Date:
October 27, 2021
Time:
2:00 - 3:00 p.m. EDT
11:00 a.m. - 12:00 p.m. PDT
Location:
This webinar will take place online through the GoToWebinar platform.
The Imperative
Environmental, Social, Governance (ESG) has become an important strategic issue for global financial institutions triggered by Climate change, as concern grows about lending to, investing in, or insuring companies that are failing to take steps to transition to a low-carbon economy, as well as manage social obligations for sustainability and business resilience. Code Red has been declared for Climate risk and the need to tackle it with highest urgency is obvious.
Huge investments are moving to ESG funds through commitments worldwide. Greenwashing is a big concern for both investors and regulators as many of the processes for ESG monitoring and reporting are still evolving.
Regulations, Disclosures and Regulatory scrutiny
Regulators worldwide are setting directions for disclosures from firms on their processes to meet net-zero, through SFDR (Sustainable Financial Disclosures Regulation) and others, to inform and help investors scrutinize balance sheets on climate change impacts, steps being taken to help with reduction in temperatures as well as to understand the material risks both financial and non-financial that they face due to physical risks and transition risks.
SEC’s Division of Corporation Finance has issued comment letters to individual companies about climate change disclosures in their most recent Form 10-K filings to understand the progress being made in meeting climate change goals.
How to Establish the Practice
Establishing the governance processes by setting up ESG goals, defining policies and procedures, assigning responsibilities, conducting impact and progress risk assessments, gathering metrics on various aspects of the climate and social impact and ensure progress in meeting climate and sustainability goals are necessary for senior management and boards to establish, have visibility to progress being made and provide proper disclosures. Auditable disclosures will be necessary to help with regulatory and investor scrutiny as well as ESG Ratings.
Why is it urgent
Code Red has been declared for Climate Risk and Corporates have to take and show urgent steps to not just commit but also show improvements in the direction of Net Zero. Investor sentiment is quickly shifting from organizations that pose climate risk to green and socially responsible organizations. Transition Risks can be costly and adaptation to new processes rapidly will also involve proper risk management. Regulators will be scrutinizing disclosures for actual steps taken. ESG Rating agencies and their ratings can drive investor sentiment. Time for action is now.
Key Takeaways
- The multiple aspects of ESG, regulatory and investor expectations, disclosure frameworks, and regulator focus
- What boards and senior management of corporates need to establish for governance, risk management and disclosure processes
- How to establish the ESG processes through technology
|
Speakers
|
|
|
|
|
|
 |
|
Dr. Bob Mark, Regional Director, PRMIA, San Francisco
|
|
| |
|
|
|
 |
|
Mona Dajani, Global Co Head of Energy, Infrastructure, Mobility, Renewables & Water, Pillsbury Winthrop Shaw Pittman LLP
|
|
| |
|
|
|
 |
|
Allan Cuttle, Managing Director, CAPCO
|
|
| |
|
|
|
 |
|
Laxmi Ramanath, Founder and CEO, La Meer Inc. |
|
| |
|
|
|
 |
|
Vishal Parikh, VP Cybersecurity, Tech Mahindra |
|
| Continued Risk Learning Credits: 1 |
PRMIA Continued Risk Learning (CRL) programs provide you with the opportunity to formally recognize your professional development, documenting your evolution as a risk professional. Employers can see that you are not static, making you a highly valued, dynamic, and desirable employee. The CRL program is open to all Contributing, Sustaining, and Risk Leader members, providing a convenient and easily accessible way to submit, manage, track and document your activities online through the PRMIA CRL Center. To request CRL credits, please email [email protected].
This event is FREE for members and non-members, although registration is required. Click "Register Myself" below to reserve your spot. Make sure to click "Continue" to proceed with your registration. (If this is your first time accessing the PRMIA website you will need to create a short user profile to register.) Support chapter events like this by becoming a member.