Standard Setter to Show Companies Right Way to Report on Climate

There is no need to change existing global accounting rules to make companies add more detail on the impact of climate change to their financial statements, standard setters agreed Monday.

All 14 members of the International Accounting Standards Board voted instead to publish seven examples of how to report on the risks from climate change under existing accounting standards. These state that all material risks must be reported in the financials, including those from climate change.

• “It wasn’t as easy as we thought it might have been but I think it was a very good outcome,” IASB Chair Andreas Barckow ...