"I think we need to look again at rules of disclosure for big companies who have large investments in fossil fuels. I think there is a case for making that mandatory is what I am saying," The Guardian quoted Davey on Thursday as telling reporters in Lima, Peru, where a UN climate change conference is currently underway.
"We are seeing a move from carbon capitalism to climate capitalism. We know with climate change we have got to move out to a low-carbon agenda and we are already seeing the signs that the market is going to be helping to drive this," Davey added.
The UN Climate Change Conference is taking place in Lima, Peru, from December 1 to 12. Participants at the Lima talks aim to reach a proposal on a binding universal agreement on climate change, which is expected to be adopted at the 2015 UN Climate Change Conference in France.