Funded by: Fondazione Eni Enrico Mattei
March 2016 / December 2021

Disclosure, Measurement, Management and Mitigation of Climate Change Risk for Companies (DeRisk-CO)

This research and outreach project aims at engaging firms regarding the climate disclosure issue. In particular, throughout webinars, workshops policy briefs and scientific papers, DeRisk-CO intends to raise firms’ and financial operators’ awareness on climate-related risks and opportunities and their financial impact, contribute the scientific debate on the matter, and monitor the evolution of the scenario analysis tools and methodologies.
DeRisk-CO’s activities focus on four main themes – governance, strategy, risk management, metrics and targets – included in the Recommendations set by the Task Force on Climate-Related Financial Disclosure (TCFD, June 2017) of the Financial Stability Board (FSB), restated by the European Commission in “Guidelines on non-financial reporting” (2017/C 215/01) related to the 2014/95/EU Directive, then integrated by the update of the Non-Binding Guidelines on Non-Financial Reporting published by the European Commission (June 2019). In this framework, the project engages firms and financial operators, creating occasions during which the stakeholders can confront themselves on the best practices to integrate climate-related risks and opportunities assessment and management into their internal decision processes.

Ongoing Activities

  • Sustainable investment strategies and financial market evaluation
    DeRisk-CO intends to contribute the scientific debate regarding the evaluation that financial market give to listed companies. In particular, through the use of innovative research and analysis methodologies, the projects aims at providing evidence on the relationship that exists between firms’ sustainable investment strategies and their financial performance, especially for what concerns the abnormal return phenomenon;
  • Methodologies and Tools to Evaluate the Financial Impact of Climate-Related Risks and Opportunities using Scenario Analysis
    DeRisk-CO intends to shed light on the relevance of climate-related risks and opportunities’ financial impact assessment and management. To do so, the project creates a common field of discussion where stakeholders can confront themselves. In this framework, through webinars, workshops and policy briefs, DeRisk-CO aims at: (i) analysing and assessing tools and methodologies currently available for disclosing climate-related strategies that comply with the TCFD reporting framework; (ii) highlighting the need of a deeper level of transparency concerning climate-related risks and opportunities reporting; (iii) carrying out a constant monitoring activity regarding the evolution of European regulation, in particular for what concerns the implementation of the Action Plan on Sustainable Finance, the update of the Non-Binding Guidelines on Non-Financial Reporting, and the adoption of the European Green Deal.

In collaboration with: A2A S.p.A., Acea S.p.A., ANRA, Assicurazioni Generali, Barilla G. & R. F.lli, Cattolica Assicurazioni, Edison Spa, ERG, Hera S.p.A., Iren Spa, La Doria S.p.A., Leonardo, Pirelli & C. S.p.A., Prysmian S.p.A., SAIPEM SPA, Sorgenia Spa, Telecom Italia S.p.A., Unipol Gruppo, Utilitalia.

Project team
Project leader
Pareglio Stefano
Firms and Cities Transition towards Sustainability - FACTS Program Scientific Coordinator Read more

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