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ARTICLE · 02 MARCH 2022

Converting Hot Air Into Positive Action

Mayer Brown
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Many factors are putting pressure on corporates and financial institutions to address climate change. The UK is currently rolling out mandatory economywide disclosure in accordance with the Task Force...

United KingdomEnergy and Natural Resources
Tim Baines
Tim Baines
Kirsti Massie
Kirsti Massie
Alexander W. Burdulia
Alexander W. Burdulia
Oliver Williams
Oliver Williams
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The authors write that it is essential for companies to have comprehensive climate action plans to ensure they are able to mitigate both physical and regulatory risks and to take advantage of the opportunities presented by climate change

Many factors are putting pressure on corporates and financial institutions to address climate change. The UK is currently rolling out mandatory economywide disclosure in accordance with the Task Force on Climate-Related Financial Disclosures ("TCFD") Recommendations. Beyond this lies immense investor and stakeholder pressure, including by way of shareholder resolutions, and increased media, non-governmental organization ("NGO") and ratings agency attention on those who are perceived to not be doing enough. We are now living in an environmental, social and governance ("ESG") world, and it is all but impossible to address the "E" without a sound climate action plan of some kind.

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