Climate change is increasingly regarded as one of the greatest risks to the stability of the financial system, leading to increased demand for climate-related financial disclosure.
In this interview Mary Schapiro, Head of the Task Force on Climate-related Financial Disclosures (TCFD) Secretariat and Gray Schweitzer, HSBC's Head of US FIG-DCM and Member of The Federal Reserve Board's Insurance Policy Advisory Committee, discuss the role of the TCFD and offers insights on why the investor community is demanding more climate-related information. Mary discusses what the financial sector needs to do to mitigate climate-change risk in the transition to the low-carbon economy. She also comments on the important role that HSBC is playing to support the TCFD's priorities.
Mary is the Vice Chair for Global Public Policy at Bloomberg and Senior Adviser to the Founder. She is also Head of the Secretariat for the TCFD. Before this, Mary was Chair of the U.S. Securities and Exchange Commission. She was appointed to this position by President Barack Obama in 2009.