There is a movement underway where corporations are pledging to report on the effects of climate change in a standardized way, much the same way they report earnings. Currently, about 240 corporations have signed a pledge to do so.
The importance of this is this information will now become input for investors and shareholders. What that means is the corporations are bound by law to report accurately how climate change is affecting their operations and to provide reliable forecasts of future effects. Failure to do so will be fraud and will not only subject the corporation to fines, but the executives involved would also be facing prison time.
ExxonMobil is an example of this. They failed to reveal to share holders and investors that they knew the hazards of climate change. Instead, they were busy funding anti-science organizations in order to undermine the science and prevent preventative actions from being taken. Now, they are under investigation. ExxonMobil has recently vowed to reveal the risks it faces from climate change. Hopefully, this will be too little, too late and Exxon will face severe repercussions for its actions.
Now that many corporations, with more to come, will be legally required to accurately report the risks they face as a result of climate change, it will be interesting to see just how thoroughly their reports rebuke claims made by the anti-science crowd.
Stay tuned and watch the financial sections.