Global Rulemaker Wants Financial Reports to Reflect Climate Risk
- IASB launches consultation on how best to present data
- Investors voice frustration over lack of uniform reporting
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The International Accounting Standards Board is urging companies to disclose climate-related risks in their balance sheets and income statements, representing a key shift from existing norms.
IASB, which develops accounting standards followed in more than 160 countries, said on Wednesday that it’s launching a market consultation with a view to having financial statements reflect the impact and uncertainties related to climate change.