127899
  • Log in
The Daily Sceptic
No Result
View All Result
  • Articles
  • About
  • Archive
    • ARCHIVE
    • NEWS ROUND-UPS
  • Forum
  • Donate
  • Newsletter
The Daily Sceptic
No Result
View All Result

U.K. Companies Threatened With ‘Action’ if They Downplay Climate Risk

by Toby Young
30 July 2022 7:00 AM

Some of Britain’s top listed companies are accused of downplaying climate risks from climate change on their bottom line and could face “appropriate action”, financial regulators said on Friday. Reuters has more.

Trillions of dollars have flowed into stocks and bonds of companies which tout their environmental, social and governance (ESG) credentials, leaving regulators worried about “greenwashing” or companies flattering their green profile to attract investments.

Companies listed on the London Stock Exchange’s premium market have been required since 2021 to make climate-related disclosures to investors in line with the global Taskforce on Climate-related Financial Disclosures (TCFD) – or to explain why they have not.

Britain’s Financial Conduct Authority, which regulates listings, and audit watchdog the Financial Reporting Council (FRC) published reviews on Friday of how companies have applied TCFD so far.

The FRC said it found companies were providing many of the TCFD disclosures, marking a significant improvement on previous years, but more was needed to be done.

Britain was the first major economy to make TCFD disclosures mandatory, and the FCA said it also found a significant increase in the quantity and quality of disclosures.

“However, it also found instances where companies said that they had made disclosures consistent with the TCFD’s recommended disclosures when it appeared they had not,” the regulators said in a joint statement.

“We are considering these cases in more detail and may take action as appropriate.”

As a first step, regulators are likely to ask some companies why some disclosures were missing or too vague, or why they were stressing opportunities from climate change but giving little detail on risks to the business.

If companies deliberately mislead investors that would be a breach of conduct rules and could result in fines in future, people with knowledge of the matter say.

“We also encourage companies to look ahead to the future implementation of reporting standards in development by the International Sustainability Standards Board (ISSB),” said Sacha Sadan, the FCA’s director of ESG.

Worth reading in full.

Tags: climate changeESGFinancial Reporting CouncilLondon Stock Exchange

Donate

We depend on your donations to keep this site going. Please give what you can.

Donate Today

Comment on this Article

You’ll need to set up an account to comment if you don’t already have one. We ask for a minimum donation of £5 if you'd like to make a comment or post in our Forums.

Sign Up
Previous Post

News Round-Up

Next Post

New Data From the Netherlands Reveals Link Between Higher Vaccine Uptake and Higher Mortality

Subscribe
Login
Notify of
Please log in to comment

Profanity and abuse will be removed and may lead to a permanent ban.

13 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

NEWSLETTER

View today’s newsletter

To receive our latest news in the form of a daily email, enter your details here:

 

DONATE

PODCAST

Nick Dixon and Toby Young Talk About Trump’s Arrest, the Police’s Preference for Wokery Over Free Speech and the Glorious Implosion of the SNP

by Will Jones
21 March 2023
1

LISTED ARTICLES

  • Most Read
  • Most Commented
  • Editors Picks

News Round-Up

22 March 2023
by Will Jones

Latest UN Climate Doom Report Falsely Claims Global Temperatures Are “Highest for 125,000 Years”

21 March 2023
by Chris Morrison

The WHO’s Proposals for Future Pandemics Are Almost Everything Bill Gates Demanded

22 March 2023
by Eugyppius

Boris Makes His Partygate Defence

21 March 2023
by Will Jones

Is the Met “Institutionally Racist”?

21 March 2023
by Will Jones

News Round-Up

88

The WHO’s Proposals for Future Pandemics Are Almost Everything Bill Gates Demanded

28

Latest UN Climate Doom Report Falsely Claims Global Temperatures Are “Highest for 125,000 Years”

40

Is the Met “Institutionally Racist”?

24

Government Makes Laughable Claim the MHRA is “Globally Recognised for Requiring High Standards of Safety and Effectiveness”

60

When Will They Ever Learn?

22 March 2023
by Thorsteinn Siglaugsson

The Gary Lineker ‘Crisis’ is a Distraction From the Real Problem with the BBC

22 March 2023
by Dr David McGrogan

Activism at Scientific Journals Breeds Distrust Among the Public

22 March 2023
by Noah Carl

Is the Met “Institutionally Racist”?

21 March 2023
by Will Jones

Latest UN Climate Doom Report Falsely Claims Global Temperatures Are “Highest for 125,000 Years”

21 March 2023
by Chris Morrison

POSTS BY DATE

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun   Aug »

SOCIAL LINKS

Free Speech Union
  • Home
  • About us
  • Donate
  • Privacy Policy

Facebook

Twitter

Instagram

RSS

Subscribe to our newsletter

© Skeptics Ltd.

No Result
View All Result
  • Articles
  • About
  • Archive
    • ARCHIVE
    • NEWS ROUND-UPS
  • Forum
  • Donate
  • Newsletter

© Skeptics Ltd.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Please note: To be able to comment on our articles you'll need to be a registered donor

Already have an account?
Please click here to login Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
wpDiscuz
You are going to send email to

Move Comment