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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

11 Jul 2018

A summary of recent developments at the CDSB, CDSB/WBCSD, IIRC, GRI, and CDP.

Recent sustainability reporting developments

23 May 2018

A summary of recent developments at the WBCSD, TCFD/CDSB, CDSB, ICAEW, UNEP FI, and GRI.

ICAEW publishes guidance on how best to implement the TCFD's recommendations

17 May 2018

The Institute of Chartered Accountants in England and Wales (ICAEW), in association with the Carbon Trust, have published a practical guide on how organisations can best implement the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Independent report explores how TCFD recommendations should be implemented in the UK

06 Apr 2018

In September 2017, the government asked Sir Roger Gifford to chair an independent taskforce (“the Green Finance Taskforce”) to accelerate growth of green finance and the UK’s low carbon economy. The Green Finance Taskforce has now produced a report that sets out a series of recommendations on how the government and the private sector can work together to make green finance and integral part of the UK’s financial services.

Recent sustainability and integrated reporting developments

19 Mar 2018

A summary of recent developments at the CDSB/CDP and FSB.

UNEP FI and investors to form leadership group to promote climate transparency by the investor community

19 Mar 2018

The UN Environment Finance Initiative (UNEP FI) together with nine investors from six countries have formed a leadership group to promote climate transparency by the investor community.

Use of financial accounting standards to meet TCFD recommendations

12 Mar 2018

The Climate Disclosure Standards Board (CDSB) has published 'Uncharted waters: How can companies use financial accounting standards to deliver on the TCFD’s recommendations?'. The publication explores how companies can use existing international accounting standards when implementing the Task Force on Climate-related Financial Disclosures (TCFD) recommendations and comes out as the European Commission calls for the review of current IFRS to assess their potential impact on sustainable investment.

Recent sustainability and integrated reporting developments

22 Dec 2017

A summary of recent developments at WBCSD, GRI and TCFD/CDSB.

ICAEW joint event on the TCFD’s recommendations on climate-related financial disclosuresTCFD

01 Dec 2017

The ICAEW and the Carbon Trust will jointly host a breakfast meeting to examine the opportunities and challenges for organisations looking to implement the Task Force on Climate-related Financial Disclosures (TCFD’s) recommendations on climate-related financial disclosures.

The Bruce Column — Ensuring Climate-related financial disclosure goes mainstream

18 Jul 2017

The final Report of the Financial Stability Board’s Task Force on Climate-related Financial Disclosures has now been published. Our regular columnist Robert Bruce reports on its recommendations and how it is likely to move this issue into the mainstream.

Need to know — Task Force on Climate-related Financial Disclosures issues its final report

06 Jul 2017

This newsletter discusses the final report recently issued by the Task Force on Climate-related Financial Disclosures. The recommendations aim to provide investors, asset owners, asset managers, lenders and insurance underwriters with consistent climate-related financial disclosures that are useful in understanding material climate-related risks.

TCFD published final recommendations on climate-related financial disclosures

29 Jun 2017

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 final recommendations for effective disclosure of climate-related financial risks.

Robert Bruce interviews — Explaining the issues around climate-related financial disclosures

05 Apr 2017

As Special Advisor to the Financial Stability Board’s Climate-related Financial Disclosures Task Force, the body which produced the Bloomberg Report, Russell Picot is at the forefront of efforts to encourage the disclosure of climate risks in annual reports. Robert Bruce, our regular, resident columnist has interviewed him and reports on the latest progress.

Recent sustainability and integrated reporting developments

16 Feb 2017

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

Thinking allowed — Climate-related disclosure

15 Feb 2017

This publication looks at some of the issues involved and how companies and audit committees might respond to the challenges, drawing on a report issued by the FSB Task Force on Climate-related Financial Disclosure, to integrate the implications of climate change in their corporate reporting effectively.

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.

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