Major Firms Pledge Climate Change Disclosure as ‘Fiduciary Duty’
A group of 70 major companies and investors, including Honda, Deloitte and Unilever, have committed to report climate change in corporate reports as a matter of fiduciary duty.
In a statement, the companies and investors say “financial markets do not yet take sufficient account of climate-related corporate performance, risks and opportunities relevant to future shareholder value because of a lack of comprehensive and comparable information in ‘mainstream’ corporate reports for the investment community.”
To this end, the signatories pledge to report this information using the Climate Disclosure Standards Board’s Climate Change Reporting Framework or comparable framework.
The statement was convened by CDSB, with the support of the UNEP Finance Initiative. It coincides with the UN Climate Summit yesterday, at which 120 global heads of state and business leaders convened in New York City to discuss efforts to combat global warming.
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