Financial Reporting

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Defining “Material” Climate Risks

Companies know climate change is relevant to their businesses, but they don’t address it in corporate reports because corporate leaders don’t believe it’s material to their business. The effects of climate change are beyond their planning horizon, they think, or they just aren’t clear whether or how climate change might be a material business risk. The Financial Stability Board (FSB) is hoping to change that.

The Trouble With Too Much Board Oversight

The high-profile scandals of the late 1990s have increased the oversight duties of independent directors. Has the increased focus on board oversight improved the quality of board monitoring? And can board oversight become detrimental to desirable objectives? This article focuses on three aspects of oversight: design and implementation of suitable executive compensation packages; removal of underperforming CEOs; and disclosure of earnings that reflect the company’s true financial conditions.

Robert Eccles, professor of management practice at Harvard Business School

Get Ready: Mandated Integrated Reporting Is The Future of Corporate Reporting

Trying to create reporting standards that integrate environmental, social and governance performance along with financial information is “fraught with conflict” and an “almost political adjudication process,” says Harvard Business School’s Robert Eccles. That’s why he loves it.

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