Climate Week NYC: Accounting for Climate

Companies (and their auditors) are already required to include the impacts of material climate-related matters in audited financial statements.

While we have seen some progress from FY2020, overall it appears that companies (and their auditors) are still failing to assess the financial impacts of climate-related risks on, and disclose relevant assumptions and estimates in, their financial statements.

Carbon Tracker’s latest research indicates that companies are failing to provide the financial impacts of such risks or to follow through on announcements or discussions regarding climate risks and emissions targets in their financial statements; it is also unclear if their auditors are assessing these issues in their audits.

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