Markets

Oil companies must disclose more information on climate-proofing

Investors fly blind when trying to figure out what impact growing climate concerns may have on future production at oil and gas firms, an influential think tank has said.

Companies, including those listed in London, are not disclosing “anywhere near enough information” for investors to take informed decisions on their long-term viability, Carbon Tracker said.

Read more: Shell ahead of expectations, but low oil prices take chunk out of profits

The group called on firms, including Shell and BP, to add their expected future spending on exploration and development to financial reports, allowing investors to assess whether they may lose some of their assets due to new policies.

The firms should also be more transparent when calculating if their business model can survive a world which tries to limit global warming to between 1.5 and 2.0 degrees Celsius, the reports lead author Kate Woolerton told City A.M.

Read more: Britain must cut emissions to zero by mid-century, government toldRead More

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