21 September | New York & Online

Companies (and their auditors) are already required to include the impacts of material climate-related matters in audited financial statements. While we have seen some progress from FY2020, overall it appears that  companies (and their auditors) are still failing to assess the financial impacts of climate-related risks on, and disclose relevant assumptions and estimates in, their financial statements.  Additionally, despite investor requests, there is little to no information from companies about the financial impacts of a global transition to net zero by 2050 (or sooner).

Material climate-related risks should not be ignored; they can impact reported profitability, invested capital, and investor and management decisions.  However, Carbon Tracker’s latest research indicates that companies are failing to provide the financial impacts of such risks or to follow through on announcements or discussions regarding climate risks and emissions targets in their financial statements; it is also unclear if their auditors are assessing these issues in their audits.

In an update to Carbon Tracker’s seminal Flying Blind report we will explore the following questions:

• How can companies improve their financial reporting and auditors their reports to address these shortfalls?
  Why should companies make climate-related assumptions and estimates more visible in their financial statements? What should regulators be doing here?
• What are the biggest gaps in information?
• Most companies do not tell a consistent story across their reporting. Why is this important?
  What can investors, regulators and auditors do to address these shortcomings?
• How can companies align their reporting  to their climate-related strategies, as well as the drive to net zero by 2050 (or sooner)?
• This event will bring together an expert group of voices to discuss these questions and bring this important dialogue to Climate Week NYC. A livestream will also be available for global audiences.  

Speakers include:

• Allison Herren Lee, Former Commissioner
• Barbara Davidson, Head of Accounting, Audit & Disclosure, Carbon Tracker
• Gilly Lord, Global Leader, Public Policy & Regulation, PwC
• Mark Campanale, Founder & Executive Chairman, Carbon Tracker
• Tracey Cameron, Director, Corporate Climate Engagement, Ceres
• Piers Hugh Smith, Investment Stewardship Manager, Franklin Templeton

*Please note that the timing of the event is in ET*