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Companies Must Disclose Climate-change Risk: Carney Panel

SOURCE: Bloomberg


Corporations, especially those in the financial and energy sectors, should provide investors with clear and systematic disclosure of the risks that climate change poses to their future economic health, a task force reporting to Bank of England Governor Mark Carney recommended Wednesday.

The group, headed by Bloomberg LP founder Michael Bloomberg, pointed to carbon-intensive, fossil-fuel companies as being among those that will be most significantly affected by the transition to a lower-carbon economy, with risks being borne by their lenders and investors.

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KEYWORDS: Business & Trade, Energy, tcfd, tcfdrecs, Task Force on Climate-related Financial Disclosures, Bank of England, Mark Carney, esg, risks, G20, group of 20, FSB, investors, Bloomberg, Michael Bloomberg, Financial Stability Board

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