M&G, Neuberger Berman and Nuveen are among investors endorsing a new disclosure framework aimed at addressing the growing number of high polluting companies being delisted.
The Private Markets Pilot is being run by influential reporting body CDP, formerly known as the Carbon Disclosure Project, which has historically focused on promoting environmental disclosures from public companies.
The non-profit said the move was prompted by “a trend towards the privatization of high-carbon assets [which] risks diminishing transparency and performance on ESG issues, since private companies do not have to comply with the reporting requirements of a listed entity”. It pointed to BP’s decision last year to sell its Alaskan oil and gas business to Hilcorp Energy for $5.6bn.
"While there has been increasing transparency on ESG issues in public markets – in 2020 CDP saw a record number of listed company disclosures – global markets are increasingly chara…