The findings of the report, Getting to Net Zero: A Global Review of Corporate Disclosures, support the movement in global policy toward rapidly enhancing the usefulness of disclosures on climate-related targets and transition plans.
The report is based on 2020 corporate reporting and provides a benchmark for climate disclosures that are under development by the International Sustainability Standards Board, the U.S. Securities & Exchange Commission, and the European Financial Reporting Advisory Group, among others.
The report came during the 27th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) in Egypt, where delegates from more than 190 countries, many of which have proposed or set net-zero targets for around mid-century, gathered to discuss and advance climate actions.
“With COP27, this is [the] perfect time to dig into what is being disclosed and explore how emissions disclosures need to become more decision-useful,” said IFAC CEO Kevin Dancey. “The accountancy profession is well positioned to drive improvements in climate reporting, ensuring information is trusted and decision-useful for management and boards, investors, and all stakeholders.”
The report is available at here.