Accounting for Climate Change - where do you stand?

Cartoon thanks to Graham Mackay, illustrating the importance of climate change initiatives relative to other risks in our risk Registers at the moment. I attended the Deloitte Academy Webinar: Climate Change response-The impact on the Audit and Risk Committee. Which emphasised the responsibility of the Audit and Risk committees and ultimately the Board in integrating climate change into our day to day decisions. The responsibilities in disclosing climate change risks and working with our auditors to disclose, account and audit initiatives and progress.

We need standards and the work of the TCFD, SASB and IFRS/IASB have a long way to go in providing measurable comparable and consistent disclosures. (back to the concerns raised in the cartoon above!)