Op-ed: The World Needs Biden to Lead on Climate Reporting | Mike Bloomberg

Rejoining the Paris Climate Agreement will send an important signal about U.S. leadership, but it will basically just take us back to four years ago. The United States and China are taking that step today as our two nations formally join the Paris Agreement. To push us forward, President Biden should bring together a group of world leaders to join the U.S. and endorse a mandatory standard for businesses to report the risks they face from climate change. Risk disclosure is not the splashiest subject, but it's one of the most important things we can do to speed progress on climate change. Business leaders want to reduce the risks they face, and the better they can measure them, the faster they can act, and the easier it is for investors to make smart decisions. But that only works if companies are using the same metrics across industries and borders. So for the past few years, I've been helping lead a global effort called the Task Force on Climate-Related Financial Disclosures, or TCFD. We develop guidelines to help businesses measure risks, and they've been embraced by governments and businesses all over the world. Now we're at a crucial moment. U.S. support for the TCFD would unify the global effort and help ensure we have a consistent global standard, which will speed up progress on climate and make the global economy stronger and more resilient. you