Climate disclosure could spark big investments: US climate envoy

John Kerry says US president plans to order firms to reveal climate change risks, as IMF launches climate dashboard.

Requiring financial institutions and companies to disclose climate change risks will trigger huge shifts in capital investments around the world, says United States Special Presidential Envoy for Climate John Kerry, adding that US President Joe Biden plans to issue an executive order on the issue soon. Kerry, speaking on a panel with International Monetary Fund (IMF) chief Kristalina Georgieva on Wednesday, gave no details about the executive order and the White House had no further comment. Kerry noted that the European Union has already adopted such requirements. “It’s going to change allocation of capital. Suddenly people are going to be making evaluations considering long-term risk to the investment based on the climate crisis,” Kerry said.