Case study: corporate climate disclosures - a leading company’s implementation and lessons learned
Climate-related financial reporting is evolving rapidly in the UK. Regulatory requirements such as the Streamlined Energy and Carbon Reporting (SECR) rules and the Companies (Strategic Report) (Climate-related Financial Disclosures) Regulations mean listed companies and larger private businesses must now explain how climate risks and opportunities affect governance, strategy, risk management and metrics. This case study examines the Financial Reporting Council’s first thematic review of UK corporate climate disclosures and looks at how Aviva plc, a leading insurer, is implementing the recommendations. The article highlights what the FRC found lacking, what Aviva is doing well, what remains challenging and offers a framework for sustainability leads to improve their own disclosures.