Commentary & Analysis
Yesterday, President Obama and the U.S. Environmental Protection Agency announced the Clean Power Plan. It’s an important set of initiatives to allow the United States, a nation with one of the world’s highest per capita rates of energy use and the nation with the biggest carbon footprint since the industrial revolution, to continue to demonstrate leadership on climate change. EPA Administrator Gina McCarthy explains this in her six-point overview.
I think the most important aspect of today’s announcement is not about what is happening in Washington D.C., but rather what will happen in Paris in December of this year. There, the nations of the world will gather to decide collectively how they will reduce greenhouse gas emissions to keep average global temperature increases to levels which don’t result in catastrophic damage to our coastlines, biodiversity, and human health.
As part of an upcoming Thomson Reuters feature called “Seven Reasons the World will be Sustainable,” to be released in full in September, we recently sat down with Joel Beauvais, Head of Policy at the EPA. In this excerpt, Joel describes some of what the United States is doing to really lead on climate change, and how important this is for success globally.
If the U.S. doesn’t lead with credibility, other nations can much more easily take the same “wait and see” approach. Without this leadership, we won’t have a credible global agreement on greenhouse gas reduction. This proposal is not just a clean power plan, it’s a clean planet plan.
The Russian sanctions have brought the whole concept of sanction screenings into a world where traditionally people didn’t pay much attention to it. Now they have taken on a whole new complexion with the inclusion of narrative and ultimate beneficial ownership requirements. Are you prepared for the effect on compliance?
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We recently launched our newest podcast, Mind Your Business, a regular review on the intersection between Corporate Responsibility and Inclusion and modern business. It’s hosted by Patsy Doerr, global head of Corporate Responsibility and Inclusion at Thomson Reuters.
The first episode takes a broader look at our own Corporate Responsibility and Inclusion structure, then Patsy is joined by James White, Global Diversity & Inclusion at Credit Suisse. Listen here: (more…)
By Conor Coughlan, Global Head, Proposition Marketing, Thomson Reuters
In this fast paced world, where we face what seems to be an ever growing regulatory landslide, not sinking into the earth or being swept away but actually staying on top of all the necessary changes, is a major challenge. Recently you may have noted my focus on Solvency II, which is due to be implemented across the European Union and (EEA) from January 2016 onwards. Don’t be fooled into thinking this is just a matter for European firms because it has many implications for American or Asian insurers who have European subsidiaries!
Described by many as the “Basel for Insurers” Solvency II is a beast of a regulation. It has a complex structure, with a three pillar alignment and its requirement for entirely new or consolidated data sets and reporting models means it’s a ‘game changer’ for the insurance sector and their service providers.
When we first started tracking Solvency II we were surprised at how revolutionary but warranted the regulation would be.
I was personally surprised at how infrequent insurance firms had to report on their holdings (in the past) and that many did not know what funds they had ultimately invested in.
Equally it was clear that this regulation would not only impact Insurers but also their asset managers and their related asset servicers’ (fund administrators & custodians).
In many ways the entire investment supply chain in the insurance industry now has to change to meet these far reaching regulatory obligations.
The UK Hydrographic Office has been creating charts (no they are not maps!) of the sea for the last 200 years and in the process has gained the best global coverage and the highest levels of trust amongst its customers – the Royal Navy and merchant shipping. Marine charts have been paper-based for the majority of the last 200 years, each one in the world series having a particular fold, not only suited to the cartography particular to the area of ocean in question, but also to the chart table and chart storage drawers on the ship.
As a newly appointed non-executive director of the UKHO, I could see the parallels between chart creation and financial data management. Both industries are impacted by regulation: the shipping industry has regulations regarding the carriage of up to date charts as part of their obligation towards Safety of Life at Sea (SOLAS); and digital charts are now mandated, the regulation being phased by tonnage. Clearly collecting reliable data is important, as is processing it and ensuring the resulting chart is accurate – mariners lives depend on knowing where the rocks are. There are charting acronyms too – “UBO” is an Unidentified Bottom Object – an unidentifiable something at the bottom of the sea. (more…)
“Global Risks 2015 Report” (WEF) lists spread of infectious diseases as one of the main threats to the “smooth functioning of global supply chains.” Organizations that are aware of supply chain challenges and take proactive measures to address them and eliminate related potential risks are in a much better position to increase their profits, avoid reputational damage and overall operate more efficiently.
Watch our two minutes video explaining how to be prepared for the risks of commodities supply chain disruptions:
A new report from Thomson Reuters, Standard Chartered, the Atlantic Council and the City of London explores how China’s currency impacts global markets, foreign policy and transatlantic financial regulation
Being curious people and deeply involved and enabling the intersection of currencies, commerce, regulation and development, we asked ourselves: “What does the rise of the renminbi (RMB) really mean for financial markets and centers, regulatory development, investment inside and outside and foreign policy?”.
Others too were interested in this question and we partnered with Standard Chartered, the Atlantic Council, and the City of London to jointly research and understand these questions and gain greater insight, awareness and profile for our businesses globally