The Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD) clearly wants to understand how the relevant industries tick, and also key challenges and potential solutions. You could say it is a regulator shout out for know-how. So we have sought to respond. Our focus on systemic risk got very weak support in 2015 when we first started talking about it and the consequent climate value at risk. In the last few months, however, the tide has turned and there is more willingness to engage with the objective arguments.
As always, we look forward to feedback from readers.