Sky News Business editor Ross Greenwood says 20 of Australia’s top professional, industry and investor associations have come together to prepare a joint submission to the International Sustainability Standards Board.
The group reached consensus on the need to incorporate sustainability reporting, including climate risk, into corporate accounting standards.
“For some publicly traded companies, particularly those with high carbon footprints, this could force them to significantly devalue their key assets,” Greenwood said.
“Of course, the changes will be the subject of intense debate, especially about which assets are the most vulnerable and therefore most in need of writing down.”
Agreement reached on corporate climate risk reporting
Source link Agreement reached on corporate climate risk reporting