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BlackRock's Larry Fink says “not our place to be telling companies what to do” on climate, and more...

Investment giant BlackRock will continue to view climate risk as an investment risk, according to the firm’s Chairman and CEO Larry Fink’s annual letter to investors released today, that addressed a series of claims by anti-ESG politicians, such as accusations that BlackRock forces companies to reduce emissions, or that the firm “boycotts” energy companies.

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OSFI Announcement

Canada’s financial regulator, the Office of the Superintendent of Financial Institutions (OSFI), announced the release of its new guidelines on climate risk management, setting out requirements for banks and insurance companies to manage and disclose climate-related risks.

The new climate-related reporting requirements for Canadian financial institutions cover disclosure categories including governance, strategy, risk management, and metrics & targets.��They also include reporting of Scope 1, 2 and 3 greenhouse gas emissions, including financed, facilitated and insured emissions, as well as the targets used to manage climate-related risks and opportunities, and public commitments made as part of a Net Zero alliance, such as the Net-Zero Banking Alliance (NZBA), or the Net-Zero Insurance Alliance (NZIA).

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The IFRS's International Sustainability Standards Board (ISSB) has a variety of articles that can be sorted by topics, including Sustainability.

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2023 Canadian ESG Reporting Insights from PwC Canada

PwC Canada��reports over 70 per cent of the country’s 250 largest public companies do not obtain external assurance for their environmental, social and governance (ESG) reports, nor do they disclose climate-related financial information.

In conclusion, it finds they are making slow progress on corporate sustainability reporting.

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