Investor and Business Leaders Call Out Automakers for Trying to Roll Back Fuel Economy Standards
BOSTON, May 25, 2017 /3BL Media/ - A new bill would roll back the many benefits of fuel economy standards that are currently working to protect jobs and keep hard-earned dollars in local economies, Impax Asset Management and Ceres said in a statement.
The bill, introduced today in the U.S. Senate by Sen. Roy Blunt (R-Missouri), would be a huge setback for businesses, the economy and consumers.
A task force led by Michael Bloomberg and backed by Mark Carney has urged companies to disclose to investors the impact of climate change on their businesses.
The governor of the Bank of England and the billionaire media owner are behind a new set of recommendations designed to give investors, lenders and insurers a better idea about how climate change will affect individual businesses.
Companies should use a range of existing, publicly-available climate-related scenario analysis or develop their own in order to assess the risks posed to their business by climate change, according to the Financial Stability Board (FSB) Task Force on Climate-Related Financial Disclosures (TCFD).
TCFD says companies should consider risks posed to their businesses by the world transitioning, in varying degrees, to a low-carbon economy, as well the physical risks posed by a warmer planet.
Companies with investments in oil, gas and coal need to do a better job disclosing the financial risk of climate change to their investors, a former chair of the Securities and Exchange Commission and an Obama administration official said Monday.