Pension funds and Defined Contribution members called to action on climate change

by Carol A Adams The Chair of the British Government’s cross-party Environmental Audit Committee (EAC), Mary Creagh, has written to the Trustees of the country’s top 25 pension funds asking some probing questions about climate change risks, reporting of such risks and policy interventions on climate risk reporting. This is an important, if belated, development […]

Bringing to life the value creation process in corporate reporting

by Kerry Hicks, Senior Policy Advisor, Australian Institute of Company Directors The reporting process should be seen as an investment which can bring huge rewards, says Dr Carol Adams. This interview with Carol Adams was first published by the Australian Institute of Company Directors here Dr Carol Adams is an author, consultant and Non-Executive Director […]

How accounting and reporting can grow sustainable finance

by Carol A Adams How can the financial sector support a more sustainable and inclusive economic system which is low carbon and resource efficient?  This question was tackled by a European Union (EU) ‘High Level Group of Experts’ in a report published last month. It notes the increasing relevance of sustainability information for investors and […]

Corporate Governance Code consultation tackles the big issues

by Carol A Adams Ethnic diversity, the UN Sustainable Development Goals, wider stakeholder interests and encouraging a longer-term focus are some of the issues considered in the UK Financial Reporting Council’s (FRC) consultation on the revision of the Corporate Governance Code. Elsewhere many corporate governance codes are yet to address these issues and, whilst the […]

UK Financial Reporting Council consults on non-financial reporting

by Carol A Adams The UK’s Financial Reporting Council (FRC) has responded to the incorporation of the EU Directive on non-financial information into the UK Companies Act by amending its guidance on the Strategic Report.  UK companies with more than 500 employees are required by law to prepare a Strategic Report and now, across the […]

New approach for businesses seeking to contribute to the SDGs

by Carol A Adams My report outlining a new approach supporting businesses looking to contribute to the achievement of the Sustainable Development Goals (SDGs) has been published today by the International Integrated Reporting Council (IIRC) and ICAS (the professional accountancy body), in partnership with the Green Economy Coalition. While overall responsibility for the SDGs lies […]

Narrative reporting for financial reports – risk and governance

This second post on narrative reporting for financial reports, focuses on contemporary discussions on: Risk reporting (market, credit, liquidity and estimation risks) Governance reporting Environmental, Social and Governance (ESG) Risk Reporting It briefly sets out where narrative disclosures could be improved – and why they should be. Risk reporting (market, credit, liquidity and estimation risks) […]

Contemporary issues in narrative reporting for financial reports – the business model

by Carol A Adams There are some interesting contemporary debates in narrative or non-financial reporting.  As ICAS notes  that the term non-financial reporting refers to information which is included in those parts of corporate reports outside the financial statements. But much of that information does in fact have the potential to have a financial impact […]

Conceptualising the contemporary corporate value creation process

By Carol A. Adams The purpose of this paper is to examine and explain the complex interrelationships which influence the ability of firms to create value for their providers of finance and other stakeholders (loosely referred to in practice as “integrated thinking”). In doing so it examines the interrelationships between: environmental, social and governance (ESG) […]

The TCFD recommendations: a missed opportunity for harmonisation?

by Carol A Adams The Task Force on Climate-related Financial Disclosures (hereafter Task Force) was established by the Financial Stability Board (FSB), an international body that monitors the global financial system. Chaired by Michael Bloomberg the UN Secretary-General’s Special Envoy for Cities and Climate Change, it published recommendations in December 2016. The purpose of the […]