Bank of England Governor Mark Carney said he’s concerned investors aren’t doing enough to assess threats that global warming will have on assets they purchase.
LONDON—Companies should publish an assessment of the losses they could suffer through climate change as part of their routine financial statements, according to a panel of financial and business executives chaired by Michael Bloomberg.
Energy companies should consider telling investors how executive compensation is linked to climate change risks, according to a panel advising the Group of 20 nations.
Firms must discuss the impact of specific climate change scenarios in their financial statements to ensure transparency, report says
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Mark Carney backed a raft of new measures to ensure businesses and investors do more to combat the “tragedy” of climate change.
The recommendations, published by an international task force headed by billionaire New York City mayor, Michael Bloomberg, said investors need more information about the risks companies face from global warming so they can properly allocate funds.
The campaign follows comments by Bank of England governor Mark Carney
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An international alliance of over 100 MPs from 34 different countries have written to the world’s stock exchanges calling on them to factor in the financial risks of climate change.
Mark Carney said today that investors “currently don’t have the information to respond to these developments”.
2016 began - as recorded here on Forbes - noting that climate change was becoming very real in the financial world. As we head towards the end of what has been a tumultuous year, the Financial Stability Board (FSB) is clear the message needs to be reinforced, not dismissed.
