New IFAC Report Highlights a Challenges and Gaps in Corporate Climate Reporting with Emissions Target and Transition Plans

9 November 2022

IFAC’s new report: Getting to Net Zero: A Global Review of Corporate Disclosures focuses on corporate emissions reduction reporting. While substantially fewer companies disclosed information on emission reduction targets, the report found that there is inconsistency and incomparability of these target disclosures which may pose challenges for investors, regulators, and other stakeholders who require actionable information. There is a need to move global policy towards more useful disclosures on climate-related targets and transition plans.

What is Getting to Net Zero?

Getting to Net Zero is based on 2020 corporate reporting and provides a useful benchmark for climate disclosures which are under development by the International Sustainability Standards Board (ISSB), the U.S. Securities and Exchange Commission (SEC), and the European Financial Reporting Advisory Group (EFRAG), among other initiatives. The report also comes during the COP27 conference in Sharm El-Sheikh, Egypt, where delegates from over 190 countries, many of which have proposed or set net-zero targets for around mid-century, gather to discuss and progress climate actions.

Read about getting to net Zero here:

Read IFAC’s Getting to Net Zero: A Global Review of Corporate report here.