Integrating Climate Events into Financial Reporting

Qingliang Tang ()
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Qingliang Tang: Western Sydney University

Chapter Chapter 4 in Carbon Accounting and Sustainability, Volume I, 2025, pp 119-145 from Springer

Abstract: Abstract As the influence of climate change on business continues to grow, the implications of climate events should be fully reflected in financial statements within existing accounting and reporting frameworks. This chapter first explains why climate events should be integrated into mainstream financial reporting systems. Next consideration is given to the identification of different types of climate-related events that may affect the reporting of corporate assets, liabilities, revenues, and expenses. Finally, this chapter elaborates on how the impacts of climate events should be accounted for and disclosed using appropriate methods and approaches for integrating climate events and financial reporting. This climate-related information is deemed relevant and useful for investors, stakeholders, and users of financial statements who envision a more sustainable future for a commercial organisation.

Keywords: Climate events; Financial reporting; Carbon assets; Carbon liabilities; Disclosure of climate transactions (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-90633-6_4

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DOI: 10.1007/978-3-031-90633-6_4

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