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ACCG8142 - Session 2, 2022

Strategic Business Reporting

Individual Assignment

Non-financial Reporting Disclosures

The business community and financial regulators are concerned that non-current assets and liabilities may be mispriced because the likely economic effects of climate risk are not being included by companies in their measurement of fair values. Mispriced financial elements lead to inefficient allocation of investment and debt capital and threaten the long-term viability of the companies.

Demand from stakeholders for meaningful and accurate climate-related financial information has grown, including from investors, equity holders, lenders, underwriters and the wider public.

The Financial Stability Board (FSB) (see more about the FSB here) established a Taskforce on Climate- related Financial Disclosures (TCFD) in 2015. The TCFD was tasked with developing a reporting framework that would enable companies to be transparent about their climate-related risk exposures. In 2017, the TCFD released the climate-related financial disclosure recommendations to help companies provide consistent and comparable disclosures to their investors and lenders. Since then, these recommendations have been supported by more than 3,500 companies and organisations in 95 jurisdictions around the world. For more information about the TCFD and its recommendations see the links below:

www.fsb.org/2017/06/recommendations-of-the-task-force-on-climate-related-financial-disclosures-2/ https://assets.bbhub.io/company/sites/60/2022/03/GPP_TCFD_Status_Report_2021_Book_v17.pdf

https://www.accaglobal.com/an/en/technical-activities/technical-resources-search/2017/february/recommendations-

of-the-task-force-on-climate-related-financial-disclosures.html https://www.accaglobal.com/an/en/member/discover/cpd-articles/business-management/lowcarbon-economy.html

https://www.accaglobal.com/an/en/technical-activities/technical-resources-search/2019/january/report-on-climate-

related-disclosures.html

https://www.accaglobal.com/my/en/student/exam-support-resources/professional-exams-study-resources/strategic-

business-reporting/technical-articles/climate.html

Required:

Select a company from the list of companies in Appendix 1. All the companies in the list currently implement the TCFD framework. Please note that you will need approval from the Unit Convenor if you wish to choose a company that is not on the list.

Analyse the latest annual and sustainability reports for the company selected to identify the specific climate- related risks and opportunities to which that company is exposed.

Based on your analysis, you will need to write a 2,500-word report addressing the following:

1. An explanation of what is climate-related financial risk. [ 5 Marks]

2. Discussion on the financial elements generally at risk of misstated value in the industry sector of the company that you selected. [ 10 Marks]

3. Analysis and discussion of the potential financial effects on the company selected. You will need to address the impacts on revenues, the values of assets and liabilities, and its access to capital in the short (3 years) and medium (10 years) terms. State your assumptions. [ 15 Marks]

4. Discussion on the level of compliance of the company selected, with the recommendations of the TCFD regarding climate-related disclosures. [ 10 Marks]

Assessment of report

The research-based report represents 25% of your total mark for ACCG8142 and is compulsory. Your assignment will be marked out of 50 and will then be converted to a mark out of 25. Out of the total 50 marks, 40 marks are awarded for content (as shown above) and 10 marks will be awarded for structure, written expression and referencing. Please see rubric on page 5

Report submission instructions

Where to

submit

The written report must be submitted in electronic form using Turnitin (through iLearn via the ‘Research Assignment’ section folder).

A hardcopy submission is not required.

When to

submit

Due: Friday 9 September 2022, 11.55 pm

No extensions will be granted. Unless an application for Special Consideration has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.

How

The W .

The filename of your report must be as follows:

ACCG8142_XXXXXXXX (where the crosses represent your eight- digit SID)

Length

Total word count limit = 2,500 words (not including references) A variance inthe wordcount of ± 10% is allowed.

Referencing

In text referencing is required for all sources used and a complete list of references must be provided using the American Psychological Association (APA) Style 7th edition.