The Climate Disclosure Standards Board issues a proposed framework that would align corporate reporting of climate change with principles and objectives of financial reporting rules.

At the recent World Business Summit on Climate Change in Copenhagen, the Climate Disclosure Standards Board (CDSB) issued a proposed framework for standardized corporate reporting of climate change information.

The exposure draft of the framework, entitled The Climate Disclosure Standards Board (CDSB) Reporting Framework, seeks comments by September 25 from business, investors, the accounting profession, and regulatory agencies, so that the findings can be updated in advance of the United Nations Climate Change Conference (COP15). The Conference will be held in Copenhagen in December 2009.

The proposed framework uses the Corporate Accounting and Reporting Standard developed by the Greenhouse Gas Protocol (GHG Protocol) as its basic emissions reporting standard. The GHG Protocol is an international accounting tool used by government and business to quantify and manage GHG emissions.

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