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From Union of Concerned Scientsts
If 2022 was the year that corporate climate-related financial disclosure jumped out of the boardroom into the headlines, then 2023 may be the year when the global tide quietly turned in its favor. Louder calls to accelerate the energy transition, advances in climate litigation, and shareholder activism pushed many governments and financial institutions around the world to acknowledge the need for transparency regarding climate-related financial risk. Yet the US government stubbornly remained behind the curve thanks to obstruction and disinformation by a few concentrated interests. Here’s a roundup of the year’s high and low points in this ever-evolving realm.
European Union and California Lead the Way
Many major economies have already put climate disclosure requirements in place, including Singapore, Canada, and the United Kingdom. This year, the European Union (EU) joined them by finalizing its Corporate Sustainability Reporting Directive. Creating a single standard for corporate sustainability reporting, the directive entered
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Read the full post at Union of Concerned Scientsts.
