ASTM International - ASTM E2718-16
Standard Guide for Financial Disclosures Attributed to Climate Change
|Publication Date:||1 August 2016|
|ICS Code (Finances. Banking. Monetary systems. Insurance):||03.060|
significance And Use:
4.1 Uses-This guide is intended for use on a voluntary basis by a reporting entity that provides disclosure in its financial statements regarding financial impacts attributed to climate... View More
4.1 Uses-This guide is intended for use on a voluntary basis by a reporting entity that provides disclosure in its financial statements regarding financial impacts attributed to climate change. The degree and type of disclosure depends on the scope and objective of the financial statements. This guide is intended to apply to U.S. and international operations at the discretion of the reporting entity.3 The user should be aware that there may be contractual obligations, court decisions, or regulatory directives that may affect the flexibility in use of this guide. The user should also maintain an awareness of international regulations that may be relevant to disclosures, such as those of the International Accounting Standards Board and International Financial Reporting Standards.
4.2.1 The following principles are an integral part of this guide and are intended to be referred to in resolving any ambiguity or dispute regarding the interpretation of financial disclosures regarding financial impacts attributed to climate change.
184.108.40.206 Uncertainty Not Eliminated-Although a reporting entity, as of the time when its financial statements are prepared, may have evaluated the existence and extent of financial impacts attributed to climate change, there remains uncertainty with regard to the final resolution of scientific, technological, regulatory, legislative, and judicial matters, which could affect its financial impacts attributed to climate change. These uncertainties cannot be eliminated. While this standard recommends the development of reasonable scenarios or ranges to recognize and address uncertainties, it is unlikely that all climate change uncertainties will be foreseeable. However, it is likely that some financial impacts attributed to climate change are foreseeable and that alternatives, boundaries, or ranges of potential impacts can be assessed and quantified.
220.127.116.11 Comparison with Subsequent Disclosures-Subseque
18.104.22.168 Not Exhaustive-Appropria
1.1 Purpose-The purpose of this guide is to provide a series of options or instructions consistent with good commercial and customary practice for climate change-related disclosures accompanying audited and unaudited financial statements. This guide encourages consistent and comprehensive disclosure of financial impacts attributed to climate change.
1.2 Objective-The objective of this guide is to determine the conditions warranting disclosure and the content of appropriate disclosure.