A new report has identified a surprising lack of transparency among ASX200 companies when it comes to disclosure about climate-related risk.
The 2017 Corporate Sustainability Reporting in Australia report, compiled by the Australian Council of Superannuation Investors (ACSI), has exposed a reluctance by ASX200 companies to report detailed climate data.
The report found that fewer than half (87) of Australia's 200 largest listed companies have a climate-change policy or an emissions reductions target.
Even more concerningly, 70 of the companies in the ASX200 did not make any climate-related disclosures at all in 2016, found ACSI.
Just 48 of the ASX200 companies (24 per cent) disclosed a climate-related or energy-efficiency target in 2016.
"As this is the first year that we have collected these statistics, we will be keen to trace trends over time," said the report.
"We expect the level of disclosure of climate-related financial risks to increase significantly over time given the growing expectations of governments, regulators, investors and broader stakeholders of ASX200 companies."
ACSI chief executive Louise Davidson said, "Companies need to rapidly adjust their reporting practices to include climate disclosure.
"Our members have a legitimate need to price climate risk into their investment decisions to ensure they are maximising long-term benefits for their beneficiaries," she said.
Troubled wealth giant AMP has admitted it faces a long hard road to recovery. With an increasingly vigilant regulator, conduct remains its g...
The chief executive officer of Woman’s World Banking has said that including women in the financial industry may be the silver bullet in s...
Volatility in global politics, increasing input costs and rising funding prices are causing one of the largest drops in wealth managerial co...
