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Reporting climate change under FRS 102

Anna Malcolm considers how UK GAAP reporters should account for and disclose the effects of climate change under FRS 102.

Businesses affected

Many UK GAAP preparers will be subject to the requirement in UK company law to prepare a strategic report, although much of the forward-looking content is required only of quoted companies, many of which will not be UK GAAP preparers. However, the strategic reports of UK preparers must give a description of the principal risks and uncertainties facing the company, which would include the risks of climate change, if these are material to the business.