More Climate Change Disclosures Needed in Financial Filings

NEWS: Companies should report their climate risk exposure to avoid legal issues faced by Peabody and Exxon, says lead analyst

Source: Bloomberg climate taskforce to target financial filings | Climate Home – climate change news

michael-bloombergAs companies like Peabody Energy and Exxon Mobil face legal probes over allegedly lying about their exposure, it reinforces moves for greater transparency.  In its first report on Friday, the taskforce emphasised the need to incorporate global warming threats into financial reports.  “That is a big deal,” Curtis Ravenel, a Bloomberg executive on the taskforce’s secretariat told Climate Home. “Once it goes into financial filings, there is all sorts of oversight for companies. The point is to try and institutionalise thinking on this at board level.”

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