Report: Big carbon emitters fail to disclose climate risk

A new report by Carbon Tracker studying 107 companies from a range of sectors shows that over 70% of some of the world’s biggest corporate emitters failed to disclose the effects of climate risk in their audited 2020 financial statements. The Flying Blind report analyzed companies from sectors including oil and gas, transportation, utilities, cement, consumer goods and services, and other industrials (including mining, chemicals, and steel). The study also revealed that 80% of auditors showed no evidence of assessing climate risk when reporting and 72% of companies showed no evidence of follow-through from other discussions of climate risks or emissions targets. Carbon Tracker is an independent financial think tank that carries out analyses on the impact of the energy transition on capital markets and the potential investment in high-cost, carbon-intensive fossil fuels.