EFRAG published good practices in Europe on how to improve climate-related reporting

Source: EFRAG, 17 February 2020

Recently, the Project Task Force of Climate-related Reporting of the European Lab launched its report: ‘How to improve climate-related reporting –  A summary of good practices from Europe and beyond​’. To mark the occasion a networking event was organised at EFRAG’s premises, with Pascal Canfin, Chair of the EP ENVI Committee, Michèle Lacroix, Chair of Project Task Force on Climate-related Reporting, and Alain Deckers, Head of Unit, EC DG FISMA and Vice-Chairman European Lab Steering Group.​​

As guest speaker Pascal Canfin, Chair EP Committee on the Environment, Public Health and Food Safety delivered the opening speech, stating: “The subject of climate-change is high on the agenda of the ENVI Committee which I chair. Reporting contributes to the transparency showing how companies deal with the impact of climate change. I welcome very much the initiative of the European Lab of stimulating innovation in the field of corporate reporting in Europe by identifying and sharing good reporting practice examples.”

Michèle Lacroix, Chair of PTF-CRR presented the deliverable: “We are pleased to be able to issue a report that reflects the collaboration and collective efforts over the last eleven months of 23 colleagues with diverse nationality, industry and functional backgrounds, and who are all experts on climate-related reporting. The deliverable provides views of cutting-edge reporting to preparers, users and other stakeholders interested in climate-related disclosures. We hope that our report will be beneficial to the stakeholders and will contribute to narrowing differing expectations between preparers and users of climate disclosures.”

Alain Deckers, Head of Unit, EC DG FISMA and Vice-Chairman European Lab Steering Group added: “The European Lab was set up to provide practical insights on corporate reporting and the issuance of the PTF-CRR report comes at a critical point of implementing different aspects of the European Commission’s Action Plan on financing sustainable growth. This report complements legislative efforts to improve transparency on the impact of climate change on companies’ risk exposure and resilience, as well as on the impact of companies on the environment.”

Access the full report