Roundtable on The Climate Disclosure Challenge – Can existing accounting, reporting and assurance standards accommodate the Financial Stability Board Taskforce recommendations?

This Roundtable was arranged by Chartered Accountants ANZ and CPA Australia, in cooperation with the Commonwealth Climate & Law Initiative (CCLI).
The Financial Stability Board (FSB) Taskforce on Climate-Related Financial Disclosures (TCFD) presented its final Recommendations to the FSB and G20 in Hamburg on 7-8 July, 2017. Whilst ‘voluntary’, the TCFD Recommendations are an influential statement on those forms of analysis and disclosure required to present a ‘true and fair view’ of material climate change risks, and their impact on corporate performance and prospects. With most Australian listed entities having a 30 June year-end, Australia was amongst the first jurisdictions to consider the application of the TCFD Recommendations in the preparation of annual reports and audited financial statements.