Full Title: Flying Blind: The Glaring Absence of Climate Risks in Financial Reporting
Author(s): Barbara Davidson, Rob Schuwerk
Publisher(s): Carbon Tracker Initiative, Principles for Responsible Investment (PRI)
Publication Date: September 16, 2021
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Description (excerpt):
This report examines whether 107 publicly-listed carbon-intensive firms (and their auditors) considered material climate-related risks in financial reporting. At the same time the study also assesses whether investor concerns about Paris-alignment of assumptions and estimates have been addressed.
Despite significant financial risks faced from the climate crisis, and net-zero pledges made by many we found little evidence that companies or their auditors considered climate-related matters in the 2020 financial statements.