The UK Financial Reporting Council (FRC) expects companies to disclose a “clear accounting policy” and information regarding the use of carbon credits, it said in a review on corporate reporting published this week. The FRC found that none of the 20 listed companies “disclosed any information relating to carbon credits in their financial statements”. If material, the UK watchdog said companies should disclose the type of scheme they participated in; the number of credits received, purchased, retired and sold; projects to which the credits relate; and risk management strategies in place.
The European Commission has officially proposed postponing its methane regulation’s importer requirements by one year, citing the “additional pressures on the security of supply of imported fossil fuels in the current geopolitical context”. Under the rules, due to come into force in January, importers must demonstrate that crude oil, natural gas or coal imported into the bloc was produced in a jurisdiction with methane monitoring, reporting and verification requirements equivalent to EU or UN standards. The Commission revealed last month it was planning to put the proposal forward, and will submit it to the European Parliament and Council for adoption.
Generali has partnered with the World Bank to work on resilience in emerging economies. Announced at the annual World Bank and IMF meetings in Bangkok, the memorandum of understanding will see them collaborate on solutions for climate and crop insurance, as well as strengthening disaster and climate risk protection. They will also support risk pooling across emerging markets, “creating diversified and scalable structures for disaster-risk coverage, and designing innovative risk-pooling mechanisms linked to climate risk”, a statement said.
Tokyo Metropolitan Government has raised €400 million from its second resilience bond. Since its landmark first issuance came to market last year, the city has updated its framework to cover upgraded sewer infrastructure, including measures to strengthen the flood resistance of water reclamation centres and pumping stations.
Allianz Global Investors, Amundi, Pictet Group and Federated Hermes are among the latest investors to sign a statement supporting the Tropical Forest Forever Facility (TFFF). Launched at COP30, the conservation fund has so far received commitments from Brazil, the UK, Norway, Germany, Indonesia, France and Luxembourg. The Rotterdam TFFF Investor Statement was originally announced in June with 13 founding financial institutions.
ABP has committed €150 million to the final close of SLM Partners’ Silva Fund II, becoming the sole external investor in the vehicle, which will use regenerative management techniques for its forestry portfolio. Fellow Dutch investor, insurer Coöperatie VGZ, has committed €25 million to Van Lanschot Kempen’s open-ended SDG Farmland Fund, while Nuveen Natural Capital has raised $100 million for its nature-based solutions fund from a single unnamed investor.
Climate resilience is the leading driver for action on nature, according to a survey by sustainability consultancies Biodiversify and Little Blue Research. Published this week, the report gathered insights from 229 sustainability professionals from a range of organisations including companies, consultancies and financial firms. The second biggest driver was policy and legislation, followed by reputation.