Financial Disclosures Attributed to Climate Change the Focus of New Standard
A new ASTM International Standard provides a process for identifying potential financial risks/opportunities associated with climate change, quantifying the financial impact of those risks, and determining the appropriate content of disclosure for material risks.
A new ASTM International Standard provides a process for identifying potential financial risks/opportunities associated with climate change, quantifying the financial impact of those risks, and determining the appropriate content of disclosure for material risks.
ASTM E2718, Guide for Financial Disclosures Attributed to Climate Change can be useful to both public and private entities that are developing financial reports, says Gayle Koch, a member of the E50.05 task group that developed the standard.
“Given that shareholders are requesting climate change-related information from companies, there is a reasonable likelihood that these impacts are material and therefore should be disclosed,” says Koch. “E2718 provides guidance for moving through that process.”
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