Disclosing Climate-Related Financial Risk

Former chair of the US Security and Exchange Commission, Mary Schapiro and Associate Director for Natural Resources, Energy and Science at the Office of Management and Budget, Ali Zaidi discuss the importance of clear and consistent standards for climate-related financial disclosures.

On Monday, October 31, 2016 the Global Energy Center hosted a conversation on the necessity of financial disclosures for public and private interests. In light of increasing regulation from climate change legislation, investors are demanding risk disclosures in order to make rational decisions about where to target stakeholder and taxpayer money. Mary Schapiro, Secretariat of the G-20 Task Force on Climate-Related Financial Disclosures, and Ali Zaidi, White House Office of Management and Budget’s associate director for natural resources, energy, and science discussed the importance of disclosing transition risks for stakeholders. The G-20 Task Force and the US government are furthering the adoption of climate-related financial disclosures on a voluntary basis or through regulatory frameworks, respectively.