02 November 2021
We Mean Business Pavilion
2 November | Glasgow
Significant global attention on how business and capital markets are responding to the climate crisis, including increasing regulatory and investor scrutiny, challenges companies and professional accountants to play an active role in determining the way climate change information is reported in the upcoming 2021 reporting cycle and in future years. Although financial reporting standards have not changed, investors and other stakeholders now consider climate change to be a material issue that can have financial consequences for most companies. The move to global sustainability standards addressing enterprise value under the IFRS Foundation will also enhance the quality of climate-related and overall climate-related information for investors.
In preparing their 2021 financial reports in the context of changing expectations about climate-related disclosures, accountants must evaluate what some stakeholders would like companies to report and where they would like it reported (in the financial statements versus the “narrative” sections of annual, integrated or sustainability reports, or elsewhere) in the context of what is required/allowed under current professional standards (i.e., financial reporting standards and audit and assurance standards) and regulatory requirements.
Professional accountants in business and in public practice have a critical role to play in assisting companies reconcile these different perspectives while complying with existing reporting obligations, regulatory requirements, and their professional responsibilities.
By partnering with IFAC, the global voice for the accountancy profession, the CDSB will be able to bring the global profession comprising 180 professional bodies representing over 3.5 million accountants to the discussion and connect them with the UNFCCC’s climate action process, and to raise awareness of their respective roles and to understand how reporting can be part of the solution to the climate crisis.
Barbara Davidson, Senior Analyst Regulatory & Accounting from Carbon Tracker will be participating in the discussion.
Find out more. Please note that a UNFCCC accredited pass is required to attend.