A recent survey by EY reveals that companies are making some progress in their climate disclosures, but there is still much work to be done to meet the new sustainability reporting standards set by the IFRS Foundation’s International Sustainable Standards Board (ISSB). The study analyzed the disclosures of over 1,500 companies across various sectors and countries. While the number of companies reporting on climate-related factors has increased, the quality of reporting remains low. Sectors with higher exposure to climate-related risks tend to have better disclosure scores. The report also highlights companies’ mixed readiness in meeting the requirements of the new climate reporting standards, particularly in risk management and metrics/targets. Additionally, companies are more focused on risks rather than opportunities in their climate reporting, and there is a lack of disclosure on the link between climate impact and financial performance.
Survey: https://www.ey.com/en_gl/climate-change-sustainability-services/climate-risk-barometer-survey