CPPIB named to climate change task force
CPPIB executive named to Financial Stability Board group.
BY Staff | May 26, 2016
The Financial Stability Board has named an additional nine members, including the Canada Pension Plan Investment Board’s head of sustainable investing Stephanie Leaist, to its task force on climate-related financial disclosures.
The task force was formed in December 2015 to develop a consistent standard for companies making climate-related financial disclosures to provide information to stakeholders. Its aim is to “consider the physical, liability and transition risks associated with climate change” and provide recommendations across industries to encourage firms to “align their disclosures with investors’ needs.”
The task force was originally a group of 22 global members led by Michael Bloomberg. Alongside CPPIB’s Leaist, its nine newest members are:
- Eloy Lindeijer, chief investment management, executive committee at PGGM Investments in the Netherlands;
- Richard Cantor, chief risk officer at Moody’s Corporation and chief credit officer at Moody’s Investors Service in the U.S.;
- Diane Larsen, assurance partner at Ernst & Young in the U.S.;
- Eric Dugelay, global leader, sustainability services at Deloitte in France;
- Jon Williams, partner, sustainability and climate change at PricewaterhouseCoopers in Australia;
- Bruno Bertocci, managing director, head of sustainable investors at UBS in the U.S.;
- Udo Hartmann, senior manager, group environmental protection and energy management at Daimler in Germany; and
- Mark Lewis, managing director, head of European utilities equity research at Barclays Investment Bank in France.
According to the Financial Stability Board, the additional members will supplement the task force as it moves to conclude its consultation phase on May 31. While the first phase was focused on considering the risks of climate change and what effect corporate financial disclosure has in relation to that, the next phase will aim to develop a set of recommendations for “consistent, comparable, clear and efficient climate-related financial disclosures.”
The task force will hold plenary meetings on July 12 and July 13 in New York, on September 13 and September 14 in Paris and on November 15 and November 16 in London.
The task force intends to prepare a final report by the end of the year.