ClientEarth has written to BP, Glencore and investors warning of the risk of investor lawsuits based on statements about future fossil fuel demand in their reporting.
Last year’s complaint to the FRC has borne fruit – SOCO International and Cairn Energy have stepped up their climate reporting.
The Financial Reporting Council’s response to a climate risk consultation suggest it underestimates financial risks from climate change.
ClientEarth has warned that regulators and companies may use new recommendations on climate risk disclosure to avoid compliance with existing laws.
New legal guidelines set out by environmental lawyers ClientEarth will enable trustees to take control of how their shares are voted at AGMs.
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