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Summary GARP-SCR Notes Chapter 2: Comprehensive Guide to Risk Management and Compliance
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GARP-SCR Notes Chapter 2: Comprehensive Guide to Risk Management and Compliance | GARP SCR 2024
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GARP - SCR Chapter 2 20231. Sustainability: humanity meeting its current needs without
overburdening the natural environment or future generations; includes
environmental, social, and eco-nomic aspects
2. Brundtland Commission: Final report in 1987 inspired today's definition
of sus- tainability: development that meets the needs of the present without
compromisingneeds of future generations
3. CSR: companies undertaking social/environmetnal activities for the
benefit ofsociety
4. ESG - background: Coined in 2005 report by the UN Global Compact, &
en- dorsed by investment firms; embedded into UNPRI in 2006; used to gauge
compa-nies performance
5. ESG - definition: Set of standards by responsible investors to gauge
compa- nies—and sometimes other entities such as governments—on their
environmental,social, and governance performance
6. How are ESG scores primarily used?: ESG scores and metrics are
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,then usedby financial firms in various ways such as underwriting and investing.
Ex: in screening companies for inclusion in ESG investment funds
7. Relationship between climate change and ESG: climate is not exclusively an
ESG issue. The impact of climate change affects all stakeholders including those
not currently acting in sustainable ways
8. SDGs: United Nations' Sustainable Development Goals (SDGs), launched in
2015 as part of the UN's 2030 Agenda for Sustainable Development. to shape global
policy & private-sector action
9. Why is the 2030 Agenda / SDGs successful?: The success of the 2030 Agenda
so far is that it manages to be broad, all-encompassing, and detailed. At its heart lie
17 Sustainable Development Goals (SDGs).
The 17 goals are also subdivided into 169 targets, which provide specificity.
The broad scope of the SDGs has allowed a wide range of stakeholders to find
strong agreement around at least some of the goals
10. Agenda 21: 178 countries adopted this plan at the Earth Summit in 1992;
this was a plan for global partnership on sustainable development. Kicked off the
UN Franework Convention on Climate Change and the COnvention on Biological
Diversity
11. UNFCCC: UN Framework Convention on Climate Change; coordinates commu-
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, nication between the IPCC and governments. All major climate policy agreements
occur under this body
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