Letter: Too much work for corporations and capital markets alone

Thanks to Pilita Clark for bringing environmental reality back into politics (Opinion, August 3).

As the Tory leadership campaign skims over climate in its debates and the UK announces it will only publish seven of its 24 environmental indicators in 2022, many companies will wonder how we can expect this. that they achieve their goals, hold stakeholders to account and publish data in line with promises if the government does not lead by example.

We know the pitfalls of removing transparency and data from environmental reporting – one in five climate-related environmental, social and governance risk incidents are linked to greenwashing because it becomes too easy to do. Government and corporations need to bridge the gap between intent and behavior by honestly assessing whether they are living up to their claims and promises.

In the face of growing backlash against the constraints imposed by ESG, it is clear that capital markets and companies cannot drive this change alone. Governments must do their part.

Climate risks must be tackled head-on – in the boardroom and during the election campaign.

Alexandra Mihailescu Cichon
Executive Vice President, RepRisk
Former Head of Sustainability, Credit Suisse, Zurich, Switzerland