AGM season to focus on quantifying climate impacts within company accounts

The Investment Association has identified "accounting for climate change" as a critical focus area for AGM season in 2023.

In its annual Shareholder Preferences report, the IA said: "When companies do not take climate-related matters into account, their financial statements may include overstated assets, understated liabilities and overstated profits." In 2022, the investment manager trade body found just 52% of companies incorporated the financial impact of climate-related risks into their financial accounts, with audit committees within this group rarely making a statement to confirm this.  Fed chair argues for limited role of bank on climate change The body acknowledges the industry still awaits a g...