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Mandatory climate reporting poses significant challenges as well as opportunities for reporting entities. The finance function has a key role to play in ensuring connectivity between the financial statements and the sustainability report, as well as helping to build a high-quality, audit-ready reporting process that informs management decision-making.
Given their skills, knowledge, experience and familiarity with the process of preparing financial statements and navigating assurance, it is no surprise that we are seeing finance professionals increasingly involved in climate-related reporting. Finance can and should be playing a key role in the setup and ongoing reporting of information about climate-related risks and opportunities (CRROs), and in bringing connectivity with the financial statements and underlying reporting processes. However, for many finance professionals, notwithstanding climate-related reporting’s foundations in financial reporting principles, it may still feel like unfamiliar territory. In this publication, we share our observations of how the finance function can bring its unique skills and experience, helping make the journey to climate-related reporting as smooth as possible whilst demonstrating its value in a new space.
Finance and the journey to climate-related reporting
Summary
The EY Sustainability Disclosure Hub offers practical guidance to assist companies across the region prepare for mandatory reporting of climate and sustainability-related reporting. Please reach out to our Sustainability Disclosure Hub team to discuss what the requirements in the exposure draft mean to you.