Most of the World's Biggest Public Companies Support Climate Risk Disclosure

By: Todd Gillespie, Bloomberg News
Oct 29, 2020 4:55 PM ET

A task force set up to improve the reporting of financial risks caused by climate change has seen support for its recommendations soar in the past year as demand grew from investors for more information on how a warming planet will affect business. But disclosures by companies on the financial impact remain low, according to a new report from the Task Force on Climate-related Financial Disclosures.

The group has urged businesses to measure and disclose how different climate outcomes might weigh on their performance. TCFD’s annual report, published on Thursday, found that over the past year support for its transparency practices jumped by 85%. More than 1,500 organizations, with a combined market capitalization of $12.6 trillion, have embraced TCFD’s recommendations. That includes nearly 60% of the world’s 100 largest public companies.

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