A high-power petition has been sent to the US Security and Exchange Commission today urging the regulatory body to ask publicly traded companies to disclose foreseeable financial risks due to the impacts of climate change.
Environmental Defense, one of the organizers of the petition states that:
“Climate change can have a significant impact on a company’s bottom line – just ask any insurance company. But as the Washington Post points out, it’s not only insurance companies that are affected. Climate change can cause physical damage to facilities, increase costs of regulatory compliance, and (on the plus side) create new markets for climate-friendly products – to give just a few examples. “