The Financial Reporting Council will analyse how UK firms and their auditors “assess and report” the impact of climate change.
Like it or not, the climate-risk reporting of UK companies is about to come under close scrutiny.
This week the UK’s corporate reporting watchdog, the Financial Reporting Council (FRC), revealed that it will review how companies and their auditors “assess and report” the impact of climate change.
That should come as no surprise. Recent studies and campaigning have focused on relatively poor quality reporting on sustainability and climate leaving close observers with little doubt that many companies are yet to fully engage with reporting climate issues, prompting questions about how they are actually addressing real-world risks.
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