Accounting for climate risks in financial statements

As AGM season approaches, a number of investors are putting audit committee chairs on notice due to their continued omission of climate risks in financial reporting.

Ahead of this year’s annual general meetings, 34 members of the Institutional Investors Group on Climate Change – collectively representing over $7.1tn in assets – have signed letters to 17 of Europe’s largest companies asking why expectations over climate-related accounting disclosures have not been met.