EU Floats Climate-Threat Disclosure Plans For Finance Cos.
Law360, London (January 10, 2019, 3:30 PM GMT) -- The European Commission told banks and insurers on Thursday they must disclose information to investors about the risks that climate change presents to the performance of their business, as Europe presses ahead with plans to improve sustainability.
A group of technical experts put together by the commission has set out its final guidelines for Europe’s businesses, including financial services and insurance companies, on how they should set out their exposure to risks associated with climate change. The sector, like other industries, is vulnerable to the world’s changing climate, which could lead to a growing risk of catastrophic floods and hurricanes....
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