INSTITUTIONAL investors and environmental advocates are urging companies to follow a new guide on how to disclose their risks from the impact of climate change, according to a Reuters report.
With the goal of bringing greater standardization to the reporting of climate risks, the guide was put together by three companies and public-interest groups that aim to foster sustainable business practices: Calvert Investments, relief organization Oxfam America and the Ceres Coalition of investors.
The release follows by two years guidelines issued by the SEC. While the SEC guidelines do not force publicly traded corporations to assess such climate-related events as severe storms, droughts, floods and heat waves, some companies have done so anyway.
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