Blogs

Investors must ‘move beyond talking’ on climate risk disclosure – AODP

first_imgHe added that the writing was on the wall regarding transparency, and that leaders in the field were already fully disclosing all risks associated with climate change.“It’s time to accept the inevitable and embrace this change,” Poulter said.The warning came as the UK’s Prudential Regulation Authority warned that pension funds should not underestimate their fiduciary duty to consider the financial risks of climate change.In a report aimed at the insurance industry and launched by Bank of England governor Mark Carney, it outlined lawsuits brought in the US against pension trustees for failing to consider the financial risks associated with the “structural decline” of the coal industry.In a speech at Lloyd’s of London on Tuesday, Carney referenced the US lawsuits.“Cases like Arch Coal and Peabody Energy – where it is alleged the directors of corporate pension schemes failed in their fiduciary duties by not considering financial risks driven at least in part by climate change – illustrate the potential for long-tail risks to be significant, uncertain and non-linear.“These risks will only increase as the science and evidence of climate change hardens.”The AODP and ClientEarth previously warned that pension funds falling behind on climate-risk mitigation risked breaching their fiduciary duty. Institutional investors have been urged to back the “inevitable” shift towards even greater climate-risk transparency to protect investments against climate change risks.The Asset Owners Disclosure Project (AODP) said it was time for investors to “move beyond the talking” when it came to tackling the risk associated with climate change.Its chief executive Julian Poulter added that those leading the organisation’s index on climate-risk disclosure had proven investments could be protected “against a carbon crash and still make money”.“It’s time to focus attention on those laggards who are digging their heels in – some for ideological reasons and some out of negligence,” he said. last_img read more

Christchurch teens increasingly violent towards parents

first_imgNewstalk ZB 14 May 2013Christchurch teenagers are said to be increasingly violent towards their parents – and the earthquakes are being blamed.Staff at the Womens Refuge have noticed an increase in mainly male teenagers domestically abusing their family members – and it seems mothers are the first to cop it.Additional staff have had to be recruited due to increased demands like this at the refuge.Spokeswoman Julie McCloy says the increase has been over the past two years.“Perhaps what we’ve seen is just that accumulation of stress and maybe see young people who have grown up in a difficult or abusive environment and you add that extra stress to it, they don’t know how to handle their emotions.”Ms McCloy says it’s a worrying trend.“Over probably about 25 percent of the police reports we get there’ll be incidents where a young person is involved as a perpetrator of violence so that’s significant.”She says the youngest they’ve seen was 14-years-old.They’re not expecting the boom to drop off anytime soon.http://www.newstalkzb.co.nz/wellington/news/regch/1804940486-worrying-trend-amongst-christchurch-teenslast_img read more