Virtually every company knows that climate change presents a real risk to its business, says the latest report from the Sustainability Accounting Standards Board (SASB). But there's something missing.
While the "overwhelming majority" of US and EU companies—94%—"address climate risk in their mainstream financial reports, only a few provide quantitative metrics beyond GHG emissions." About 80% of companies mention facing physical risks from changing climate, only one in five try to quantify the financial impact.
The lack could have two major implications in the form of either leaving prospective investors less interested in a company or property, or in eventual legal action should something go wrong.
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