Large companies and financial institutions in the UK will have to come clean about their exposure to climate risks within five years under the terms of a tougher regime announced by the chancellor, Rishi Sunak.
In an attempt to demonstrate the government’s commitment to tackling global heating, Sunak said the UK would go further than an international taskforce had recommended and make disclosure by large businesses mandatory.
The Treasury said the new disclosure rules and regulations would cover a significant portion of the economy, including listed commercial companies, UK-registered large private companies, banks, building societies, insurance companies, UK-authorised asset managers, life insurers, pension schemes regulated by the Financial Conduct Authority and occupational pension schemes.
With this announcement and the need for all companies to look at their environmental impact, has there been a better time than to look at your environmental performance and start making preparations for 2025?
If you would like help in helping assess your environmental impact and how to address the risks associated, then please get in touch with SECC where we will be more than happy to assist you with your environmental needs.
Source: UK to make climate risk reports mandatory for large companies (The Guardian)