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Climate-related resources

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 resources to help companies when making disclosures of the effects of climate change on their business, and vice versa.  It includes links to:

Related resources

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.

Deloitte responds to the EC consultation on the update to non-binding guidelines on non-financial report

21 Mar 2019

We have commented on the European Commission's targeted consultation on the update of the non-binding guidelines on non-financial report and support the EC’s efforts to improve climate-related disclosures and welcome its approach in encouraging companies to implement the FSB’s Task Force on Climate-related Financial Disclosures (TCFD) and incorporating them into the EC guidelines.

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.

Deloitte comment letter on FCA Discussion Paper - Climate change and green finance

01 Feb 2019

We have published our comment letter on the Financial Conduct Authority (FCA)'s Discussion Paper DP 18/8: Climate change and green finance.

We comment on FCA Discussion Paper - Climate change and green finance

01 Feb 2019

We have published our comment letter on the Financial Conduct Authority (FCA)'s Discussion Paper DP 18/8: Climate change and green finance.

The Carbon Trust publishes findings on climate risk disclosure

31 Jan 2019

The Carbon Trust has published a summary of its findings on climate risk disclosure, in which it reveals that two-thirds (67%) of UK corporates plan to disclose climate-related risks and opportunities in their 2019 annual reports.

IOSCO statement on disclosure of ESG matters by issuers

21 Jan 2019

The International Organization of Securities Commissions (IOSCO) has published a statement setting out the importance for issuers of considering the inclusion of environmental, social and governance (ESG) matters when disclosing information material to investors' decisions.

EC expert group issues report on disclosure of climate-related information

10 Jan 2019

The Technical Expert Group on Sustainable Finance set up by the European Commission (EC) has published its first report on companies' disclosure of climate-related information. It contains recommendations that will allow the EC to update its non-binding guidelines on non-financial reporting with specific reference to climate-related information, in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) established by the Financial Stability Board.

Assessing financial statement materiality of climate-related and other emerging risks

13 Dec 2018

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

Recent sustainability and integrated reporting developments

04 Dec 2018

A summary of recent developments at CDSB/CDP, CDP, PRI/ICGN, UNEP FI, GRI, and the University of Oxford.

SASB issues industry-specific sustainability accounting standards

08 Nov 2018

The US Sustainability Accounting Standards Board (SASB) has issued the world's first set of industry-specific sustainability accounting standards covering financially material issues in 77 industries. The standards aim at providing investors with in-depth information about the impact of a company’s actions on society and the environment - they come at a time of increased investor concern about companies' business practices.

Reporting on climate risk gains traction but still lacks financial impact analysis

27 Sep 2018

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 status report providing an overview of the extent to which companies in their 2017 reports included information aligned with the core TCFD recommendations published in June 2017.

Financial Reporting Lab calls for new participants for a new project on climate and workforce reporting

19 Sep 2018

The Financial Reporting Lab (“the Lab”) is calling for participants for its next project on the disclosure of climate change and workforce information. The project will look at how the Lab’s recommendations in previous reports on business model reporting, risk and viability and performance metrics apply to companies’ reporting on client change and their workforce. It will look at how climate and workforce disclosures can be reported most effectively.

Recent sustainability reporting developments

25 Jul 2018

A summary of recent developments at the UNEP FI, WBCSD, GRI/PRI/UN Global Compact and CDSB.

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