LONDON : Top emitters of carbon are not disclosing the full risks associated with climate change, reducing the chances of meeting global emissions targets, a study by Carbon Tracker and the Climate Accounting Project said on Thursday.
Of 107 listed companies assessed in the study, across sectors including oil and gas, automobiles and aviation, more than 70per cent did not reflect the full risks resulting from climate change in their 2020 accounts, the report released on Thursday by Carbon Tracker said. "Without this information there is little way of knowing the extent of capital at risk, or if funds are being allocated to unsustainable businesses, which further reduces our chances to decarbonise in the short time remaining to achieve Paris goals," Davidson added.
A lack of consistency between climate pledges made and their treatment in financial accounts was also a concern, the study said, adding that none used assumptions in line with the Paris Agreement, which aims to limit global warming to no more than 1.5 degrees Celsius.
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