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Rulemakers Want Companies to Give More Climate Change Insights

April 2, 2019, 8:38 PM

International accounting rulemakers will rely on the management commentary section of financial reports to inform investors about the effects of climate risk on a business and won’t join the crowded field of those trying to write sustainability standards.

International Accounting Standards Board Chairman Hans Hoogervorst said April 2 an expanded commentary section of financial reports can offer sufficient additional information about the effects of environmental, social, and corporate governance on the bottom line.

“Setting sustainability reporting standards requires expertise that we simply do not have. Moreover, there are already more than enough standard-setters active in this field,” Hoogervorst said ...