Climate accounting woes for 17 big European firms

LONDON: Thirty-four investors managing more than US$7 trillion (RM29.5 trillion) in assets have warned 17 of Europe’s largest companies, including BP and Volkswagen, that they could challenge board directors over their accounting of climate risks.

The move is the latest push by investors to pressure companies and their auditors, charging them with not moving fast enough to adapt to the world’s transition to a low-carbon economy or being clear enough about the potential impacts.