Taskforce identifies barriers to climate reporting
Short-termism and low awareness or skepticism about the risks it poses for business are among barriers to corporate disclosure on climate change, according to a global taskforce.
The Taskforce on Climate-related Financial Disclosures (TCFD) was asked by the G20 group of nations to develop recommendations to improve the clarity and consistency of corporate climate reporting to make the information more useful to lenders, insurers and investors. The former mayor of New York City, Michael Bloomberg, chairs the taskforce.
Findings from a consultation held earlier this year reveal several barriers to disclosure, including technical issues, such as a lack of clarity over what should be reported and the absence of a universal price ...