G20 Task Force Wants Companies to Come Clean on Climate Risk

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G20 Task Force Wants Companies to Come Clean on Climate Risk

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Monday, December 26, 2016 - 5:50pm

A global task force set up to try to prevent market shocks from the warming of the planet will ask companies to disclose how they manage risks to their business from climate change and greenhouse gas emission cuts.

Although the measures recommended by the Task Force on Climate-Related Financial Disclosures (TCFD) are voluntary, some of its members argue they should become mandatory.

"Only then will climate risk become integral to corporate governance and how we all do business," Mark Wilson, chief executive of insurance firm Aviva Plc, said in a statement.

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Keywords: Responsible Business & Employee Engagement | Bloomberg | Energy | Environment | FSB | Financial Stability Board | G20 | Responsible Production & Consumption | Sustainable Finance & Socially Responsible Investment | Task Force on Climate-related Financial Disclosures | esg