According to the United Nations, there is an estimated return of $4 USD for every dollar invested in the climate transition. Respected organizations such as the Chartered Professional Accountants of Canada note the importance of involving finance professionals in preparing for climate change. Additionally, Moody’s, a major financial risk assessment agency, supports the critical role of climate finance in making better, faster decisions to support an organization’s bottom line. Responding to the climate crisis is not about whether we do it, it’s about how we do it. We know the costs will be significant but as noted earlier, the risks and opportunities can be navigated effectively with a robust plan.
3. Climate Finance
Halton Region has a long standing commitment to financial stability. A focus on climate finance supports the means to ensure credible forecasting and incremental preparation and sets the Region up to benefit from partnerships, external funding sources and investments.
- Undertake a feasibility assessment of instituting a carbon budget.
- Undertake an assessment and review of the recommendation to establish the use of the Task Force on Climate Related Financial Disclosures (TCFD) as an annual report to assess progress on climate related governance, risks and opportunities, strategy and metrics/targets using the maturity index that is provided as part of this framework.
The Region will explore tools and processes to support the financial aspects of the climate transition to ensure continued financial excellence and open pathways to expand corporate prosperity. This will be done in a manner that addresses both risks and opportunities with a focus on stability and transparency.