UK Regulators Back Global Climate Reporting Framework
Law360, London (November 11, 2020, 3:40 PM GMT) -- The U.K. government and regulators have thrown their support behind a new international regime that would govern how companies disclose climate change risks to their operations and have backed plans to create a global standard-setting body to oversee the rules.
HM Treasury, the Bank of England, the Financial Conduct Authority and other finance regulators said in a joint statement on Tuesday that they support an initiative launched by the Trustees of the International Financial Reporting Standards to develop a unified set of global rules that would force companies to make public more information about environmental risks.
The joint British statement also...
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