Accounting for climate

Integrating climate-related matters into financial reporting

CDSB has identified a need to support preparers in integrating climate-related matters into the financial statements. This guidance does not seek to create new accounting standards in relation to climate-related matters, but builds on International Accounting Standards Board’s (IASB) position on how climate-related matters should be integrated into financial reporting based on current International Financial Reporting Standards (IFRS) Standards.

This guidance will seek to address three main questions: Are climate-related matters relevant to financial reporting? How should climate-related matters be factored into a company’s financial reporting and what this might look like? What steps can companies take to integrate material climate-related matters into financial reporting?

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Chapter 1: Are climate-related matters relevant to financial reporting?

  1. Climate change and the IFRS Standards 
  2. Regulation, assurance and climate-related financial reporting 
  3. Investor expectations 
  4. Summary – climate change and financial reporting 

Chapter 2: How should climate-related matters be factored into a company’s financial reporting?

  1. IAS 1 – Presentation of Financial Statements 
  2. IAS 37 – Provisions, Contingent Liabilities and Contingent Assets 
  3. IAS 36 – Impairment of Assets 
  4. IAS 16 – Property, Plant and Equipment 

Chapter 3: Next steps for preparers 


  • Appendix A – Illustrative examples 
  • Appendix B – Climate-related legal and regulatory disclosure requirements 
  • Appendix C – Assurance 
  • Appendix D – Investor and climate reporting 


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