ABSTRACT
Public interest groups have been pressing for greater disclosure of the financial impacts of climate change and the impact on business operations of regulations to limit greenhouse gas emissions. The challenge for businesses considering climate risk disclosure is that there are no explicit rules or guidance as to the length, scope or substance of such disclosures. While the carbon disclosure project and other reporting mechanisms make some attempt to force disclosure related to environmental issues, in particular disclosures around the governance of the adaptation response, there is no robust consolidated approach to financial risk assessment of climate change or governance of approaches to adaptation. While general risk management processes can be adapted to incorporate climate change risks, there are issues that are unique to climate change that make the process much more complex than for many other business risks.
