KPMG launches Climate Reporting hub

KPMG has announced the launch of its new digital hub, “Clear on Climate Reporting,” designed to assist companies in navigating the complexities of climate-related financial disclosures. This initiative comes at a critical time when companies are under increasing scrutiny from investors, regulators, and the public regarding their climate-related commitments and the financial implications thereof.

The hub offers a comprehensive suite of resources, including FAQs, podcasts, and videos, to help businesses clearly communicate the financial impacts of climate-related risks and opportunities.

According to KPMG, the Clear on Climate Reporting hub is expected to be the go-to resource for companies looking to align their financial and non-financial information. The platform covers a wide range of topics, from net-zero commitments and emissions schemes to ESG measures in executive pay and the financial implications of purchasing carbon credits.

Larry Bradley, Global Head of Audit at KPMG International, emphasised the importance of connecting the dots between what is described in the front of the annual report and the financial statements. “It is important that companies both comply with the IFRS Accounting Standards and connect the dots between financial and non-financial information.”

The hub aims to provide clarity and connectivity between a company’s financial and sustainability performance. Brian O’Donovan, Global IFRS and Corporate Reporting Leader at KPMG International, highlighted the necessity for companies to be transparent about the financial implications of their climate-related plans.

“Essentially, companies need to tell investors what the financial implications of their climate-related plans are; and if they believe there’s no financial impact, tell investors why,” O’Donovan explained.

This transparency is crucial as investors are increasingly looking for a connected picture of performance, showing the financial implications of sustainability plans and actions. Essentially, companies need to tell investors what the financial implications of their climate-related plans are; and if they believe there’s no financial impact, tell investors why.

KPMG has committed to continuously expanding the resources available on the hub. A new emissions section is set to be added soon, reflecting the firm’s dedication to providing robust tools to help businesses stay ahead in their climate reporting journey.

The hub’s resources will be regularly updated to ensure they remain relevant and comprehensive, addressing the evolving landscape of climate-related financial reporting.

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