[ad_1]
Amazon, Facebook, Tesla and Berkshire Hathaway have not disclosed climate change data to their shareholders, according to the Coalition of Heavy Investors, which calls for 1,320 companies to provide clearer information on environmental risks.
Fear that climate change will cause catastrophic environmental damage is an acceleration of institutional investments and regulators ’efforts to accelerate companies’ goal of developing their own zero-carbon economy.
Before Cop26 climate conference Scheduled for November in Glasgow, 168 asset managers and financial institutions from 28 countries, which together represent more than $ 17 million in combined assets, have signed up to support a carbon outreach project campaign to ensure data on climate change, deforestation and water use. properly reported by companies.
According to the CDP, they believe they produce more than 4,700 megatons (Mt) of carbon dioxide emissions by 1,320 companies, more than the EU as a whole.
Emily Kreps, CDP’s director general of capital markets, said the tide is against companies that don’t respond to investors ’demands to raise awareness of environmental risks.
“This year’s campaign against non-disclosure has achieved a record level of support by increasing investor participation by 56%. Investors need consistent, comparable and comprehensive data to help them meet their zero-net intentions,” Kreps said.
U.S. regulators are in the midst of a heated debate over whether to impose formal disclosure requirements on U.S. companies on environmental, social, and metric governance.
It was signed by Amazon and Facebook letter telling the Securities and Exchange Commission this month that they support “regular and consistent reporting on climate issues,” has asked the U.S. regulator to have ESG data published separately from the company’s main financial reports to avoid legal issues.
“Compulsory ESG outreach is an essential planning tool that can help establish regulatory certainty and equality,” said Paula DiPerna, CDP North America’s special adviser.
Roche, a Swiss pharmaceutical manufacturer, Chipotle Mexican Grill, U.S. burrito chain and U.S. homebuilder Lennar are among the 73rd to provide inadequate information on three environmental issues highlighted by the CDP.
Requests for improved information were addressed to 122 Chinese companies, including Alibaba eCommerce Group, Kweichow Moutai, a distiller, and Meituan Dianping, China’s largest food delivery app.
Environmental disclosure standards show signs of improvement as a result of pressure from large investors. The CDP-coordinated campaign last year saw 206 companies respond to requests for information from investors, up from 97 in 2019.
But the financial sector needs to do more to achieve its goal zero carbon net economy According to the CDP, less than half of the banks, asset managers and insurers are taking steps to ensure that their investment portfolios are in line with global temperature rise limits.
Amundi, Aviva, Cathay Financial, HSBC Global Asset Management, Legal & General, Nuveen and Schroders have promised support for the CDP campaign.
[ad_2]
Source link
