Richard Martin, head of corporate Reporting at ACCA, hosts a webinar in conjunction with Carbon Tracker to discuss the impacts of climate disclosures in financial statements
A large part of meeting the temperature reduction goals envisioned by the Paris Agreement is the reallocation of capital to low carbon investments/companies.
In order to achieve this, investors need better information about the effects of climate-related risks on company financial statements today. In 2020 global accounting and audit standard-setters (the International Accounting Standards Board and the International Auditing and Assurance Standards Board) clarified how their requirements incorporate the consideration of climate risks into both financial reporting, and auditor responsibilities, respectively.
In 2021, the Financial Accounting Standards Board published similar guidance. Based on this, investors expected companies’ 2020 financial statements to incorporate the information they need to understand the effects of climate-related risks and strategies on current financial operations and positions.
This webinar will explore the results of the analyses of 2019 and 2020 financial reports performed by both ACCA (in conjunction with various academic representatives) and Carbon Tracker (in coordination with the Climate Accounting Project, a PRI-sponsored team).
These short presentations will be followed by an expert panel discussion exploring the studies, accounting requirements, audit work (and plans to address climate-related risks going forward) as well as company discussions about challenges in moving forward.