Feel the heat: climate change reporting
Campaign group ClientEarth has made formal complaints against two energy companies, claiming they failed to properly address climate risk in their annual reports. David Cooke, a lawyer with ClientEarth, explains why.
Pressure is building on carbon-intensive companies to disclose their climate-related risks to investors.
A total of 130 investors with more than $13tn in combined assets under management (AUM) recently recommended just that, when they urged G20 leaders to push national financial regulators to "require disclosure of material climate risks".
This came amid ever-increasing regulatory scrutiny of climate risk disclosures. The Financial Stability Board has established a task force on climate-related financial disclosures, and the New York Attorney General (NY
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