By Georgina Wade
A new guide from law firm MinterEllison is highlighting developments made in climate risk governance and disclosure that are critical to the provision of a true and fair view of financial position, performance and prospects, and to the management of misleading disclosure risks under the Corporations Act.
The guide, “Are your finance and governance teams ready? Responding to heightened expectations on climate-related disclosure and assurance”, contains a useful background to the evolution of climate change from an environmental to a financial issue, and goes on to capture contemporary developments in the realm of financial risk disclosure. Recent developments include the AASB/AuASB’s joint guidance on the integration of climate change-related risks into financial statement materiality considerations, to scenario-planning under the recommendations of the Taskforce on Climate-related Financial Disclosures.
This comes just after their recent Insight publication, “New developments impact climate change related risks”, examining recent developments that are likely to impact the way that Australian listed companies consider climate change related risk.
Click here to access the guide.
Learn more about Acclimatise’s work on climate risk disclosure here.