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Verena Ross' speech at 2022 EFRAG Conference Where Is Corporate Reporting Heading?, 7 December 2022

· Verena Ross, Chair of the European Securities and Markets Authority (European Union)

Summary written by Dark Majestic in its own words · topics: climate, energy and nature

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· Verena Ross Wiki · European Securities and Markets Authority WikiVerena Ross' speech at 2022 EFRAG Conference Where Is Corporate Reporting Heading?, 7 December 2022

ContextIntroductory remarks to a panel on financial reporting at the 2022 EFRAG Conference in Brussels; ESMA protects investors and oversees how companies report.

Why it mattersRoss wants climate risks reflected in company accounts.

Problems raised
  1. Financial reporting lags investors' new needs.
  2. Climate risks are not well reflected in accounts.
  3. Financial and sustainability reports are poorly connected.
Solutions proposed
  1. Bring financial reporting up to speed quickly.
  2. Support the IASB project on climate risks.
  3. Treat the true and fair view and the management report as linked.
Read full speech on esma.europa.eu ↗

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