As more and more companies and investors conclude that sustainable practices make for sustainable returns, the assessment of corporations’ environmental, social, and governance (ESG) footprints has moved from a simple measure of corporate responsibility to an investment proposition. While this general focus on ESG policies is undeniably beneficial, companies today are presented with the additional challenge of actively planning for climate risk. With a growing consensus around climate science, companies and investors must plan for a number of different scenarios, depending on the extent and impact of global climate change. However, an absence of shared terminology, benchmarks, and policies threaten to stymie investors and companies as they attempt to account for climate risk.
Accounting for Climate: The Next Frontier in ESG
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