London — Companies are failing to disclose sufficient detail about how exposed they are to the potential risks of climate change, a global task force says in a new report.
The task force on climate-related financial disclosures, set up by the G-20’s financial stability board, found in its report that climate-related disclosure has improved since 2016 but only about a quarter of companies disclosed information aligned with more than five of the task force’s 11 recommendations.
The task force published its second status report on Wednesday, showing 785 companies and organisations, with a combined market capitalisation of more than $9.2-trillion, have committed to supporting the task force framework, a more than 50% increase from the first status report published in September.