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Trails for Climate Disclosure: A Regulatory Overview

Report PACTA Reporting & disclosures Regulators & policymakers

Published in partnership with the Swiss Federal Office of the Environment, this report provides detailed guidance on how financial regulators and policymakers can support climate transparency by financial institutions and thus help to implement the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).

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These recommendations were issued a few days before the launch of this report and build on the climate risk taxonomy (developed by 2° Investing Initiative as part of the Portfolio Carbon Initiative work with WRI and UNEP-FI)

Our report describes four pathways which are related to the following points:

  • France’s pioneering investor transparency law in the form of Article 173 and the subsequent Climate Reporting Awards, co-organized by 2° Investing Initiative, the French Environment Ministry, and the French Treasury;
  • The Swiss government’s pathway, pursued in partnership with 2°ii and based on a free and voluntary 2°C assessment for all Swiss pension funds;
  • Internal assessments by regulators across Europe and in the United States looking at mobilising existing supervisory data and reporting (notably under EIOPA guidelines for insurance companies);
  • Public reporting of portfolio data allowing for third-party assessments, as is currently the case for Swedish public pension funds and US insurance companies and mutual fund managers.

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© The 2° Investing Initiative

2DII today announced it is transferring stewardship of the Paris Agreement Capital Transition Assessment (PACTA) to RMI, formerly Rocky Mountain Institute. PACTA measures financial portfolios' alignment with various climate scenarios, including those consistent with the Paris Agreement. Under RMI’s stewardship, PACTA will remain a free, independent, open-source methodology and tool, and will continue to provide the financial and supervisory community with forward-looking, science-based scenario analysis to help users make climate-aligned financing decisions. RMI will invest in scaling up PACTA’s usability and applicability in day-to-day investment decisions as well as reporting requirements.

Access the full press release here: https://2degrees-investing.org/2-investing-initiative-transfers-stewardship-of-pacta-to-rmi/In the coming weeks, we will update this website with additional information. For now, please note that all contact information remains unchanged.