Exxon began informing
investors about climate risks in 2007 in regulatory filings and corporate citizenship reports.
«Carbon Tracker is able to be more effective at informing
investors about climate risk and influencing their actions than traditional investment banks,» he said.
Not exact matches
For some months, ExxonMobil Inc. (xom) has been under investigation
about allegations that it lied to
investors about the
risks of
Climate Change.
He said the
risk applied equally to companies, especially those that have been in denial
about climate change
risk to their business, and
investors, some of which had been pressuring companies to lift their game on carbon
risk disclosure but still had a long way to go themselves.
Peabody Energy has a responsibility to be honest with
investors and the public
about the
risks posed by
climate change, New York Attorney General Eric T. Schneiderman said in announcing the settlement with Peabody Monday.
Investors are expecting more quantified financial information
about climate risks and opportunities, in mainstream financial filings.
A small but growing number of countries now have legal requirements for institutional
investors to report on how their investment policies and performance are affected by environmental factors, including South Africa and, prospectively, the EU.36 Concern
about the
risks of a «carbon bubble» — that highly valued fossil fuel assets and investments could be devalued or «stranded» under future, more stringent
climate policies — prompted G20 Finance Ministers and Central Bank Governors in April 2015 to ask the Financial Stability Board in Basel to convene an inquiry into how the financial sector can take account of
climate - related issues.37
New York Attorney General Eric T. Schneiderman has accused ExxonMobil of lying to the public and
investors about the
risks of
climate change according to the NY Times and has launched an investigation and issued a subpoena demanding extensive financial records, emails and other documents.
Investors in oil and gas companies have been in the dark
about their exposure to
climate risk, but they will now be able to confront companies with precise information and ask hard questions
about how they intend to deal with potentially stranded assets.»
The announcement follows an increasing awareness among
investors about the
climate change impact of their assets, and their interest in reducing related investment
risk.
Investors are taking note of how serious companies are
about mitigating business
risks relating to
climate change.
In response to growing calls from
investors and mounting concerns
about so - called carbon bubble
risk, the TCFD earlier this year recommended that listed firms publicly report on how
climate change and the low carbon transition could affect their business.
Advocates of
climate - related reporting maintain that
investors are not being adequately informed
about the considerable
risks businesses face from
climate change.
Massachusetts Attorney General Maura Healey and New York's Attorney General's Office are investigating whether Exxon misled
investors and the public
about climate change
risks.
Prosecutors want to see if the company lied to the public
about the
risks of
climate change or to
investors about how such
risks might hurt the oil business.
The office of New York Attorney General Eric Schneiderman sent a subpoena to oil company ExxonMobil
about its alleged cover - up of
climate change
risks to the public and its
investors.
In a blockbuster story, The New York Times reported that New York Attorney General Eric Schneiderman has subpoenaed oil and gas industry giant ExxonMobil to «determine whether the company lied to the public
about the
risks of
climate change or to
investors about how those
risks might hurt the oil business.»
The state attorneys general of New York and Massachusetts, meanwhile, are investigating whether Exxon misled
investors about its
risks from
climate change.
Attorneys general in states like California, Massachusetts, and New York will also move forward with their investigations into ExxonMobil's tobacco - style efforts to mislead
investors and the public
about the
risks of
climate change.
Both MRC and CFACT have previously accepted grants from oil company ExxonMobil, which is currently under investigation by the New York attorney general for allegedly lying
about the
risks of
climate change to the public and
investors.
«It's critical that industries and
investors understand the
risks posed by
climate change, but currently there is too little transparency
about those
risks,» said Bloomberg.
Peabody Energy, the world's biggest private sector coal company, has agreed to make more robust disclosures to its
investors about the financial
risks it faces from future government policies and regulations related to
climate change and other environmental issues that could reduce demand for its product.
Carbon Tracker welcomes the Task Force's recognition that meaningful
investor engagement with boards and management on
climate risks requires more informed discussion
about how these
risks may impact a business.