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Companies should mandatorily disclose climate-related financial risks, BOE’s Carney says

( December 10, 2019, 15:41 GMT | Official Statement) -- Companies voluntarily reporting their financial risks under the Taskforce on Climate-related Financial Disclosures guidelines may be required to do so in future as a matter of regulation, the Governor of the Bank of England said today. Speaking at the COP25 conference in Madrid, Mark Carney said that by the next annual meeting, authorities should explore pathways to make TCFD disclosure mandatory. Every financial decision must take climate change into account, he said, adding that companies that align their business models with the transition to net zero will be “rewarded handsomely,” but that those failing to do so will “cease to exist.”Speech attached...

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