Climate Thematic Review 2020

Throughout 2020, the FRC has undertaken a thematic review of climate-related considerations by boards, companies, auditors, professional bodies and investors. 

This scope acknowledged the important role boards, companies, auditors, professional associations and investors play in considering climate-related issues. These important actors assess climate-related challenges, help to drive appropriate reporting to the market, equip accountants and auditors with relevant knowledge and the confidence to challenge, and encourage the behaviour and reporting they want to see. These groups all play important roles in delivering society’s climate ambitions, as each has the capacity to act as a driver of change.

This review highlights our views on current market practice, outlines our expectations, and shows where we will focus our energies in ensuring that those within our remit are responding appropriately to this challenge.

These take the form of:

A summary report bringing together our views on all areas of the thematic review.
A one page summary of our headline findings.	How are boards taking account of climate-related challenges? Read our report on governance.
How are companies developing their reporting on climate-related challenges. Read our report on reporting.	How are auditors taking account of climate-related challenges? Find out in our report on audit.
How are professional bodies and audit regulators taking account of climate change in their regulatory responsibilities? Details in our report on professional oversight.	What do investors want to see? Read our report on investors.

The FRC's position on non-financial reporting

The FRC also published its view on non-financial information, and this position can be found here.