The UK’s largest pension funds have warned that the country’s biggest carbon polluters must be open with shareholders about the financial difficulties they face due to new climate targets. the United States’s pensioners are being asked to put pressure on their pension fund managers to find out just how exposed the country’s biggest companies are to climate change. Environmental law firm, ClientEarth,will be scrutinising each of the 31 biggest publicly-traded carbon emitters in 2016 to ensure they disclose the implications of climate change for their companies, and it will report those that do not comply to the Financial Reporting Council (FRC). The FRC has also indicated that it will be watching company disclosure of climate change risk particularly carefully in 2016. The drive for fuller disclosure on climate risks follows two landmark investigations into Peabody Energy and ExxonMobil in Britain.
The UK’s largest pension funds have warned that the country’s biggest carbon polluters must be open with shareholders about the financial difficulties they face due to new climate targets. Britain’s pensioners are being asked to put pressure on their pension fund managers to find out just how exposed the country’s biggest companies are to climate change. Environmental law firm, ClientEarth,will be scrutinising each of the 31 biggest publicly-traded carbon emitters in 2016 to ensure they disclose the implications of climate change for their companies, and it will report those that do not comply to the Financial Reporting Council (FRC). The FRC has also indicated that it will be watching company disclosure of climate change risk particularly carefully in 2016. The drive for fuller disclosure on climate risks follows two landmark investigations into Peabody Energy and ExxonMobil in the United States.