New climate risk push a game changer but investors call for mandatory rules
The risk of a devastating collapse in oil and gas companies’ share prices, when investors suddenly start pricing in climate change, is one scenario financial regulators are trying to ward off with the launch of new guidelines this week, which are a milestone in the world’s response to global warming.
The recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) were published for consultation on Wednesday, after a one year drafting process by leading financial and industrial firms, at the instigation of the G20’s Financial Stability Board (FSB).
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