TIME analyzed 300 companies' financial documents to find out how concerned they are about climate change
Experts say that this shift—from speaking theoretically about climate to talking more practically—tracks with what they’ve noticed in boardrooms and company operations, and indicates that companies are rushing to at least make investors feel they are working to mitigate climate-related risks. Patrick Callery, a professor at the University of Vermont who studies corporate climate disclosures, notes that this progression is a bit like processing an emotional shock.
But TIME also found that language documenting companies’ specific plans for achieving their climate goals are still fairly uncommon, despite a recent uptick.went from 14% to 26%. The phraseTo come up with these numbers, TIME curated a list of about 200 climate change-related words, phrases, and acronyms with input from experts at the University of Vermont’s Sustainable Innovation MBA program.
To date, the SEC hasn’t yet mandated that companies divulge their exposure to climate change, but it is traveling down that path. In 2010, the agency issued guidelines for companies that wanted to address climate in their filings, suggesting that they consider how physical damage, climate legislation and regulation, and shifting business and consumer demands could
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