KPMG Launches ‘Clear on Climate Reporting’ Platform to Assist Companies with Climate-Related Financial Disclosures”

KPMG, the global professional services firm, has launched a new digital platform called “Clear on Climate Reporting” to help businesses navigate the complex landscape of climate-related financial reporting. [2]

The hub offers a wide range of resources to assist companies in addressing various climate-related reporting challenges, including:

Understanding Financial Implications

• Determining the impacts of climate-related matters on financial statements [1]
• Providing relevant and transparent disclosures to enable investor understanding [1]
• Adhering to IAS 1 requirements for information that could influence investor decisions [1]

Accounting for Emissions and Green Initiatives

• Accounting for emissions programs and voluntary carbon credit schemes [1]
• Evaluating the impact of green initiatives on assets, liabilities, and cash flows [1]

Integrating ESG into Executive Compensation

• Incorporating ESG metrics, including climate-related targets, into executive pay packages [1]

The platform currently features FAQs, podcasts, and videos to help companies assess the potential financial statement impacts of their climate-related strategies and decisions. [1][2] Future updates will include additional resources, such as a dedicated section on emissions accounting. [2]

KPMG emphasizes the importance of aligning annual report disclosures with financial statements to provide investors and regulators with a comprehensive and coherent view of a company’s climate-related performance and risks. [2] The firm also stresses the need for companies to adhere to IFRS Accounting Standards while bridging the gap between financial and non-financial data. [2]

Sources:

[1] Clear on climate reporting – KPMG Global
[2] KPMG Launches New Climate Reporting Resources Hub – ESG Today
[3] Launch of KPMG’s ‘Clear on Climate Reporting’ Hub (3blmedia.com)
[4] KPMG unveils hub to help firms address climate reporting requirements | Sustainable Insurer (sustainable-insurer.com)
[5] Climate change financial reporting resource centre (kpmg.com)

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