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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.
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30/11/2021

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

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.

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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.

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Nick Faull

Head of Climate & Sustainability Risk, Marsh

  • United Kingdom

Nick Faull is the Head of Climate and Sustainability Risk at Marsh where he helps to develop Marsh’s global sustainability and climate services — including risk modelling and management — to support clients as they transition towards net zero carbon emissions. He was previously Head of Strategic Risk Consulting at Marsh in the UK, as part of which he led the roll-out of Marsh’s climate proposition to clients. Prior to this he spent nine years with Oliver Wyman consulting to financial services firms on a range of risk-related issues. He combines extensive consulting experience with a strong background in climate having completed a DPhil in climate change modelling at Oxford University.

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