Comments: In a London meeting room recently, the International Accounting Standards Board decided that corporate climate targets were not just about sustainability: they could create direct financial consequences for companies’ balance sheets.
And as interpretation decisions from this board also inform public sector accounting, it also provides guidance for how public entities, councils and countries financially account for the cost of meeting climate targets. It has potential trillion-dollar consequences for the New Zealand Government’s financial statements.
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Rob Morrison is Chairman of Morrison (formerly HRL Morrison & Co) and former Chairman of Kiwibank and Hong Kong-based CLSA Asia Pacific Markets. Rob also chairs Pure Advantage, is a director on… More by Rob Morrison
Dr Christina Hood is an internationally recognized policy expert in climate change, energy, and carbon pricing. She led the International Energy Agency’s Environment and Climate Change Unit and has worked… More by Dr Christina Hood
Tags: obscure climate accounting decision trilliondollar consequences
