• About
    • Which Energy Mix is this?
  • Climate News Network Archive
  • Contact
Celebrating our 1,000th edition. The climate news you need
No Result
View All Result
The Energy Mix
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
No Result
View All Result
The Energy Mix
No Result
View All Result
  FEATURED
BREAKING: UN Nature Summit, the ‘Paris Conference for Biodiversity’, Moves to Montreal in December June 19, 2022
‘LET’S SUE BIG OIL’: Legal Team Launches Class Action Campaign for B.C. Municipalities June 17, 2022
‘It Could Have Been Any of Us’, Colleague Says, After Brazil Confirms Murders of Bruno Pereira, Dom Phillips June 17, 2022
Infrastructure Gap a ‘Life and Death’ Matter as Northern Canada Warms June 17, 2022
Ban Fossil Fuel Ads Like Tobacco Promos, Doctors Urge Ottawa June 10, 2022
Next
Prev
Home Jurisdictions Australia

Exxon, Amazon Head List of Companies that Fail to Reveal Climate Impact

June 18, 2019
Reading time: 2 minutes

Minale Tattersfield/flickr

Minale Tattersfield/flickr

11
SHARES
 

ExxonMobil, Amazon, and UK grocery retailer Tesco head the list of 707 major global companies with combined value above US$15 trillion that have failed to reveal their full impact on the climate crisis, water shortages, and deforestation, according to CDP, the non-profit formerly known as the Carbon Disclosure Project.

The companies on the list “lack transparency over their effect on the environment, according to the intervention by some of the world’s biggest financial names,” The Guardian reports. And now, “campaign platform CDP has brought together a record number of investors, including banking giants HSBC and Investec, to demand companies reveal data on the environmental cost of how they do business.”

CDP cited 546 of the companies for lack of transparency on climate, 166 on water security, and 115 on deforestation. The United States accounted for 20% of the companies, followed by Australia at 16%.

The Guardian notes that more than 7,000 companies already disclose their environmental impacts through CDP.

“We know that climate change, water security, and deforestation present material risks to investments, but these risks cannot be managed without proper information,” said CDP Global Director Emily Kreps, adding that the number of investors calling for full climate disclosure has grown from 57 to 88 since 2017.

“Climate change, deforestation, and water security are critical challenges that require immediate action,” said Cathay Financial Chief Investment Officer Sophia Cheng. “Cathay believes investors can play an important role in encouraging their investee companies to disclose environmental information—this campaign should improve corporate transparency and help investors better manage these environmental risks and opportunities.”

HSBC Head of Corporate Governance Thomas O’Malley said CDP’s “model disclosure framework” helps investors assess how well companies manage “one of the broadest risks facing companies”.This week, as well, 80 civil society organizations and academics released a letter urging the European Investment Bank to cut off fossil fuel financing worth €2.4 billion in 2018, The Guardian notes. “It follows a warning earlier this year from Mark Carney, the Bank of England’s governor, and François Villeroy de Galhau, the governor of the Banque de France, that the climate breakdown poses an existential threat to the global financial system unless there is urgent reform.”



in Australia, Carbon Levels & Measurement, Community Climate Finance, Forests & Deforestation, UK & Europe, United States, Water

The latest climate news and analysis, direct to your inbox

Subscribe

Related Posts

Erik Whalen/wikimedia commons
Severe Storms & Flooding

Yellowstone Park Reopens, But Flood Recovery Could Take Years, Cost Billions

June 24, 2022
73
TAFE SA TONSLEY/Flickr
International Agencies & Studies

Clean Energy Investment to Exceed $1.4T This Year, Still Falls Short of Climate Goals: IEA

June 24, 2022
95
zephylwer0/pixabay
Supply Chains & Consumption

North American Steel, Aluminium Giants Lumber Toward Green Transition

June 24, 2022
170

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

The federal government's Cliff Street Power Plant is at the centre of Ottawa's plans to reduce natural gas demand. Photo: PWGSC

EXCLUSIVE: Ontario Regulator Refuses New Pipeline, Tells Enbridge to Plan for Lower Gas Demand

May 30, 2022
5.1k
Ben_Kerckx/Pixabay

Plastics Cited as ‘Fossil Industry’s Plan B’ as Guilbeault Announces Partial Ban

June 24, 2022
197
zephylwer0/pixabay

North American Steel, Aluminium Giants Lumber Toward Green Transition

June 24, 2022
170
Jason Woodhead/Flickr

Trans Mountain Pipeline On Track to Lose $600 Million, Parliamentary Budget Officer Finds

June 24, 2022
314
Bruce Reeve/Flickr

Opinion: Ontario’s New ‘Carbon Tax’ Looks Like the One Doug Ford Fought

June 7, 2022
1.6k
Michael and Diane Weidner/Unsplash

Scientists, Politicians Debate Ethics of ‘Climate Tinkering’

June 7, 2022
74

Recent Posts

Erik Whalen/wikimedia commons

Yellowstone Park Reopens, But Flood Recovery Could Take Years, Cost Billions

June 24, 2022
73
TAFE SA TONSLEY/Flickr

Clean Energy Investment to Exceed $1.4T This Year, Still Falls Short of Climate Goals: IEA

June 24, 2022
95
Nemaska Lithium/Facebook

Critical Minerals, Hydrogen Lead Ottawa’s Low-Carbon Industry Strategy

June 24, 2022
79
Cjp24/Wikimedia Commons

UK Green Shift Won’t Repeat Job Destruction of Deindustrialization, Report Finds

June 24, 2022
37
/PxFul

Canadian Farmers Offer Ottawa a Roadmap to Cut Agriculture Emissions

June 24, 2022
95
Pavlofox/Pixabay

Millions Face Famine as Climate Disasters, Ukraine War Slash Food Supplies

June 24, 2022
51
Next Post
Lydia Jacobs/Public Domain Pictures

Slow Uptake Has Countries Missing Benefits of Renewable Energy Transition, REN21 Warns

The Energy Mix

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Navigate Site

  • About
  • Contact
  • Privacy Policy and Copyright
  • Cookie Policy

Follow Us

No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}