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COP26

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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