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Roundtable on The Climate Disclosure Challenge – Can existing accounting, reporting and assurance standards accommodate the Financial Stability Board Taskforce recommendations?
1 July 17
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.