Australia’s biggest businesses are not taking action to counter the risks of climate change and are failing to heed calls from regulators and investors to do more, according to a report by environmental campaign group ASIC. The study, which looked at publicly-available data from 72 listed companies, found only 57% see climate change as a material business risk. While many companies made general statements about the risk of climate change, a minority disclose detailed information about how they would mitigate risk, for example, sharing by plans to meet the Paris Agreement goals or to reduce greenhouse gas emissions.
Australia’s biggest businesses are not taking action to counter the risks of climate change and are failing to heed calls from regulators and investors to do more, according to a report by environmental campaign group Market Forces. The study, which looked at publicly-available data from 72 listed companies, found only 57% see climate change as a material business risk. While many companies made general statements about the risk of climate change, a minority disclose detailed information about how they would mitigate risk, for example, sharing by plans to meet the Paris Agreement goals or to reduce greenhouse gas emissions.