ING, a leading financial institution, has released its annual Climate Report [2d966a63]. The report delves into the relationship between ING's financing activities and climate change, as well as the impact of climate change on its business [2d966a63]. One of the key focuses of the report is ING's Terra approach, which aims to steer the nine most carbon-intensive sectors in its loan portfolio towards global climate goals [2d966a63]. The report also highlights ING's efforts to engage with clients and support them in their transition to a more sustainable future [2d966a63]. Furthermore, the report outlines ING's work in assessing climate risks and taking action to mitigate them [2d966a63]. This demonstrates the institution's commitment to addressing the challenges posed by climate change and promoting sustainable practices.
CapitaLand Investment Limited (CLI) has also launched its first standalone Climate Resilience Report [0bb3b3a9]. The report is aligned with the recommendations by the Task Force on Climate-related Financial Disclosures (TCFD) and includes a comprehensive climate scenario analysis of CLI's diversified portfolio of more than 480 properties in 20 countries across different asset classes [0bb3b3a9]. The analysis considers three scenarios where global temperatures rise by up to 1.5°C, 2°C, and 3°C by 2100 [0bb3b3a9]. Coastal flooding was identified as the most significant risk to CLI across all three scenarios, and the company has flood control measures in place for most of its properties [0bb3b3a9]. CLI plans to integrate climate change resilience into the design, development, and management of its properties [0bb3b3a9]. The report also outlines CLI's decarbonization strategy and its commitment to achieving its 2050 Net Zero target for scope 1 and 2 emissions [0bb3b3a9]. Additionally, CLI will focus on reducing scope 3 carbon emissions and enhancing tracking and disclosure of material scope 3 categories, especially supply chain-related emissions [0bb3b3a9]. CLI is also evaluating its readiness for reporting against new sustainability standards and assessing the applicability of new nature-related disclosure guidelines [0bb3b3a9].
The publication of these reports by ING and CapitaLand Investment Limited underscores the growing recognition among financial institutions of the urgent need to address climate change and contribute to global climate goals. Both reports highlight the institutions' commitment to assessing climate risks, taking action to mitigate them, and promoting sustainable practices in their respective industries.
The White House has sought advice from CoreLogic, a leading provider of property data and analytics, on enhancing climate resilience [c1f38a8f]. CoreLogic's Chief Scientist Dr. Howard Botts and EVP of Public Policy and Industry Relations, Pete Carroll, were invited to the Climate-Energy-Macroeconomic Modeling Meeting to provide insights on using climate-related data to identify and account for data gaps, track the effects of policy adjustments on climate resiliency, map infrastructure resiliency, and forecast the financial implications of changing climate [c1f38a8f]. CoreLogic builds structure-level climate change risk models that support federal and private sector initiatives in managing and remediating climate risk in the property ecosystem [c1f38a8f]. The company integrates best-in-class climate models with its Climate-Coupled-Catastrophe Modelsâ„¢ (C3 Modelsâ„¢) to provide comprehensive climate change physical risk measures for various natural disasters [c1f38a8f]. The U.S. government has recognized climate change as an emerging and increasing threat to the global financial system and economy, and CoreLogic is committed to supporting initiatives that enhance the understanding and management of climate-related risks in the property ecosystem [c1f38a8f].