There's more news breaking today related to my Harder Line column this week, about how investor concern for climate change is increasing.
The Task Force on Climate-Related Financial Disclosures, created in late 2015 by an international body overseeing the global financial system, issued its final report today. Included is a statement of support for its recommendations from a deep bench of companies and financial institutions, including Bank of America, Barclays, and HSBC.
Why it matters: The lengthy list of companies demonstrates wide-reaching support in the global financial community for disclosure related to climate change, regardless of political winds in any particular country, including the U.S.
The details: The report's recommendations create a voluntary framework for companies to disclose climate-related information in their financial filings, focused around four elements of companies' operations: governance, strategy, risk management, and metrics and targets.
Who's missing: The companies highlighted in my column for having record investor support for disclosing the risk that carbon regulations pose to their bottom lines are not among the list of backers. This includes ExxonMobil, Southern Company, and Occidental Petroleum.
The other side: Marlo Lewis, a fellow at the conservative Competitive Enterprise Institute, wrote a piece in response to my column, questioning whether the increase in support is actually surging — or merely peaking in response to anticipation Democrat Hillary Clinton was going to win the presidential election.