Funny how so much of this comes down to the use of government force to force compliance among the private sector, giving government more and more power
Government should force companies and pension funds to disclose climate change risks, say MPs
The government should make it mandatory for large companies and pension funds to report their exposure to climate change risks, a committee of MPs has said.
Current rules encourage short-term thinking while neglecting concerns such as sustainability, the Environmental Audit Committee (EAC) said. It recommended that new rules on climate change disclosure should be in place by 2022.
Institutional investors are sometimes confused about the extent of pension trustees’ duty to consider environmental risks, the MPs said.
‘Climate change’ is not the environment, no matter how much the Warmists want to link it.
The report urges the government to lay down in law the duty that pension funds and other large asset owners have to consider the long-term value of their investment. In light of this duty, institutional investors should be considering environmental risks, the committee said. (snip)
Mary Creagh MP, chair of the Environmental Audit Committee, said: “We need to fix the incentives in our financial system that encourage short-term thinking. Long-term sustainability must be factored into financial decision making. (snip)
“We want to see mandatory climate risk reporting and a clarification in law that pension trustees have a duty to consider long-term sustainability, not just short-term returns.†(snip)
The government should require fiduciaries to actively seek the views of their beneficiaries when producing statements of investment principles, the MPs said.
It’s just Big Government for your own good, you know. Because they know better or something.
