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Climate-related news

Investors, regulators and other business stakeholders are increasingly demanding better disclosures on climate change matters and challenging companies that are not factoring the effects of climate change into their critical accounting judgements.

The FRC’s Financial Reporting Lab (“the Lab”) published a report in October 2019, Climate-related corporate reporting, which aims to reflect the views of investors on existing reporting by companies and to help companies move towards more effective and comprehensive reporting. Structured around the TCFD framework, the Lab’s report sets out challenging questions for Boards to ask themselves and examples of good practice.

In its Annual Review of Corporate Reporting, and in an open letter to all Audit Committee Chairs and Finance Directors, the FRC has further emphasised their expectation that Boards address and report on the effects of climate change.

This page includes all of our news on the financial reporting impacts of climate change.  In addition Deloitte's climate change website includes a suite of learning videos, interviews with people driving climate action, and a library of links to further resources and guidance.

Related news

Paper on climate-related risk and financial statements

03 Oct 2019

The Australian Accounting Standards Board (AASB) has announced the availability of a paper 'Climate-related Risk and Financial Statements: Implications for Regulators, Preparers, Auditors and Users'.

CRD launches report on alignment between its members' sustainability standards and frameworks and the TCFD recommendations

24 Sep 2019

At the World Congress of Accountants in Australia in November 2018, the Corporate Reporting Dialogue (CRD), which brings together organisations that have significant international influence on the corporate reporting landscape, announced a two-year project focused on aligning the standards and frameworks of its members. A report 'Driving Alignment in Climate-related Reporting' was now launched amongst businesses and investors at the World Economic Forum’s Sustainable Development Impact Summit, during Climate Week NYC.

Recent sustainability and integrated reporting developments

24 Sep 2019

A summary of recent developments at SASB/CDSB, CDSB, ACCA/CAANZ/ICAS, IIRC, and GRI.

Recent sustainability reporting developments

27 Aug 2019

A summary of recent developments at the CFA Institute, CDP, SSE, and GRI.

The Bruce Column — Making the future more realistic than rosy

25 Jul 2019

The Chairman of the International Accounting Standards Board, Hans Hoogervorst, is half way through his second, and final, term as Chairman.

European Lab Project Task Force to conduct interviews related to climate-related reporting

19 Jul 2019

The European Lab Project Task Force (PTF) will be conducting interviews in September and October with practitioners who have experience in the reporting or use of climate-related reporting information.

FRC publishes a statement on the Government's Green Finance Strategy

03 Jul 2019

The Government has announced its Green Finance Strategy which recognises the role of the financial sector in delivering global and domestic climate and environmental objectives. In response, the Financial Reporting Council (FRC) has issued a joint statement with other financial regulators, including the Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) welcoming the strategy.

EC publishes guidelines on reporting climate-related information

19 Jun 2019

The European Commission (EC) has published new guidelines on reporting climate-related information supplementing its non-binding guidelines on non-financial reporting published July 2017.

Accountancy Europe publishes a thought-leadership paper on ways to make corporate governance a driver of a sustainable economy

16 Jun 2019

Accountancy Europe has published a thought-leadership paper which proposes ten ideas to challenge boards, policymakers and regulators as to what steps they can take to change how their businesses are run and drive forward a more sustainable economy which is able to face the threats of climate change, declining natural resources and pollution.

Summary report on the EC consultation on updating the non-binding guidelines on non-financial reporting

12 Jun 2019

The European Commission (EC) has published a report summarising the responses to the draft supplement to its non-binding guidelines on non-financial reporting with specific reference to climate-related information.

New Deloitte climate change website

12 Jun 2019

Deloitte, in collaboration with the Institute of Chartered Accountants in England and Wales (ICAEW), has launched a dedicated climate change website and video learning programme.

Reporting on climate risk increasing but still needs more financial impact analysis

06 Jun 2019

The Task Force on Climate-related Financial Disclosures (TCFD) set up by the Financial Stability Board (FSB) to develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders has published a second status report providing an overview of the extent to which companies in their 2018 reports included information aligned with the core TCFD recommendations published in June 2017.

Recent sustainability and integrated reporting developments

23 May 2019

A summary of recent developments at SASB/CDSB, UNEP FI, IIRC, ACCA, IRC, WICI, GRI, and SSE.

AASB updates research paper on climate-related risks disclosure

02 May 2019

The Australian Accounting Standards Board (AASB) has released the latest version of 'Climate-related and other emerging risks disclosures: assessing financial statement materiality using AASB Practice Statement 2'.

IASB chair discusses sustainability

02 Apr 2019

At the Climate-Related Financial Reporting Conference in Cambridge, UK, IASB chair Hans Hoogervorst gave a speech titled ‘What sustainability reporting can and cannot achieve’.

CRD launches market consultation to gather views on how to drive better alignment of sustainability reporting frameworks

25 Mar 2019

The Corporate Reporting Dialogue (CRD) has launched a six week consultation to gather views from stakeholders on how to drive better alignment of sustainability reporting frameworks, as well as with frameworks that promote integration between non-financial and financial reporting.

CRD releases paper on SDGs and the future of corporate reporting

01 Mar 2019

The Corporate Reporting Dialogue (CRD), which brings together organisations that have significant international influence on the corporate reporting landscape, has a position paper supporting the development of better reporting guidelines for the Sustainable Development Goals (SDGs).

EC consults on updating the non-binding guidelines on non-financial reporting

21 Feb 2019

The European Commission (EC) has published a draft supplement to its its non-binding guidelines on non-financial reporting with specific reference to climate-related information.

Recent sustainability and integrated reporting developments

12 Feb 2019

A summary of recent developments at GRI, IOSCO, WBCSD/CDSB, IIRC, the UK Government, the Carbon Trust, and XBRL International.

Environmental reporting guidelines published

04 Feb 2019

Guidance to help companies comply with the Streamlined Energy and Carbon Reporting regulations, including greenhouse gas (GHG) reporting have been published.

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