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New climate disclosure rules to be set by global accounting body

IFRS standards will allow investors to make clearer comparisons between companies

At COP26 in Glasgow on Wednesday, plans for a new framework for companies' disclosure of their impact on the climate is expected to be announced by the International Financial Reporting Standards Foundation.   © Reuters

TOKYO -- The corporate sector's impact on the climate will come under greater scrutiny as the International Financial Reporting Standards Foundation is set to establish a global standard for companies' disclosure of such risks by June.

Environment-related disclosure standards have been difficult to implement because of a lack of consistency across jurisdictions. But if the disclosure of greenhouse gas emissions and other information is now required under a global framework, investors will be able to compare companies more easily. It is thought that such a framework will push companies to take climate change more seriously.

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