Australia.
Offering commercial legal advice to not-for-profit organisations and social enterprises.
The Climate Measurement Standards Initiative (CMSI) is an Australian-first collaboration between climate scientists, insurers, and the finance sector. CMSI was established to produce guidance for assessing the physical risks of climate change to homes, buildings, and critical infrastructure and develop a set of open-source voluntary guidelines. These guidelines, for the first time, provide Australian banks, financial institutions, and insurers with consistent scientific and technical guidance on how to assess the risk of climate-related damage to real assets in their portfolios from extreme weather events. MinterEllison are the legal advisors to the initiative and are part of the Steering Committee.
Keith Rovers, Partner at Minter Ellison, noted that establishing the governance framework and cross sector collaboration to develop the guidelines and standard approaches is a critical piece of the information architecture to operationalise the Task Force on Climate-Related Financial Disclosures and other sustainability frameworks to marshal financing and resources to tackle climate related issues and the transition to a low carbon economy.
