Posted on: 29/01/2019
This year’s annual reports from two-thirds of large British companies will contain details of their climate change risk and opportunities, according to the Carbon Trust.
However, the organisation warned that only 23% expect to issue reports that meet the recommendations of the G20 Financial Stability Board’s Task Force on Climate-related Financial Disclosures (TCFD), released in June 2017.
Some 72% of companies believe releasing climate change reports will improve their reputation.
One third expect financial benefits, including access to capital, lower costs of capital and strengthening credit ratings.
Raising company value
One fifth think that climate change reporting will increase the value of their company, while more than a third aim to avoid pressure from shareholders.
Hugh Jones, Managing Director – Business Services, at the Carbon Trust, said: “Incidents of extreme weather are increasing, the adoption of clean technology is accelerating, and more customers are changing their behaviour."
“For corporate leaders, going through the process of assessing their company’s climate change opportunities and risks is a vital strategic tool for navigating the necessary transition to a sustainable, low-carbon economy.”