Big four auditors face investor calls for tougher climate scrutiny

In a letter sent in January to the so-called Big Four -- EY, Deloitte, KPMG and PwC -- the investors said they were concerned that climate change was being "ignored" in accounting and audits.

LONDON: European investors managing assets worth more than 1 trillion pounds ($1.28 trillion) are pressing top auditors to take urgent action on climate-related risks, warning that failure to do so could do more damage than the financial crisis.

The case for tighter auditing has been bolstered by public statements from regulators and accounting watchdogs highlighting the potentially systemic risks that climate change could pose.