Accounting Financial Theory Report: Climate Change Risk Disclosure
VerifiedAdded on 2023/01/04
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AI Summary
This report, prepared for the CEO of an Australian listed company, addresses environmental and climate change risk reporting. It begins with an introduction highlighting the importance of voluntary sustainability and environmental reporting, particularly in light of increasing environmental concerns. The report focuses on the Carbon Disclosure Project (CDP) as a voluntary reporting framework, explaining its purpose, operational areas (Climate, Water, Forests), and how it helps companies manage environmental impacts. The report details how CDP addresses disclosure limitations related to environmental aspects, enabling companies to measure and disclose GHG emissions, implement internal carbon pricing, and develop emission reduction targets. It also contrasts Integrated Reporting (IR) with GRI Sustainability Reporting, highlighting their conceptual differences and distinct focuses on stakeholders, time horizons, and materiality. The report concludes by emphasizing the crucial differences between the two reporting frameworks, which companies must consider when adopting them. The report is a comprehensive analysis of environmental reporting frameworks and their implications for corporate strategy and investor relations.
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