Global uniform rules needed on climate risk reporting - Credit Suisse CEO

FILE PHOTO: Thomas Gottstein, designated new CEO of Swiss bank Credit Suisse attends an interview with Reuters in Zurich, Switzerland February 7, 2020. REUTERS/Arnd Wiegmann

(Reuters) - The chief executive of Credit Suisse Group AG called on Wednesday for uniform rules and regulations on how businesses report in their earnings the impact of climate risk.

“There is a need for international alignment on rules and regulations, for example on climate change risk scenarios and climate change stress testing,” Thomas Gottstein told the CERAWeek energy conference.

He added that these things are in the development phase but consistent financial disclosures were increasingly important for investors and regulators to assess and quantify risk.

Reporting by David French in New York; Editing by Marguerita Choy