Christopher Hohn’s activist hedge fund TCI has outlined plans to punish directors of companies that fail to disclose their carbon dioxide emissions in a move that underlines rising investor concerns over climate change and the pressure on boardrooms to respond. TCI has warned Airbus, Moody’s, Charter Communications and other companies that they must improve their pollution disclosure or face votes against their directors. TCI also called for asset owners to fire fund managers that did not insist on climate transparency. The decision by TCI comes as investors are becoming increasingly concerned about how climate risks will impact their portfolios. However, none of the world’s major financial centres have made climate risk disclosure mandatory. The news comes ahead of UN climate talks in Madrid this week, and as Bank of England Governor Mark Carney, a strong advocate for more climate risk disclosure, announced he would take up a new post as UN envoy for climate action and finance from February.

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Financial Times