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Press release: 28 November 2019
The International Accounting Standards Board (IASB) today released an update clarifying the implications of climate change-related risks for the application of accounting standards.
ClientEarth lawyer Daniel Wiseman said: “Because of investors’ clear demands, it is now beyond doubt that the financial impacts of climate change will be material for the vast majority of large companies. Directors, accountants and auditors who fail to realise this are now at serious risk of breaching the law.
“This update from the IASB sends a clear signal that companies and their auditors must urgently review how climate change risks and impacts will affect disclosures in financial accounts.”
ClientEarth is a charity that uses the power of the law to protect people and the planet. We are international lawyers finding practical solutions for the world’s biggest environmental challenges. We are fighting climate change, protecting oceans and wildlife, making forest governance stronger, greening energy, making business more responsible and pushing for government transparency. We believe the law is a tool for positive change. From our offices in London, Brussels, Warsaw, Berlin and Beijing, we work on laws throughout their lifetime, from the earliest stages to implementation. And when those laws are broken, we go to court to enforce them.