Business group standards aim to help firms account for nature-related risks

By Isla Binnie NEW YORK - An international working group of 40 business and finance executives on Monday presented companies with guidelines on explaining to investors their dependence onNEW YORK - An international working group of 40 business and finance executives on Monday presented companies with guidelines on explaining to investors their dependence on ecosystems in a bid to better manage nature-related risks.

Tony Goldner, executive director of the TNFD, said that while the risks of climate change have long been a focus of many companies, the wider state of nature is beginning to be looked at."We are providing a toolbox," Goldner said."Some companies have told us their estimations of their nature risk are larger than their climate risks."

The guidelines aim to get companies to report their nature risks in ways that mirror their financial and economic reporting that for decades have been part of regular corporate operations. Both the climate and nature frameworks urge companies to choose appropriate indicators to measure, monitor and report their risks."Take bush fire risk to Californian utilities ...

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Canadian lender BMO to wind down retail auto finance businessBank of Montreal (BMO) is winding down its retail auto finance business and shifting focus to other areas in a move that will result unspecified number of job losses, Canada's third largest bank said on Saturday. The move, applicable in Canada and the United States, comes after BMO's bad debt provisions in retail trade surged to C$81 million ($60 million) in the quarter ended July 31 compared with a recovery of C$9 million a year ago, in a sign of growing stress consumers face from a rapid rise in borrowing costs. 'By winding down the indirect retail auto finance business, we have the ability to focus our resources on areas where we believe our competitive positioning is strongest,' BMO said in a statement to Reuters.
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Canadian lender BMO to wind down retail auto finance businessBy Nivedita Balu TORONTO (Reuters) - Bank of Montreal (BMO) is winding down its retail auto finance business and shifting focus to other areas in a ...
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Bank of Montreal to close retail auto finance business, flags job lossesThe move comes after BMO’s bad debt provisions in retail trade surged to $81 million in the quarter and is a sign of growing stress consumers face from a rapid rise in borrowing costs
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