Corporate climate reporting lacking transparency on financial impact: EY

Read the full story at ESG Today.

Global professional services firm EY announced the publication of its annual Global Climate Risk Barometer report, analyzing the state of corporate climate disclosures. The study found a significant increase in TCFD-aligned reporting by companies over the past year, but a continuing shortfall of transparency into the financial impact of climate-related risks, and a disconnect between climate reporting and action on decarbonization.

A key issue raised by the report is the disconnect between an increased level of climate-related disclosure, and companies’ ability to provide transparency on the material climate-related information, with only 29% of companies referencing climate-related matters in their financial statements.

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