Yesterday, the UK Environmental Audit Committee released its latest report “Greening finance: embedding sustainability in financial decision making”, as a result of its Green Finance Inquiry into climate change reporting regulation.
CDSB supports the findings of the report, in particular as it calls for the UK government to make climate risk reporting to be mandatory as the most likely way to “see comprehensive and comparable climate risk disclosures.”
The 2022 deadline indicated in the report could pose financial risks by shortening the timeframe for the market to offload climate-related risks. We advise the UK Government or the FRC to undertake an annual review of companies’ reporting on climate change, starting in 2018.
Read our response here