Editorial

Climate risk continues to be a concern for companies and regulators

A primary focus of this month's issue is climate risk, a topic of increasing concern to scientists, governments, corporations and regulators, and the IASB is no exception. It is currently working on a project, Climate-related and Other Uncertainties in the Financial Statements, upon which it embarked following feedback to its 2021 Agenda Consultation, which sought stakeholders' views on the board's priorities for the years 2022 to 2026. As IASB chair Andreas Barckow has had cause to remind his fellow members, this is classified as "a maintenance project", which means that it involves maintaining and supporting the consistent application of the Accounting Standards, as opposed to specifying additional reporting requirements. The implication of this categorisation was explicitly set out in the board's feedback statement,¹ which stated: