18 May LONDON IMPACT INVESTMENT FUND ONE OF THE FIRST TO INCORPORATE BLOOMBERG/CARNEY RECOMMENDATIONS TO G20
WHEB, a London-based asset manager published an impact report last week measuring the social and environmental impacts of its Sustainability Fund.
The sustainability specialist is one of the first investors to report using the recommendations from the G20’s Task Force on Climate Related Financial Disclosures (TCFD), led by Bank of England Governor Mark Carney and Michael Bloomberg. The report also quantifies the environmental impact of investments in a novel way, by examining e.g. how many tons of CO2 emissions and tons of waste to landfill each £1 million invested in the fund helps to avoid.
The report is an indication of the influence the TCFD’s final recommendations, set to be released at the G20 summit in July, could have. The recommendations call for all companies to include information on environmental risks in their financial reporting. The hope is that with the backing of the G20 and financial heavyweights like Carney and Bloomberg, even mainstream ‘climate sceptic’ companies and investors will soon be expected to measure and manage the risks they are running as a result of climate change.
Read WHEB’s full impact report here. Find more on the TCFD from IPE and New York Times. Reuters has a recent article on a report funded by some of the world’s largest oil firms that finds (surprise surprise) that climate disclosure is a bad idea.