Dialogue meeting: Accounting for climate
Are climate-related matters relevant to financial reporting? How should climate-related matters be factored into a company’s financial reporting? What steps can companies take to integrate material climate-related matters into financial reporting?
In the five years since the TCFD (Task Force on Climate-Related Financial Disclosures) was established, companies, investors, and policymakers have shown significant support for the TCFD. But many companies struggle with linking this information back to their financial statements. For this reason, CDSB has recently published guidance to help companies address the effects of such issues in their audited financial statements.
This digital dialogue meeting will explore the recommended steps and approaches described in the guidance. The guidance does not seek to create new accounting standards in relation to climate-related matters but builds on International Accounting Standards Board’s (IASB) position on how material climate-related risks should be integrated into financial reporting based on current International Financial Reporting Standards (IFRS) Standards.
This dialogue meeting is arranged in coorporation with Dansk Regnskabsforum under the auspices of DI Confederation of Danish Industry. The meeting facilitators are:
- Jane Thostrup Jagd, member of FSR – Danish Auditors’ Committee on Sustainability and Corporate Responsibility
- Kristian Koktvedgaard, Head of VAT, Accounting and Auditing at Confederation of Danish Industry
Program
15:00 - 15:15: Welcome and setting the scene for the day's dialogue.
Jane Thostrup Jagd, member of FSR – Danish Auditors’ Committee on Sustainability and Corporate Responsibility
15:15 - 15:40: Why are climate-related matters relevant to accountants and auditors? Investor and other stakeholder expectations for financial reporting.
Stathis Gould, Director, IFAC
15:40 - 16:05: How should climate-related matters be factored into a company’s financial reporting? Covering examples for IAS 1 ‘Presentation of Financial Statements’, IAS 16 ‘Property, Plant and Equipment’, IAS 36 ‘Impairment of Assets’ and IAS 37 ‘Provisions, Contingent Liabilities and Contingent Assets’.
Barbara Davidson, Senior Analyst, Carbon Tracker
16:05 - 16:30: Next steps for preparers and auditors in addressing climate-related matters. Practical next steps.
Simon Weaver, Partner, KPMG UK
16:30 - 16:50: Dialogue and Q&A
16:50 - 17:00: Closure
Kristian Koktvedgaard, Head of VAT, Accounting and Auditing at Confederation of Danish Industry
