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According to the League of Heavyweight Investors, Amazon, Facebook, Tesla and Berkshire Hathaway failed to report climate change data to their shareholders, and the alliance requires 1,320 companies to more clearly disclose environmental risks.
Concerns that climate change will cause catastrophic environmental damage have prompted institutional investors and regulators to require companies to accelerate their efforts to achieve the goal of a net-zero-carbon economy.
be ahead of COP26 Climate Conference Planned to be held in Glasgow in November, 168 asset management companies and financial institutions from 28 countries/regions with a total asset of more than US$17 trillion have signed up activities to support the carbon information disclosure project to ensure climate change, deforestation and Data on water use has been properly processed. The company reports correctly.
According to CDP, 1,320 target companies are estimated to generate more than 4,700 megatons (Mt) of carbon dioxide emissions, more than the entire European Union.
Emily Kreps, global director of CDP Capital Markets, said the trend is shifting to companies that have not responded to investors’ demands for better disclosure of environmental risks.
“This year’s anti-confidentiality campaign has received record support and investor participation has increased by 56%. Investors need consistent, comparable and comprehensive data to help them achieve their net zero goals,” Kreps said .
U.S. regulators are actively debating whether to implement formal environmental, social, and governance indicator disclosure requirements for U.S. companies.
Amazon and Facebook signed an agreement letter Speaking to the US Securities and Exchange Commission this month that they support “regular and consistent reporting of climate-related matters,” while also urging US regulators to allow ESG data Separate publication From the company’s main financial report to avoid possible legal issues.
“Compulsory ESG disclosure is an essential planning tool that can help establish regulatory certainty and a level playing field,” said Paula DiPerna, CDP’s North American Special Advisor.
Roche, Swiss pharmaceutical company, Chipotle Mexican Grill, American burrito chain and American home builder Lennar are the 73 laggards, and they do not adequately disclose all three environmental themes highlighted by CDP.
The requirements for improved information disclosure also target 122 Chinese companies, including e-commerce group Alibaba, Kweichow Moutai, brewers and China’s largest food delivery app Meituan Dianping.
Due to pressure from large investors, there are signs of improvement in environmental information disclosure standards. Activities coordinated by CDP last year resulted in 206 companies responding to investor disclosure requirements, compared with 97 in 2019.
But the financial sector must do more to help achieve Net zero carbon economy According to CDP, less than half of banks, asset management companies, and insurance companies take steps to ensure that their investment portfolios meet the limits of rising global temperatures.
Amundi, Aviva, Cathay Pacific, HSBC Global Asset Management, Legal & General, Nuveen and Schroders have pledged to support CDP activities.
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