FRC: Call for Participants in new Lab project - Climate and workforce reporting
12 Sep 2018 01:58 PM
The Financial Reporting Lab (the Lab) is inviting investors and companies to participate in a new project on the disclosure of climate change and workforce information. This project will consider how the recommendations identified in the Lab’s previous reports on business model reporting, risk and viability and performance metrics apply to companies’ reporting on climate change and their workforce. Participants can express an interest in one or both of the topics.
Scope of the project
Using the investor-identified attributes of good reporting in previous Lab reports (in particular explanations of business models, stress testing and scenario analysis used in the preparation of risk and viability reporting, and the reporting of wider metrics), the project seeks to identify how climate and workforce disclosures can be reported most effectively.
The scope of the project will develop in light of the contribution from those that participate. However, it is likely to:
- explore how companies understand, measure and report on climate change and workforce issues, especially in the context of new reporting requirements;
- examine how investors use this information in their decision-making process and consider whether the emerging reporting meets investor needs;
- identify where best practice reporting of material information overlaps with relevant frameworks under which companies may develop their reporting, for example, the Task Force on Climate-related Financial Disclosures’ recommendations;
- discuss which areas of reporting are most challenging for companies;
- consider the extent to which lessons can be learnt from emerging international reporting practice; and
- highlight best practice in company reporting.
Participation
We invite investors and companies to nominate their interest in participating by emailing FinancialReportingLab@frc.org.uk. Participants can express an interest in one or both of the topics (climate and/or workforce).
The opportunities for participation will develop, but typically consist of a combination of
individual meetings of an hour and round table meetings of 2-3 hours. Participants will be kept updated on the progress of the project throughout and are given an opportunity to comment on drafts of the reports where they have been involved. A final report is likely to be published in autumn 2019.
If you would like to find out what it is like to participate in a Lab project, you can watch a short video at the following link: https://www.youtube.com/watch?v=6L9UGyaINoY.
Further information on the Lab, including its published reports, can be found at: https://www.frc.org.uk/investors/financial-reporting-lab.
Contact the Press Office
Alana SinnenCommunications Manager