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XDI: Proposed SEC climate risk rules "major step towards more transparent reporting"

Retrieved on: 
Wednesday, March 23, 2022
Risk, DAX, Climate change, CAC, FTSE, HSI, XDI, Nikkei, SEC, Forest fire weather index, Hang Seng Index, STI, U.S. Securities and Exchange Commission, ASX, Hang, Weather, Flood, Risk management, Financial adviser

SYDNEY, March 23, 2022 /PRNewswire/ -- The new U.S. Security and Exchange Commission (SEC) proposal to require companies to disclose their climate risk, including the physical impacts of storms, drought and heat waves, marks a major step towards more transparent reporting, according to climate risk expert Rohan Hamden.

Key Points: 
  • SYDNEY, March 23, 2022 /PRNewswire/ -- The new U.S. Security and Exchange Commission (SEC) proposal to require companies to disclose their climate risk, including the physical impacts of storms, drought and heat waves, marks a major step towards more transparent reporting, according to climate risk expert Rohan Hamden.
  • Under the SEC proposals, adopted on a 3-1 SEC vote, public companies would have to report on the risks to revenue impairment from severe weather, climate change and fossil fuel transition.
  • "This proposed SEC requirement sends a strong signal to all companies that they need to take climate risk seriously," XDI Systems CEO Rohan Hamden said today.
  • "The proposed SEC rules are a step towards making climate risk reporting mandatory.

NEW DATA QUANTIFIES SIGNIFICANT RISK TO GLOBAL INDICES FROM PHYSICAL CLIMATE RISK

Retrieved on: 
Wednesday, March 16, 2022
FTSE, Weather, STI, CAC, Risk, Nikkei, DAX, Hang Seng Index, ASX, Climate change, FTSE 350, XDI, HSI, Forest fire weather index, Hang, Flood, Risk management

The data has been published by physical risk experts, XDI, using a like-for-like methodology across 2.1 million commercial properties.

Key Points: 
  • The data has been published by physical risk experts, XDI, using a like-for-like methodology across 2.1 million commercial properties.
  • Companies listed on the Nikkei are most exposed, followed by companies listed in Hong Kong, Singapore, France and the UK.
  • "We have published the XDI 1000 to show that an objective and globally consistent approach to physical climate risk reporting is possible, which allows a like-for-like comparison for regulators, shareholders and companies," XDI CEO Rohan Hamden said.
  • "The reality is that many companies are already experiencing losses as a result of extreme weather events caused by climate change.

NEW DATA QUANTIFIES SIGNIFICANT RISK TO GLOBAL INDICES FROM PHYSICAL CLIMATE RISK

Retrieved on: 
Wednesday, March 16, 2022
FTSE, Weather, STI, CAC, Risk, Nikkei, DAX, Hang Seng Index, ASX, Climate change, FTSE 350, XDI, HSI, Forest fire weather index, Hang, Flood, Risk management

SYDNEY, March 16, 2022 /PRNewswire/ -- Companies' operational facilities and business continuity are increasingly at risk from extreme weather events with new data published today suggesting revenue impairments are set to increase 90% by 2050 under the current emissions trajectory.   

Key Points: 
  • The data has been published by physical risk experts, XDI, using a like-for-like methodology across 2.1 million commercial properties.
  • Companies listed on the Nikkei are most exposed, followed by companies listed in Hong Kong, Singapore, France and the UK.
  • "We have published the XDI 1000 to show that an objective and globally consistent approach to physical climate risk reporting is possible, which allows a like-for-like comparison for regulators, shareholders and companies," XDI CEO Rohan Hamden said.
  • "The reality is that many companies are already experiencing losses as a result of extreme weather events caused by climate change.