Global rulemaker wants financial reports to reflect climate risks

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Global rulemaker wants financial reports to reflect climate risks - Business Mirror

Quick Summary:

The International Accounting Standards Board (IASB) is urging companies to disclose climate-related risks in their balance sheets and income statements, representing a key shift from existing norms.

The decision comes amid signs of investor confusion about the lack of uniformity in climate disclosures as extreme weather patterns increasingly leave their mark.

The IASB consultation, which is seeking feedback on how best to present climate-risk data in the context of financial reporting, will be open until November 28.