FRC Lab seeks participants for climate reporting project
13 Sep 2018
The Financial Reporting Lab is looking for investors and companies to take part in a new project on the disclosure of climate change and workforce information
13 Sep 2018
The aim is to identify how climate and workforce disclosures can be reported most effectively.
This project will consider how the recommendations identified in the Lab’s previous reports on business model reporting, risk and viability and performance metrics apply to companies’ reporting on climate change and their workforce. Participants can express an interest in one or both of the topics.
The Lab says the scope of the project will develop in light of the contribution from those that participate.
However, it is likely to explore how companies understand, measure and report on climate change and workforce issues, especially in the context of new reporting requirements.
The project will examine how investors use this information in their decision-making process and consider whether the emerging reporting meets investor needs. It will look at identifying where best practice reporting of material information overlaps with relevant frameworks under which companies may develop their reporting, such as the recommendations from the task force on climate-related financial disclosures.
In addition, the project will discuss which areas of reporting are most challenging for companies, consider the extent to which lessons can be learnt from emerging international reporting practice, and highlight best practice in company reporting.
The Financial Reporting Council (FRC) says opportunities for participation will develop, but typically consist of a combination of individual meetings of an hour and round table meetings of two to three hours. Participants will be kept updated on the progress of the project throughout and are given an opportunity to comment on drafts of the reports where they have been involved. A final report is likely to be published in autumn 2019.
Investors and companies who are interested in participating should email FinancialReportingLab@frc.org.uk
Report by Pat Sweet