22 October 2021 Vanessa Havard-Williams ESG - Climate change - Risk and governance - Sustainable finance - Financial Regulation

Climate Financial Risk Forum Guide 2021 - Managing legal risk

Practical “by industry for industry” guide detailing best practice, practical tools, and recommendations for financial firms to support them adapt their risk, strategy, disclosure and decision-making processes has been published by the Climate Financial Risk Forum (CFRF).  

Once again the Linklaters team, led by Vanessa Havard-Williams as part of the Disclosures Working Group led by Federated Hermes, contributed the legal content in the disclosures toolkit in a paper (along with case studies) which derives from a series of roundtables on the following topics:

  • Challenges of climate-related reporting specific to financial institutions
  • What are the risks and liabilities associated with reporting failures for financial institutions?
  • Managing risks in reporting and good practice approaches

Thanks to everyone who participated in the roundtables.

There is also an excellent Climate Data and Metrics report which was driven by Impax and Willis Towers Watson which shares key insights from thematic work across the Forum and applies these insights to an illustrative climate disclosure dashboard. We worked with the authors to include linkages between the two papers.

Click here to read more about the full guidance, which also provides best practice on climate risk management, scenario analysis and innovation.