In October 2020, financial institutions from around the world will once again be recognized for the quality of their climate-related reporting at the International Climate Reporting Awards. Organized by the French Ministry for the Ecological and Inclusive Transition, the French Ecological Transition Agency (ADEME), 2° Investing Initiative, as well as the global standard-setter the Sustainability Accounting Standards Board (SASB), the awards are open for submissions from May 18th through July 31st, 2020 (deadline extended due to the impact of the COVID-19 crisis and subsequent delays in TCFD reporting).
Objectives of the Awards
Financial institutions are encouraged to apply in order to:
- Gain international recognition for your organization’s climate strategy
- Share expertise, learnings, and help identify challenges in the climate reporting field
- Receive tailored feedback and advice on your institution’s reporting practices
All financial institutions from around the world are eligible, including asset managers, asset owners, insurances and banks, as well as development banks and central banks.
Building on leading global standards, including the Task force on Climate-related Financial Disclosures (TCFD) and the EU Non-Financial Reporting Directive, the Awards aim to recognize financial institutions who integrate climate-related considerations into their reporting and business practices. The French government’s support for the Awards stems from its groundbreaking work in climate reporting, notably Article 173-VI of the Law on Energy Transition for Green Growth – the first climate-related financial regulation in Europe.
In 2019, the top prizes went to six financial institutions from the U.S., France, and Australia: Aviva France, Citi, Allianz France, Ircantec, and AXA. Australian Ethical won the Jury’s Special Prize, having been shortlisted under two categories.
Changes in 2020
In 2020, the Awards criteria and scoring system have been enhanced to consider the latest advances in climate reporting, such as how institutions perform climate stress-testing for the first time. The jury will bestow awards by type of financial institution. Moreover, the jury will require all applicants to receive a minimum score against some criteria to be eligible for awards.
For this 3rd edition, the Sustainability Accounting Standards Board (SASB), a jury member in 2019, has joined the Awards Steering Committee to add its subject matter expertise to the committee and provide its experience on the materiality and impact of sustainability-related matters to financial institutions.
Find out more and apply:
- Applications are open from May 18th to July 31st, 2020
- More information can be found on the official Awards website
- For questions, please contact email@example.com