Oil companies waking up to climate risk

An InfluenceMap report
April 2016

It has been almost four months since the historic climate change agreement was signed in Paris. On the eve of the New York signing of COP21 by nations, we examine the effect the Paris Agreement has had on climate risk disclosure, specifically the SEC 10Ks published in Q1 2016, as an update of our November 2015 report.

The clear trend is greater disclosure by the oil/gas industry of regulatory risk posed by climate policy with emphasis of a likely shift following the Paris Agreement. Chevron, ConocoPhillips, ExxonMobil and Valero Energy all imply that significant regulatory risk at the national levels is on the horizon after COP21.

Aside from the oil sector no other companies among the 20 largest industrial corporations in the US mention the Paris Agreement as being significant going forward. The auto sector refers to VW-scandal related enhanced regulatory risk.

Boeing and GE are two large industrial companies with significant exposure to potentially stringent climate regulations who remain silent in their 10Ks on climate.

A report and press release with an investor quotes from Walden Asset Management and CCLA.