Oil and gas companies could face greater regulatory pressure to disclose their financial risks to climate change in a Democratic administration. Senator Elizabeth Warren (D-MA) reintroduced legislation this week that would require publicly-traded companies to report their risks related to climate change. The Climate Risk Disclosure Act would direct the Securities and Exchange Commission (SEC) to issue new rules on reporting requirements, forcing oil and gas companies to report their exposure to climate change itself, but also to disclose their risks to climate policy, assuming governments seek to adhere to the Paris Climate Agreement. Sen. Warren explained the logic in a post on Medium . On the one hand, any business could face serious financial risks from climate change, as flooding, severe storms, drought and other climate-related effects grow worse, destroying property or otherwise disrupting operations. A real estate company with assets on the coast faces obvious risks, for […]

Posted in: USA