As stated in Business Insider Australia, Australia’s corporate regulator says it will consider “enforcement action” against listed companies which obscure the risks climate change poses to their business or fool investors with greenwashing campaigns.
“We believe climate change is a systemic risk for our financial system. As a result, we have all observed that investors require listed companies to disclose meaningful and useful information to enable the physical and transitional risks of climate change to be priced so that capital can be allocated efficiently.” -Australian Securities & Investments Commission (ASIC) commissioner Cathie Armour
Major companies face significant physical and financial risks by moving the wrong way on climate-sensitive projects, but investor groups also fear Australian firms could lose out on international capital if they don’t take climate risk disclosures seriously. Business Insider Australia
Climate risk disclosure should be on the forefront of priority for businesses.
We've said time and again that climate risk is something that should be taken seriously and investing in preventing it should be a no brainer. This is so important that Australia’s corporate regulator is taking action:
- Australia’s corporate watchdog has put listed companies on notice over their climate risk disclosures.
- With climate risk posing an existential threat, regulators have warned against hiding the true risks from investors.
- ASIC commissioner Cathie Armour said the organisation will take “enforcement action” against the worst offenders.
Don't wait for your business to face consequences for not taking this responsibility earnestly.
How Will Your Business Be Impacted by Hazards?
Each company faces its own unique set of physical risks. These can depend on the nature of its business, location of its significant assets, its supply chain, and the dependence of its value chain on conditions affected by climate change. Could you identify each of those hazards an asset is at risk of?
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