a:2:{s:4:"TEXT";s:1374:"

On January 19, 2023, the Moscow Exchange presented an updated version of the ESG practices guide "Issuer's Guide on compliance with the best sustainable development practices". The guide is addressed to issuers who strive to follow the principles of sustainable development, seeing an additional growth factor in the integration of ESG principles.

Horizon CF was an author of a new section of the guide – TCFD: disclosure of climate risks and opportunities.

The TCFD recommendations have become the accepted global standard for company disclosure of financial information on climate risks and opportunities. This is primarily the disclosure of a financial assessment of the impact on the company's operations of the risks and opportunities arising from climate change, including the impact of government programs and regulations introduced to reduce greenhouse gas emissions. The adopted regulation and the new international standards, which are being developed for the disclosure of financial information on sustainable development, extend the TCFD approaches not only to climate reporting, but also to other aspects of sustainable development.

";s:4:"TYPE";s:4:"HTML";}

The number and quality of reports prepared on TCFD recommendations is increasing because of a more responsible attitude to climate issues, under the pressure of government climate programs and in response to investors’ information requirements. Despite the noticeable progress of some Russian issuers in implementing the TCFD recommendations, most of them are still at the initial stages of developing and adjusting the corresponding processes. Exchange of experience and involvement of expertise can be useful for the successful solution of these challenges.

Olga Ponomareva, Executive Director of OOO Horizon CF

The section discusses approaches to TCFD disclosure, the integration of TCFD recommendations into information disclosure regulation in foreign financial markets and in Russia, the features and difficulties of its practical application.

In addition to TCFD disclosure, the new guide presents current ESG trends, an overview of the Russian carbon units exchange trading, instructions for the release of financial ESG instruments in the Moscow Exchange Sustainability Sector, reveals new aspects of sustainable development through the maintenance of biodiversity and supply chain management.

The updated ESG guide is published on the Moscow Exchange website.