Climate Accounting as a Competitive Edge
What’s the state of climate accounting in Norwegian companies? What obstacles do they encounter, and what competitive advantages exist?
Climate accounting is becoming a central part of corporate strategy, with assessments of environmental and social financial risk into integrated reporting (Gleeson-White, 2015). Since 2020, we have seen an increasing proportion of investors both expect and demand such standardized ESG from companies. But it is only when a company has compiled climate accounts over several years that it can analyze relevant, i.e., both risk-reducing and opportunity-creating measures to achieve a climate goal.