Market regulators and economic officials in the U.S. and abroad are busy discussing possible new rules for reporting climate-related risks that companies face. As environmental and energy policies continue to evolve, new costs for business could include taxes on carbon emissions and expanded use of so-called carbon markets, in which emissions allowances are traded. Many government officials, meanwhile, are concerned not just about the threat of such costs for individual companies, but the threat for entire financial systems. Among the most closely watched developments: a broad effort under way by the U.S. Securities and Exchange Commission to re-examine its disclosure rules for public companies, including whether to require mandatory disclosure of risks related to climate change.
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