Investors push for more climate transparency
An investor coalition with nearly $10trn in assets has launched a fresh push to ensure hundreds of companies are transparent about their environmental impact.
The group is targeting 707 firms with $15.3trn in market capitalisation across 46 countries, demanding they report through the non-profit global environmental disclosure platform CDP.
Exxon Mobil, BP, Chevron, Amazon, Volvo, Alibaba, Qantas Airways and palm oil company Genting Plantations are among the companies under the microscope.
The 88 investors will engage with 546 of the companies on climate change disclosure, with 166 being targeted for water security transparency, and 115 on deforestation.
“Investors are asking for this information and using it for corporate engagement, selecting stocks and building investment products,” CDP global director of investor initiatives, Emily Kreps, said. “The ‘vow of silence’ from non-disclosing companies cannot go on.”
The services industry is the sector being most targeted for climate change disclosures, followed by manufacturing and fossil fuels. Retail, food, beverage and agriculture and manufacturing are the sectors of most interest for deforestation transparency, while water security concerns are most prevalent in manufacturing, retail and fossil fuels.