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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

Recent sustainability and integrated reporting developments

16 Feb 2017

A summary of recent developments at the CDSB, LSEG and Deloitte.

LSEG issues guidance for ESG reporting

10 Feb 2017

The London Stock Exchange Group (LSEG), through its Global Sustainable Investment Centre, has issued guidance setting out recommendations for good practice in Environmental, Social and Governance reporting (ESG).

The Bruce Column — Making the financial implications of climate-related risks clear

01 Feb 2017

The recommendations of the Task Force on Climate-related Financial Disclosures marks a shift in the focus of the reporting of climate change and ensuring that companies explain the risks and opportunities that result. Our resident, regular columnist Robert Bruce explains the implications.

ICAEW/TCFD webinar on TCFD consultation on climate-related financial disclosures

13 Jan 2017

The Institute of Chartered Accountants in England and Wales (ICAEW) and the Task Force on Climate-related Financial Disclosures (TCFD) will be hosting a webinar on the TCFD’s consultation on climate-related financial disclosures on 23 January 2017.

Recent sustainability and integrated reporting developments

16 Dec 2016

A summary of recent developments at the CDSB, WBCSD, GRI, GSSB, IIRC, and IPSASB.

TCFD launches consultation on climate-related financial disclosures

15 Dec 2016

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 consultation paper with recommendations for effective disclosure of climate-related financial risks.

FSB announces additional members to its Task Force to develop climate-related financial disclosures

20 May 2016

The Financial Stability Board (FSB) has announced additional members to the Task Force on Climate-related Financial Disclosures (TCFD).

ACCA report concludes that the fragmentation of the sustainability reporting landscape undermines its potential

13 May 2016

A new report from the Association of Chartered Certified Accountants (ACCA) and the Climate Disclosure Standards Board (CDSB) suggests that despite progress made in sustainability reporting and its growing importance, the fragmentation of the landscape might mean that the discipline is "lost in the right direction".

Recent sustainability reporting developments

10 May 2016

A summary of recent developments at the CDSB & CDP and GRI.

FRC comment letter on the Phase 1 Report of the TCFD into reporting of climate related risks

04 May 2016

The Financial Reporting Council (FRC) has published a comment letter on the Task Force on Climate-Related Disclosures (TCFD)’s Phase 1 Report into the reporting of climate related risks by companies.

FSB task force on climate-related financial disclosures publishes first report

01 Apr 2016

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 its first report.

CDSB publishes review of environmental reporting by FTSE 350 companies

04 Feb 2016

The Climate Disclosure Standards Board (CDSB) has published a review of the annual reports of FTSE 350 companies, looking at how these companies incorporate environmental issues into their strategic reports. The publication identifies reporting trends and showcases examples of best practice from published reports. It also sets out the CDSB's views on how regulators can enhance the enabling environment for disclosure. At the launch of the report, Stephen Haddrill, CEO of the Financial Reporting Council (FRC), gave his perspective on the CDSB's findings.

FSB Task Force to develop climate-related financial disclosures

06 Dec 2015

The Financial Stability Board (FSB) has announced that it is to create an industry-led disclosure task force on climate-related financial risks.

CDSB publishes framework for reporting environmental information and natural capital

12 Jun 2015

The Climate Disclosures Standards Board (CDSB) has published a framework for the reporting of environmental information and natural capital in mainstream reports such as the annual report.

CDSB seeks views on updated environmental reporting framework

20 Feb 2014

The Climate Disclosure Standards Board (CDSB) has published a consultation draft of the second edition of its 'CDSB Framework', which is designed to assist in the preparation and presentation of specific environmental information for the benefit of investors. Compared to the existing framework, the consultation draft proposes to extend the scope of environmental reporting beyond climate change to include natural capital information about water and forest commodities.

New XBRL taxonomy for climate change reporting released

14 Nov 2012

The Carbon Disclosure Project (CDP) and the Climate Disclosure Standards Board (CDSB) have released an XBRL (eXtensible Business Reporting Language) climate change reporting taxonomy. The new taxonomy is designed to make climate change reporting easier and more streamlined and aims to facilitate the future integration of climate change data into mainstream financial reports.

Proposed XBRL 'Climate Change Reporting Taxonomy' published

07 Sep 2012

The Carbon Disclosure Project (CDP) and the Climate Disclosure Standards Board (CDSB) are calling for comments on a proposed XBRL climate change reporting taxonomy.

Financial institutions call for more climate change information

25 Jan 2011

The United Nations Environment Programme Finance Initiative (UNEP FI) and the Sustainable Business Institute Germany (SBI) have released a report, Advancing adaptation through climate information services – Results of a global survey on the information requirements of the financial sector.

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