Skip to main content
Marsh logo

Podcast

Risk in Context Podcast: Getting ready for new climate reporting requirements

In this episode of Marsh’s Risk in Context podcast, Sophie Griffin and Nick Faull from Marsh Advisory look at climate reporting trends and the actions businesses can take to prepare for mandatory reporting requirements.

Stacks of unfinished papers documents of business report with green paper corner on desk in modern office.

  , 

11/30/2021

As the physical and transition risks from climate change grow more prominent, regulators in many nations are making climate reporting mandatory.

In Australia company directors will be required to disclose climate change as a material risk and New Zealand from 2023 financial organisations will be required to report in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

In this episode of Marsh’s Risk in Context podcast, Sophie Griffin (Marsh Advisory Pacific) and Nick Faull (Marsh Advisory UK) look at climate reporting trends and the actions businesses can take to prepare for mandatory reporting requirements.

Who is this for: CEOs, Company Directors, Risk Managers
How long: 24 mins
Topics discussed:

  • What is TCFD and what should business be doing to prepare for climate change reporting?
  • The differences in mandatory climate reporting requirements between Australia and New Zealand
  • The commercial benefits of climate-related risk reporting for entities
  • Complexities and challenges and how a business may respond to them
  • Timescales for TCFD and climate-related reporting and how to get ready
Google Podcast Apple Podcast Spotify Podcast
Download transcript

Key takeaways

Many countries are set to make climate reporting — as prescribed by the Taskforce on Climate-Related Financial Disclosures (TCFD) — compulsory over the next decade.

At the same time, key stakeholders — including investors, regulators, customers, and suppliers — expect companies to understand and disclose key climate-related exposures.

Climate reporting should be viewed not only as a compliance exercise, but rather as an opportunity.

Companies that can better understand and assess their climate risks can integrate climate risk management into their strategic planning and can position themselves to more easily access green financing.

Assessing and effectively disclosing climate risks may not be a straightforward exercise.

Rigorous processes will be required for companies to align with the TCFD’s core elements, including governance, strategy, risk management, and metrics and targets.

About our speakers

Sophie Griffin

Sophie Griffin

ESG Leader, Pacific Region, Marsh’s Advisory

  • Australia

Sophie Griffin is a principal consultant with Marsh’s Advisory practice in the Pacific. Sophie helps Marsh clients reduce their exposure to natural hazards through modeling, emergency response planning, business continuity planning, and recommendations related to physical loss and resultant business interruption.

Placeholder Image

Nick Faull

Head of Climate & Sustainability Risk, Marsh

  • United Kingdom

Nick Faull is head of Marsh Advisory’s Strategic Risk Consulting Practice in the UK, through which he leads the rollout of Marsh’s climate proposition. He has extensive experience consulting to leading financial institutions and has completed a DPhil in climate change modeling at Oxford University.

Related articles

Startup business people group at office

Podcast

Risk in Context Podcast: Navigating emerging D&O risks and restructuring challenges

01/09/2024
Panarama of the mountains, snow and blue glacial ice of the Smeerenburg glacier, Svalbard, and archipelago between mainland Norway and the North Pole. An inflatable boat is anchored in the foreground.

Podcast

Risk in Context Podcast: COP28's key significance for risk management amidst increased focus on climate adaptation

12/19/2023
Placeholder Image

Report

Guide to natural hazard and climate risk management

12/06/2023
Ob River Flood June 2015 Aerial View of same houses in vicinity of Nizhnevartovsk, Tyumen region, Russia. Aerial view of the residential area of the suburb of Nizhnevartovsk during the flood of 2015.

Webcast

Webinar replay: 2024 Weather & climate risks outlook

12/06/2023

LCPA 21/507

“Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”