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Most of the U.K.’s Major Companies Are Falling Short on Climate Risk Disclosure

A new report from environmental advocacy group ClientEarth shows that just 40% referred to climate change explicitly in their latest annual reports.

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Photographer: Simon Dawson/Bloomberg

Most of the largest U.K. companies are getting away with “woefully inadequate” disclosure of the risks they face from climate change, according to an analysis of annual and audit reports by environmental charity ClientEarth.

Just 40% of FTSE 250 companies clearly referred to climate change when discussing key risks and uncertainties in their most recent annual reports as of June 2020 said the group, which is headquartered in London. “There are very general statements being made, but very little in the way of accountability,” said Daniel Wiseman, a lawyer at ClientEarth who co-authored the report. “Currently, the financial regulators aren’t adequately doing their job in ensuring financial markets have the climate-change information they need.”