ASTM International’s Post

Environmental assessment, risk management and corrective action committee (E50) has developed a new standard guide for environmental, social, and governance (ESG) disclosure related to climate and community. The goal of ESG is to capture all the non-financial risks and opportunities inherent in a company’s day-to-day activities. “The new standard will assist users in understanding and navigating the complex landscape of ESG disclosures undertaken both on a voluntary basis and to meet regulatory requirements,” says ASTM member Eileen Snyder. #environmental #riskmanagement #climate #ESG

Happy to share an important and recent research report by IFC on promoting interoperability across environmental and social risk management frameworks. This research contributes to global objectives to seek alignment of sustainable finance regulations and standards on E&S risk management. This is critical to ensure their effectiveness and avoid greenwashing. This publication was developed in collaboration with the Equator Principles Association (EPA). The report and tools can be accessed at www.ifc.org/ifceutaxonomy. #ifc #sustainablefinance #impactinvesting

On August 8, SynTao dropped by to provide a Climate Risk Management Workshop for our management team and ESG committee. Specially customized for Yangzijiang Shipbuilding, it set the foundations for a more holistic integration of sustainability and ESG initiatives into our daily operations.  In addition, they reviewed our current efforts on greenhouse gas emissions and provided guidance on our ESG targets with reference to Science Based Targets initiative as well as training on FSB Task Force on Climate-related Financial Disclosures (TCFD) reporting. This Climate Risk Management Workshop is not just a training initiative; it serves as a catalyst to cultivate sustainable practice awareness within our management team. Through such a program, we hope to facilitate a Group-wide top-down shift in mindset and promote green operations concepts throughout the team. #yangzijiang #sustainability #maritime #globalshipping #shipbuilding #transport #technology #ESG #education #GHGemissions 

Thank you very much CDP for organising the course on 'Understanding the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). The course provided good insight into the recommended disclosures under the four core elements. In a nutshell: Governance: Disclose the organisations governance around climate risks and opportunities. This includes describing the board's oversight of climate related risks and opportunities as well as management's role in assessing and managing risks and opportunities. Strategy: Disclose the actual potential impacts of climate-related risks and opportunities on the organisation's business strategy and financial planning. Risk Management: Disclose how the organisation identifies, assesses and manages climate-related risks including integrating these risks into the organisation's overall risk management. Metrics & Targets: Disclose the metrics and targets used to assess and manage relevant climate related risks. This includes disclosure of Scope 1, Scope 2 and, if available, Scope 3 GHG emissions as well as targets used by the organisation to manage the climate related risks. #climatechange #GHG #carbonemissions #TCFD #riskandopportunities #sustainability #sustainabilityreporting

Q&A with Andie: Weather & Climate Risk Management   This article is the first in a question-and-answer series where we provide a practical overview of an area of U.S. law. In coming weeks and months, ASKramer Law will host small discussion groups for senior business leaders who want to delve deeper into related topics.   2023 was the hottest year on record. Policymakers and government agencies are responding. Companies seek to become climate-resilient, renewing their ESG efforts, and updating their reporting and compliance obligations. Against this backdrop, detailed attention to the management of climate-related risk is becoming critical across many industries.   In this original four-part series, we take a closer look at the following areas: Part I: Management of Weather & Climate Risks Part II: Weather Risk Management Products Part III: Regulation of Weather Risk Management Products Part IV: Taxation of Weather Risk Management Products (Parts II, III & IV will come out on March 19, 21, and 26, respectively.)   If you would like further information, please reach out to the firm at https://lnkd.in/ebZwGeeb. https://lnkd.in/ek_tSgZb

Designed by governance, climate-risk and policy experts for board directors and legal and business professionals, this unique new OsgoodePD Certificate is the only program of its kind to upskill in the critical area of ESG and climate risk. Learn more: https://bit.ly/3zo0b0m

Check out our latest blog about Environmental Remediation with Douglas Reid, P.G. (NY), Senior Vice President of LCS Environmental Services with over 27 years in environmental risk management. He provides insights as to how Remediation Services offer an advantage to clients who are looking to back an impacted property. #environmentalconsulting #smarterlending

Within the Environmental and Social Management System (ESMS) framework an E&S (environmental and social) risk register is a significant document. Because an E&S risk register lists all of the environmental and social risks a company faces. It includes information on the nature of the risk, its likelihood and impact, and the controls in place to manage it. Find below the several benefits of having an E&S risk register.

The environmental agenda has become central to many aspects of business planning and risk management, but climate is far from the only environmental challenge facing companies. Our report sets out the channels through which companies are exposed to nature-related risks and opportunities, the road ahead, and key questions companies should be asking to ensure they are on top of this emerging issue.