Oil and gas, utility and materials companies in the US and Europe are failing to disclose the financial risk of climate change to their business, despite being recommended to do so by the Financial Stability Board's Task Force on Climate-Related Financial Disclosures 2017, according to Moody's Investors Service. Only two of the 28 companies analysed have linked their climate forecasts with cash flow and balance sheets, Moody's said.
Oil and gas, utility and materials companies in the US and Europe are failing to disclose the financial risk of climate change to their business, despite being recommended to do so by the Financial Stability Board's Task Force on Climate-Related Financial Disclosures two years ago, according to Moody's Investors Service. Only two of the 28 companies analysed have linked their climate forecasts with cash flow and balance sheets, Moody's said.