that would have made the company disclose the financial effects of climate change on its assets.continuing dispute with Imperial, after the oil giant failed to tell the community about leaking oil sands tailings ponds for almost a year. Water tainted with dangerous levels of arsenic, dissolved metals and hydrocarbonsin Northern Alberta into the environment since at least May, 2022, but no local communities were told until a separate incident in February, 2023, spilled 5.
The company does not incorporate material climate-related matters into its audited financial statements or disclose financial assumptions and estimates around climate change, for example, nor has it published a detailed and accurate account of its corporate climate policy positions and engagement activities.
Adopting climate transparency per the ACFN resolution would “produce a set of arbitrary and hypothetical views of the future,” Mr. Corson said, rather than the “thoughtful, fact-based approach” the company currently uses.Mr. Adam said in a statement that large, institutional shareholders like Goldman Sachs, Royal Bank of Canada and Vanguard should demand higher degrees of transparency from the companies that they invest in – including Imperial.
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