While politicians met to discuss a reduction in worldwide greenhouse gas
emissions, the event saw some of the auditing profession’s biggest hitters
lobbying for an international standard on carbon emissions reporting to be
ICEAW president Michael Izza chaired a panel discussion involving
representatives from the Big Four to discuss the opportunities and barriers to
standardising global climate change reporting. He presented the audience and
panel with a potential reporting framework for carbon emissions written by the
Climate Disclosure Standards Board, which was open for consultation.
The idea of bolting such a standard onto existing international financial
reporting standards was floated – but one attendant, PricewaterhouseCoopers
sustainability and climate change division partner Alan McGill, believes carbon
reporting needs its own framework, and quickly. “Until you get that consistency
around measurements, organisations probably won’t move as quickly as they could
or should do,” he said.
The International Accounting Standards Board did not attend at the summit
because it believes it is an inappropriate place to discuss standards, owing to
the political nature of the negotiations on carbon reduction.