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Indian companies want clarity on climate data reporting confusion
On the sidelines at COP27, there is growing concern about the lack of uniform standards for climate-related corporate disclosures.
11 November, 2022•6 min
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11 November, 2022•6 min
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Editor's note: At the UN COP27 climate summit at Sharm el-Sheikh in Egypt, a broad mix of people have gathered from the world of finance, including big companies, financial regulators, consultants and industry bodies, in addition to the predictable lot—NGOs, youth organizations, indigenous peoples and humanitarian bodies. The first week of the conference saw an impressive line-up of events themed around the disclosure of climate- and sustainability-related information by companies. These events were attended by the likes of UN secretary-general António Guterres, who admonished firms for making unsubstantiated claims about environmental action, commonly known as greenwashing. Most companies are under pressure from investors to disclose data about their carbon footprint, emissions from employees’ air travel and emissions produced by the use of their products by consumers and so on. According to the CDP, a platform for voluntary climate disclosures by firms, the number of companies that share data on the platform has increased 203% since the Paris Agreement was signed in 2015, and 43% over the past year. Apart from this, as part of the Net Zero Asset Managers initiative, 291 signatories …
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