In 2020, IEMA and the Institute and Faculty of Actuaries (IFoA) published their first joint guidance paper for users of climate-related financial disclosures.
Since then there have been many developments in climate-related financial disclosures, which are being adopted by growing numbers of organisations. Last year, the International Financial Reporting Standards (IFRS) Foundation published new standards on sustainability and climate disclosures, which are set to be adopted by financial regulators around the world, and the Taskforce on Climate-related Financial Disclosures (TCFD) recommendations have been formally rolled into the IFRS frameworks.
Given all this activity, it was high time to update and republish the guidance, incorporating new considerations for users of these disclosures. While the guidance is primarily written for the financial professional, the content will also be of value to other stakeholders who have an interest in the reports that companies publish. The guidance will also be useful to report writers, offering them an insight into the ways in which reports will be read, and perhaps encouraging them to include from the outset the sort of information that financial readers will be seeking.
As with the previous edition, this guidance is a result of collaboration between specialists, which is essential if we are to collectively address the systemic risks that the world faces. The new guidance gives IEMA members best-in-class and up-to-date information on a topic that is constantly evolving in the sustainability sector.
The guidance will be published in the first quarter of 2024.
