by asset), risks, and opportunities, as well as the mitigation and adaptation policies, actions, and resources allocated for addressing climate change. Companies are also expected to disclose the potential financial effects of: - Significant physical climate risks - Material transition risks - Climate-related financial opportunities Additionally, the assessment of climate risks is typically based on two scenarios: RCP8.5, representing a pessimistic "business as usual" trajectory. RCP2.6, an optimistic scenario assuming strong emission reduction efforts. These reporting requirements aim to increase transparency and enhance the integration of climate risks into corporate strategic decision-making. At dss+ we we would like to support you beyond reporting, in implementing decarbonization plans and adapting your business strategy to these risks. Please for any question, reach me! Walter Booysen Gerhard Bolt Ali Assy Laura Chovelon