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Baker Hughes is guided by its purpose to take energy forward within a sustainable framework of people, planet and principles. Our Board of Directors is annually reviewed for desired skills and capabilities, as well as diversity of executive experience and background.

This year, Baker Hughes achieved a Top 5 ranking in Fortune magazine’s Most Modern Boards list, up from #6 in 2022. According to Fortune, the assessment is based on “the belief that in a rapidly changing business climate, board innovation—and the high performance that comes with it — is predicated on who’s in the room”.

Nelda J. Connors sits on the Baker Hughes Board, bringing expertise in leading very large businesses at Atkore International (formerly a division of Tyco) and Eaton Corporation; as well as small to medium-sized enterprises. She is the founder, chairwoman and CEO of Pine Grove Holdings, LLC, a privately held firm which invests in and operates companies based primarily in power generation, software as a service, metals machining, and transportation logistics sectors.

Her breadth of experience in transforming enterprises for success in a global environment is just part of the diversity she brings to the four boards on which she serves. Here she considers how modern boards enrich and support strong business cultures and reveals how a ‘sharing economy’ benefits governance at the highest level.

QUESTION: 
How did you get to where you are today?

NELDA J.CONNORS:

Having started as an engineer for many years and then in general management, I have had successive roles in learning how to manage a business unit and manage companies of various sizes. Even though I had the experience as a public company CEO and an executive for many diversified industrials, I always wanted to start my own company, to have that experience of being an investor operator. I thought that what I had experienced in taking a company public plus other global operating roles prepared me for being an investor. I have been in private investment for over 11 years. So that’s how I got to be where I am — through a lot of good experience with some very well-known global companies.

QUESTION: 
How did that lead to your contributing to boards, specifically the Board of Baker Hughes?

NELDA J.CONNORS:

When my division of Tyco was about to go public, and I was to become its CEO, the Tyco board thought it would be a good idea for me to serve on a board so that I would have the experience of what it is to be a member of a board, as well as having my own board. My first board experience was Boston Scientific, and I’ve been on that board since 2009. As I started developing my own business around investing in smaller companies, I still wanted to stay current with the experiences of larger companies because they are always on the cutting edge of what businesses are doing globally.

Where my small companies would not be necessarily able to afford strategic consultants or hire the type of talents that larger companies can, being on the boards of companies like Baker Hughes continues to give me that lens into what’s new in business thinking that I could apply to my smaller companies. And vice versa: some of the things that we do in small companies from a nimbleness standpoint, or making good with less, you can bring those lessons into the bigger companies.

When I was being considered to join the Baker Hughes Board, Lorenzo [Simonelli, Chairman & CEO] was looking for a certain diversified industrial background and experiences to augment his current Board and its thinking. My background, that I’ve lived and worked internationally for almost half my career, having operational excellence as well as profit-and-loss business unit (P&L) experience, and still being current as an operator, were some of the things that the board thought could enhance the Baker Hughes Board. So, in October 2019 when I was nominated to join, I accepted.

QUESTION: 
Tell us about operational excellence. How has that changed since you started serving on boards?

NELDA J.CONNORS:

I began my career in the automotive world, where the business has very, very thin margins. So, you had to figure out how to, as we say, ‘Wring the dry towel’, to get as much operational profit as possible. Then, other diversified industrials, such as GE, started to see that there was something to what continuous improvement and overall operational excellence meant, and how lean principles could help expand their operating margins. Historically, in oilfield service industries, capital was plentiful, and return on capital was not necessarily one of the top metrics — an important metric, but not necessarily one of the top metrics — as it is now, operational effectiveness is a differentiator.

QUESTION: 
Didn’t the automotive industry go through incredible tumult? Are there some parallels with the energy industry?

NELDA J.CONNORS:

I wouldn’t call it tumult; I would call it more transformation. External forces can force your model to change. And I think that’s where the oil and energy segment is currently. In automotive, if you didn’t sell a particular model or lost traction in the three-year vehicle product cycle, it could be devastating – having to wait for three more years to have a chance to rectify – if you had the capital to deploy. Oilfield services has a longer product lifecycle, so you must bet and even bet much longer. More recently, the impact to the Earth and future resource constraints are the biggest driver of what happens with oilfield services and in the energy sector.

QUESTION: 
At Pine Grove Holdings, what are your guiding principles for investment?

NELDA J.CONNORS:

Often, I buy or invest in companies that might be the only manufacturing company in that community. It might be as few as 20 jobs, or as many as 200 jobs in that location, but the companies are nonetheless important and non service-based businesses.

While service-based is also necessary, in my opinion, manufacturing jobs are an essential component of society in creating middle to upper classes of wealth.

And if a community or a nation doesn’t have a middle class, which I believe helps create wealth, it doesn’t ultimately survive. That’s one of the reasons why I focus on the size of companies I do. And controlling them just allows me to put in the strategy that I know has worked in my bigger company experience.

QUESTION: 
Technology acquisitions have been a feature of Baker Hughes’ growth. Now seems to be a period of rationalization. How do you view this moment in time?

NELDA J.CONNORS:

You always must manage your portfolio; Baker Hughes is no different. We’re always looking at the portfolio to say which ones are our growth engines; they may be small now, but they’ll pay much greater dividends in the future because that’s where the end markets and the future of energy is. Therefore, you need to place smart bets there; sometimes you need to place many bets to get two or three good ones, while you still invest at a certain point for moderate growth or for cash out of others. That’s been successful for many other industries, and I think it’s applicable here. That’s what Lorenzo and the management team are focused on and have the full support of the Board on this strategy.

QUESTION: 
Fortune magazine found Baker Hughes to be among the top five most modern boards. What does a ‘modern board’ mean to you?

NELDA J.CONNORS:

To me the modernization of the Baker Hughes Board was not accidental. It was purposeful and unique. When I was invited to join the Board, the leadership team at Baker Hughes was quite diverse in a lot of ways, and the Board then started mimicking what the management team already looked like -that was unique for an industrial company.

QUESTION: 
Fortune identified that one feature of modern boards is that they have more interaction with the management team or executive teams than they might have in the past and the benefits that confers in terms of bringing a diversity of experience to advise on various challenges. Do you have much interaction with the executive leadership team at Baker Hughes?

NELDA J.CONNORS:

Yes. I think that was also unique during my ‘onboarding’. I met with all the senior leadership team and some next-level colleagues to understand their role in the greater Baker Hughes and what their mission was and how they thought about the strategy and transformation. When newer people come on — new to the company or new to their promotion — we get exposure to them, so that we can develop an understanding of how that person thinks about the company in general and about their role.

From an alignment perspective, this means we don’t have to be re-educated at every Board meeting. We can have a kind of a seamless conversation; even though it might be 60 days since we last met, it tends to pick back up where we left off. And most directors stay current in between meetings following the company on their own or through information the company might share.

QUESTION: 
You now sit on the boards of Baker Hughes, Zebra Technologies, Otis Worldwide and Boston Scientific. Are there common threads in the way they approach business?

NELDA J.CONNORS:

What’s interesting is that for the most part, they’re all at different stages of transformation and managing the risks of transformation. A board has four responsibilities, observing performance, approving, and providing resources to fund the strategy, hiring and developing the succession plan, and risk management. Depending on where you are in a normal cycle of a business or the market, the board is involved in these 4.

Also, I take lessons that I’ve learned at other boards and apply them possibly to Baker Hughes’ situation and vice versa: take some of the lessons that I’m learning and the things that I’m hearing in the Baker Hughes situation — unattributed, of course — and bring it into other boards. Sometimes there’s a nice element of sharing. As you know, Baker Hughes has a very strong Board and I am a good student at taking down good and thoughtful questions from board members and bringing that to other company boards, if appropriate.

QUESTION: 
Is there something outside of work that helps you in your approach to the boards?

NELDA J.CONNORS:

Sometimes on the drive home — you know, in Chicago [where I live], you can think it’s going to be a 30-minute drive and it’s an hour or more — so I listen to books on tape, or podcasts or TED Talks, and it gives me a chance to reflect on other ways of thinking. It often helps me refine my way of thinking and possibly inspires the best question to ask given what I think the company is going through, or it might provide me with a different lens to apply.

QUESTION: 
What kinds of books do you most like to read? Is there a book you’ve recently found inspiring?

NELDA J.CONNORS:

My favorite genre of books is biography. I read more biographies than I do business books.

I just read Principles by Ray Dalio. Although he’s a hedge fund manager this book is about creating a business and leading a multigenerational team and setting it up such that he could retire without worrying that the business would continue. It’s all about leadership.

Bennamann, a British-based clean energy company and its partner New Holland Agriculture (a brand of CNH Industrial) was recently visited at the John Lewis Partnership’s Leckford Estate by Department of Environment Food and Rural Affairs (DEFRA) minister Lord Richard Benyon. At the visit, they highlighted how clean energy technology developed in Britain is capturing methane produced by the partnership’s own cattle – and turning it into tractor fuel.

The capturing of methane has over 80 times the global warming impact of carbon dioxide in the first 20 years of its lifetime, making it essential to keep at lower levels. Farming has long been a perpetrator of the diffusion of methane, making the high-tech innovation developed by Bennamann and CNH revolutionary as it recycles this harmful chemical for further sustainable use.

The John Lewis Partnership (JLP) announced its intention in 2019 to reduce its operational greenhouse gas emissions to net zero by 2050 at the latest, showcasing the business’ strong commitment to reducing the impact of its farming operations as part of this.

“The fuel can also be converted into electricity for powering their farms, charging electric vehicles and or powering dairy equipment. This partnership demonstrates bold leadership by one of the UK’s most iconic retailers of how we can get to net zero, showcasing agriculture as the solution and not the problem,” David Rapkins, Business Director of New Holland UK, Ireland, Nordics and Baltics added “Not only are we looking to help farmers meet the 2027 deadline to cover lagoons, we are also finding a financial benefit by turning their waste into a commodity.”

This sits as part of CNH’s wider move to regenerative farming and their ambition to make Leckford a center of excellence for regenerative farming practices to innovate, learn and share to help others adopt practices that help nature’s recovery and mitigate the impacts of climate change.

KeyBank announced Bhumika Norris has been named Market President in Northern Indiana. In this role, she will help grow KeyBank’s business and community presence in the region while continuing to serve as Market Retail Leader in Key’s Northern Indiana and Michigan markets.

Norris joined KeyBank in 2016 as a Branch Manager and has held roles as an Area Retail Leader and Senior Area Retail Leader. In February 2023, she took over as Market Retail Leader for the Northern Indiana and Michigan markets.

Previous to Key, Norris began her career in banking 20 years ago as a management trainee and Branch Manager with PNC Bank.

“Since joining Key seven years ago, Bhumika has made it her priority to forge strong relationships across Northern Indiana, connecting with clients and setting an example for all of our teammates,” said Stacy Radabaugh, Regional Retail Leader for KeyBank. “We are all excited about the work she will do to enhance KeyBank’s already strong position in the region.”

In her newly expanded role, Norris will also partner closely with Key’s Corporate Responsibility Officer, Yvonne Harrington, to plan Key’s strategic investments to help the community thrive.

“Northern Indiana is truly the first real home I’ve ever had,” said Norris. “My husband and I have made a life for ourselves here, and it’s my mission to help this community thrive. I look forward to the wonderful things I can accomplish with my team in the years ahead.”

Norris earned her bachelor’s degree in business administration from The Ohio State University. She also completed the CBA Executive Banking program in 2020.

ABOUT KEYBANK

KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $195 billion at June 30, 2023.

Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.

 

Originally published on Aflac Newsroom 

Teosha Harrison’s best friend, Lola, was 28 when she was diagnosed with breast cancer. For 10 years, Teosha was at Lola’s side — to support and encourage her every step of the way through her cancer journey. Teosha was not only a friend to Lola, but also an advocate for breast cancer awareness and early detection. Sadly, Lola passed away. Soon after, Teosha had her first mammogram at age 38. 

Knowing your body 

A few months after the mammogram, Teosha noticed a lump in one of her breasts but dismissed it as scar tissue from a medical procedure two years prior. During a visit to the doctor for swimmer’s ear, she mentioned the lump to her physician, who encouraged her to have it checked right away. On Sept. 18, 2018, Teosha was diagnosed with Stage 1A Progesterone Positive Breast Cancer. 

“I knew something wasn’t right because I know my body. I discovered the lump after a self-check,” said Teosha. “Knowing your body is so important because it can help you talk to your doctor and get in front of something like breast cancer.” 

Walking through the darkness of breast cancer 

Teosha’s type of cancer had the propensity to spread quickly. Her treatment journey began with eight rounds of aggressive chemotherapy followed by a double mastectomy. The treatment was challenging, both physically and mentally. The disruption of breast cancer had stripped her independence. 

“Before I was diagnosed, I was on the go. My three sons were really active in basketball and band. I was working full time. Everyone leaned on me,” said Teosha. “Honestly, some days I thought dying would have been easier than enduring the physical and mental fight cancer presented. There were sad, dark times and low valley moments. But then I realized I was not walking alone. It was hard for me to accept help, but I did, thanks to the encouragement of my mother. It was humbling as I began to lean on others.” 

Finding light in the darkness 

Teosha’s supporters rallied around her as she completed treatment, surgery and reconstruction. As her life was getting back on track, Teosha lost her father and faced other personal challenges that inspired her to shift her perspective. 

“After overcoming breast cancer and the other obstacles in my life, I found strength to become the best version of myself that I could be,” said Teosha. “Cancer changed me completely. I liked the old Teosha, but she was gone. I didn’t have to be a diminished version of myself. I am different now, and that’s okay. I am still Teosha but stronger than ever before!” 

Unapologetically, Totally Teosha 

Teosha used to be her biggest critic. Now, she’s her biggest fan. 

“I am not the person I was before cancer. Some days, I don’t know who I am, and I give myself grace,” said Teosha. “I had to walk through sadness and pain to rediscover myself. I’m now unapologetically ‘Totally Teosha, Stronger Than Before.’”

View Teosha Harrisons breast cancer journey here

Marathon Petroleum Corp.’s (MPC) Detroit refinery hosted an ENERGY STAR® Industrial Showcase in August to celebrate its achievements in energy management practices.The refinery received its 7th ENERGY STAR certification in 2022, meaning it performs within the top energy quartile nationally within its size class.MPC leaders and employees met with Detroit city leaders and community advocates, Michigan State Representative Tyrone Carter, and EPA representative Betsy Dutrow at the showcase event.

The Marathon Petroleum Corp. (MPC) Detroit refinery earned the opportunity to host an ENERGY STAR® Industrial Showcase in August to celebrate its achievements in energy management practices recognized by the U.S. Environmental Protection Agency (EPA). Detroit city leaders and community advocates, Michigan State Representative Tyrone Carter, and EPA representative Betsy Dutrow attended the event. Dutrow serves as the Manager of ENERGY STAR Partnerships.

“Our goal with ENERGY STAR is to help companies save money, but also protect the environment,” said Dutrow. “You are unique. Of 129 oil refineries in this country, only 18 have ever earned ENERGY STAR Certification. What it also means is that this refinery is performing within the top energy quartile nationally within its size class. That is a grand achievement.”

In 2022, MPC set a refining industry record when six of its refineries, including the Detroit refinery, received the ENERGY STAR certification. It was the Detroit refinery’s seventh time to achieve this recognition.

“The team at the Detroit refinery has done an outstanding job, and it is embedded in how they do work,” said Ruth Cade, MPC’s Refining Environmental Director. “Sustainability is embedded in their culture, and it is embedded in their practices. They are really living those values every day. This is a celebration for all of the hard work that they have done.”

A primary factor behind MPC’s energy efficiency for more than a decade has been its Focus on Energy program, which establishes key performance indicators to guide energy management across sites.

“At the Detroit refinery, we are proud of our efforts to conserve energy, reduce emissions and reclaim water, as well as our employees who make it happen,” said John Stefko, Detroit refinery General Manager. “It’s their ideas and innovations that keep us on the cutting edge. However, it is the relationships we have built with our local community members as a result of these efforts that make us feel very special.”

World Sight Day is Thursday, October 12 – a day to come together and celebrate the achievements of the entire eye health community and raise awareness of the important eye care issues on the horizon. This year, Orbis is focusing on saving the sight of our youngest patients.

We know how important good vision is to help young people make the most out of life. That’s why we’re committed to ensuring that no matter where a child is born, they can see the world around them.

And with the help of our caring supporters and partners like FedEx, we can continue to improve the quality of eye care available to children all around the world.

I’m writing this from Lusaka, Zambia where the Flying Eye Hospital team and I are working alongside Orbis Volunteer Faculty to improve the skills and expertise of our dedicated local partners.

These sight-saving projects are always such a thrill; we have some of the most experienced ophthalmologists and technicians from all over the world giving up their free time to share their skills with local eye teams. And of course, none of this would be possible without FedEx who donated the MD-10 aircraft itself.

It’s so great to be back in action after pausing all our in-person patient-focused Flying Eye Hospital projects between 2020 and 2023.

Our first project since the pandemic took place in May this year in Vietnam. Sponsored by FedEx, over 200 eye care professionals from across Vietnam received best-in-class training on board the plane. Nearly 150 children and adults received eye screenings and consultations, and 55 patients received sight-saving surgery.

And this was all thanks to FedEx. But of course, these numbers don’t tell the full human story of what happens on board the plane. When you see a child have her sight restored, and what it means to their family, it is such a moving thing to witness.

Young Han was the first patient on board the plane since the pandemic. The five-year-old had suffered from a drooping eye lid since birth. As a result, she was quiet and subdued and reluctant to play with other kids.

But the courage and strength she showed when she stepped on board the plane was remarkable. She wasn’t fazed at all. Han and her mother had travelled two hours by bike to be there, but it certainly wasn’t a wasted trip. The surgery was successful, and Han can now look forward to a future of healthy sight. When you see the joy on her face, and the love and warmth of her parents, you can’t help but feel grateful to everyone involved.

Of course, FedEx’s support goes well beyond donating the plane. We also benefit from vital aircraft parts, volunteer pilots, mechanical and aviation training; the list goes on and on. We’ve been saving sight together for more than 30 years. If that doesn’t show that FedEx cares, then I don’t know what does.

From myself, everyone at Orbis, and patients like Han, I’d like to say a big thank you to FedEx and its employees. You are helping children and adults around the world see a brighter future.

For World Sight Day 2023 Orbis are asking supporters to send a message of support to children like Han undergoing eye surgery. Visit orbis.org/SEELOVE to find out more.

Maurice Geary is the Director of the Orbis Flying Eye Hospital. He is a logistics and supply chain specialist with experience in both emergency and post-conflict zones. He has been saving sight with Orbis for more than 8 years.

Kimberly Parris is the passionate Founder of ‘Cuterie by The CaribDiva Company, a pioneering snack and prepared food subscription box brand committed to bridging the equity gap for underrepresented food entrepreneurs.

“I’ve always wanted to make a difference, to highlight others like me, as a Black woman, in spaces that rarely featured us. Throughout my career, I became an unintentional trailblazer, in that I was almost always the only Black woman chef in the restaurants I worked for. In my last restaurant, I became the first Black woman chef de cuisine they’d ever had, and I realized that my experience could not possibly be unique,” said Kimberly.

Kimberly’s inspiring journey, marked by innovation and inclusivity, experienced a pivotal moment when she participated in the Sky’s the Limit Pitch Event sponsored by Accenture. Here, mentors from Accenture and Dow collaborated to refine her presentation before the pitch competition.

The collaboration with mentors from Accenture and Dow was instrumental in fine-tuning Kimberly’s approach, equipping her with the confidence and expertise needed to secure the first position in the competition. Their support not only helped her refine her pitch but also paved the way for the hard launch of ‘Cuterie by The CaribDiva Company.

“Kristine Pelletier, Senior Technology Delivery Leader at Accenture and Amy Peters, Solutions Delivery Leader at Dow were my mentors as part of the pitch competition. They were great cheerleaders, but they also weren’t afraid to let me know where I could tweak certain things, which was wonderful. With Kristine and Amy’s help, I placed 1st in the pitch competition,” said Kimberly.

‘Cuterie by The CaribDiva Company stands as a testament to the power of mentorship, collaboration, and resilience. Kimberly, with the support of mentors from Accenture and Dow, is transforming her dream into a business that not only curates innovative and fun snacking options but also provides a platform for underrepresented entrepreneurs. Through her dedication, she continues to spotlight local BIPOC and women-owned businesses, fostering a community of support and collaboration that shapes the future of the culinary industry.

“As we celebrate National Women’s Small Business Month, Kimberly Parris and ‘Cuterie by The CaribDiva Company serve as an inspiring example of what happens when entrepreneurs are nurtured, empowered, and supported. There are no limits to what can be achieved,” said Laura Plato, Chief Operating Officer at Sky’s the Limit.

Read more about Kimberly’s inspiring success story and her organization here.

Sky’s the Limit offers opportunities for traditionally marginalized entrepreneurs – typically those who identify as LGBTQIA+, BIPOC, women, veterans, disabled people, and people from low-income backgrounds – to connect with mentors to come together to foster, grow, and shape modern and future enterprise. The organization has also provided over $450,000 in startup grants and educated tens of thousands of diverse entrepreneurs.

For more information about partnerships and how to get involved, please visit skysthelimit.org/partnerships.

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About SkysTheLimit.org: SkysTheLimit.org is a digital platform that connects young, historically excluded entrepreneurs with one-on-one support from experienced business advisors and mentors, entrepreneurship training, and community-voted startup grants. SkysTheLimit.org is a 501(c)3 nonprofit. 

Thanks to machinery from Case IH, a brand of CNH Industrial, sugarcane farmers in Thailand are anticipating a better-than-expected production year amidst labor scarcity and prolonged drought.

In the heart of central north-eastern Thailand’s sugarcane belt, the Chaiyaphum province, Rungruedee Wichanwong is harnessing the power of innovation through Case IH’s latest offering, the Austoft 9000 sugarcane harvester.

Thailand is the fourth largest sugar-producing country in the world. In recent years, because of labor scarcity and erratic weather patterns due to climate change, Thailand’s harvest period has shortened, and the quality and quantity of production has declined.

Rungruedee took the reins of her family’s agricultural business and currently manages their expansive 32-hectare farm, with approximately 6.5 hectares dedicated to sugarcane cultivation. In October 2022, her family ordered an Austoft 9000 to elevate productivity while cutting down costs.

Describing the challenges she faced, Rungruedee said, “Few people want to work in farming as the environment is challenging and the weather is hot. It could take days to harvest with manual labor, which results in high operational costs.”

“One of our drivers recommended the latest Austoft 9000, which is fully equipped with sensors. I researched the machine and tested its performance, such as its cane-cutting ability, and it responds very well to my needs,” she added.

Introduced to Thailand’s farmer communities in August 2022, the Austoft 9000 has elevated mechanised sugarcane harvesting to new heights with its powerful engine, intelligent hydraulic system, and a range of innovative features that substantially improve harvesting capacity while reducing operating costs.

“Cutting sugarcane manually used to take so much time. With the Austoft 9000, we save operational costs as work can be done in one day, reducing labor costs. This year’s harvesting will definitely be better.” Rungruedee said.

“We’re very pleased to know that the Austoft 9000 is solving problems and satisfactorily fulfilling the needs of our valued Thai customers like Rungruedee. All Case IH products are engineered to deliver unparalleled performance and reliability, empowering farmers and agri-businesses to embrace a cost-efficient and sustainable approach to harvesting,” Dithapan Hurakit, Case IH Southeast Asia Marketing and Technical Support.

Throughout the years, Case IH has been at the forefront of harvesting machinery product development for the sugarcane sector. CNH Industrial is proud to help farmers around the globe navigate environmental challenges with its state-of-the-art technology designed for efficient and sustainable farming.

Previously published by the Wall Street Journal

By Richard Vanderford

California is poised to force many private businesses to report on carbon emissions, dramatically increasing the number of U.S. companies that could be subject to some kind of U.S. climate reporting.

Gov. Gavin Newsom on Sunday said he would sign landmark legislation that would require businesses, including those privately held, to begin reporting on emissions if they operate in California and have at least $1 billion in revenue. In addition to their direct emissions, those businesses would have to account for emissions by suppliers and customers, so-called “Scope 3” emissions that are considered more nebulous and difficult to pin down.

Continue reading here.

Originally published by the Task Force on Climate-related Financial Disclosures on www.fsb-tcfd.org

NEW YORK, October 12, 2023 /3BL/ – Today, the Task Force on Climate-related Financial Disclosures (TCFD), established by the Financial Stability Board (FSB) in 2015, published its sixth and final status report.

“This final report makes clear that we’ve made tremendous strides in bringing greater transparency to financial markets for both climate related-risks and opportunities,” said Michael R. Bloomberg, Chair of the Task Force and Founder of Bloomberg L.P. and Bloomberg Philanthropies. “While there is still much more work to do, this progress provides the forward momentum necessary to more fully integrate climate data into the global economy and spur more private investment in clean energy. None of this would have been possible without the Financial Stability Board, its current and former Chairs, and its Secretariat, and we’re grateful for their partnership and support.”

Continue reading here