Accounting for climate: connecting impact to financials

2021 has seen mandatory reporting of climate risks gaining momentum. The UK, New Zealand, Japan and Kenya, for example, announced mandatory Task Force on Climate-related Disclosures (TCFD) recommendations. But climate impact is still missing from financial reports as prepares struggle to make the transition from narrative reporting on climate, to rigorous and verifiable financial data.

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Amidst the recent news that the ISSB is set to unify financial climate reporting, thereby making mandatory disclosure appealing for regulators worldwide, preparers continue to need support in reflecting material climate-related and other sustainability-related matters into financial statements as per the IFRS Accounting Standards, under the remit of the IASB.

Following the publication of guidance for integrating climate matters into financial reporting by CDSB in December 2020, we will publish a second supplementary paper, and a checklist, with further guidance and detail. The second supplementary paper, produced with the contribution of KPMG LLP, covers additional IFRS accounting standards identified by the IFRS Foundation as relevant when considering material climate-related risks in financial reporting.

With mandatory disclosure on the horizon, we welcome companies, preparers, accountants and other stakeholders to join the webinar and gain insight on how to produce best practice climate impact reporting in financial statements.
In this webinar we will cover:

  • How climate-related matters should be factored into company financial reporting;
  • Examples of accounting for climate in line with current IFRS accounting standards; and
  • The steps preparers should take to begin integrating climate-related matters into financial reporting, in line with investor and other stakeholder expectations.

Speakers:

  • Ann Tarca, IASB Board Member
  • Helena Watson, Director, Accounting Advisory Services, KPMG
  • Omobolanle Rufai, KPMG 
  • Manisha Santchurn, Senior Manager, Accounting Advisory Services, KPMG