Connect with us

Hi, what are you looking for?

News

Converge says investors demand climate-related information

LISTED fiber internet service provider Converge ICT Solutions, Inc. said it is working to increase transparency in sustainability reporting, as more investors seek climate-related information.

“Increasingly, investors are demanding climate-related information to enable them to make informed decisions,” Converge Chief Strategy Officer Benjamin B. Azada said in an e-mailed statement on Monday.

The company said it supports the international Financial Stability Board’s Task Force on Climate-Related Financial Disclosures (TCFD) “to prepare for climate-related risks and, on a larger scale, mitigate its impact on the environment.” The TCFD provides climate-related financial disclosure recommendations.

“By progressively adopting TCFD’s recommendations over time, we will get better at disclosing the specific climate-related risks and opportunities facing Converge,” Mr. Azada said.

More than 3,000 companies globally support disclosing climate-related risks and opportunities, according to the company. The objective is to strengthen the stability of the financial system.

“Better climate-related disclosures will lead to better information that will allow companies to incorporate climate-related risks and opportunities into their risk management, strategic planning and decision making processes,” Converge said, citing the TCFD.

“Investors, insurance underwriters and lenders will make sounder financial decisions as well.”

“With a better understanding of the financial implications of climate change, both the company and its investors may be able to affect markets to channel investments in more resilient and sustainable business models,” it also said.

Converge Chief Executive Officer and Co-Founder Dennis Anthony H. Uy noted that supporting the TCFD means the company will be able to better plan for the future and manage risks.

“The Philippines is one the most vulnerable countries to climate change. Sea level rise, stronger and more frequent typhoons, and rising temperatures will all have an impact on our business and on the Filipino people,” he added.

The company plans to embark on readiness assessment and gap analysis against the recommendations from the TCFD. — Arjay L. Balinbin

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...

News

Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...

News

Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...

News

REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...

News

Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.