U.K. Business, Politicians Back Environment-Risk Reporting Push

U.K. businesses, accountants, and politicians broadly endorsed the government’s plan to require public companies to detail climate-related risks in their financial reports.

But the accounting profession also said standard measurement practices for climate risks still need to be developed.

The Treasury and the Department for Business, Energy & Industrial Strategy published a Green Finance Strategy July 2 designed to help the U.K. become carbon neutral by 2050 and to turn London into a center for green investment. It said climate disclosure could be made mandatory, with expectations for listed companies and pension funds to disclose climate-related risks from 2022.

“The ...