WTW has published the latest edition of its Climate Reporting Comparative Table, with the goal of providing a comprehensive overview of climate-related financial disclosure requirements across key global jurisdictions.

Designed to help firms align their internal reporting processes with evolving global standards, manage climate-related risks and opportunities, and plan for upcoming compliance requirements, the table also serves as a communication tool through which to engage with stakeholders.

Peter Carter, head of climate practice and head of captive and insurance management solutions, WTW said the tool was designed to help firms navigate what has become a highly complex set of regulatory frameworks, and to help better track company-wide activities.

"We believe it is essential to look beyond mere disclosure and actually utilise resources such as diagnostic and quantification tools to aid the climate risk management process," he said. "The core message is clear: to successfully deliver your net-zero or transition commitments, you must model the associated risks."

Amongst the regulatory requirements covered by WTW’s tool are:

• The International Financial Reporting Standards’ (IFRS) International Sustainability Standards Boards’ (ISSB) S1 and S2;

• the Financial Stability Board’s (FSB) Task Force on Climate-related Financial Disclosures (TCFD);

• the Securities and Exchange Commission (SEC) climate rule to standardise climate-related disclosures for investors in the US; and

• the EU’s Corporate Sustainability Reporting Directive (CSRD) alongside the EU Taxonomy common classification scheme for sustainable economic activities.

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