Bloomberg Tax
Sept. 15, 2021, 7:01 PM

Most Firms Don’t Admit Climate Risks in Financial Statements

Michael Kapoor
Michael Kapoor
Freelance Correspondent

Few big companies admit to climate-related risks in their financial statements, even when they discuss them in other reports, according to a new study.

The study released Wednesday by two financial think tanks, the Carbon Tracker Initiative and the Climate Accounting Project, found that more than 70% of the global companies analyzed— including energy firms Chevron and Exxon Mobil—didn’t say whether they’d taken climate risks into account for their 2020 financial statements. This is even after they’d discussed them in management commentaries and other documents.

The think tanks reviewed 107 global companies in big-polluting areas such as energy and transport. ...

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