Top accounting body will not add to climate change rules overload

FILE PHOTO: General view of the Walney Extension offshore wind farm operated by Orsted off the coast of Blackpool, Britain September 5, 2018. REUTERS/Phil Noble/File Photo

In the first indication of the role the International Accounting Standards Board sees for itself in policing the reporting of sustainability by companies, its chair Hans Hoogervorst signaled little appetite for mandatory rules. Hoogervorst, a former Dutch finance minister and a convert from scepticism over global warming, said the best way to make companies change was by having standards that focus on the impact of sustainability issues on future profit, which was not happening with the existing plethora of rules.

“Yet another agency puts it somewhere in the middle. People may be forgiven for not making head or tail of it. Moreover, with so many standards, the potential for disclosure overload is enormous,” he added.

Gee aren't these wind turbines ugly on the landscape.

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