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. The report found that more than half (53 per cent) of energy companies, utilities or material suppliers did not provide information about how much they were expected to pay for carbon dioxide emissions over a 20-year
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.