G7 nations back move to make it mandatory for companies to disclose their climate risk

The wealthy G7 countries on Saturday moved closer to mandatory disclosure of companies' climate impact despite a lack of global agreement and doubts from some NGOs.

Such regulations would help companies assess the financial impact of the climate crisis and make necessary changes as their countries set ambitious targets such as becoming carbon neutral by 2050.UN warns of 'point of no return' on climate change as Australians mark World Environment Day The finance ministers went even further by hailing the creation of a taskforce on nature-related financial disclosures, which covers not only the climate but also nature and biodiversity.

"Proper disclosure should become mandatory - I would expect this as a first step," Mr Villeroy told the newspaper. "Ensuring high-quality and comparable data on the impact of climate change lies at the heart of this," said Chris Cummings, CEO of the IA.For their part, NGOs warn that the latest measure is no guarantee that the business world will play its part in energy transition.

This is how I see this working. Niky sneakers made from rubber by child labor in sweat shops = minus 30 points. People running to work in niky sneakers instead of driving = plus 100 points. $70m rebate to Niky Good work G7

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