Only 61 of the audit reports on FTSE 100 audits suggested that the auditors took climate change into account when undertaking their duties. PwC did so in 78% of their audit reports while KPMG did so in 50% of their audit reports.

In only 36 cases did the auditor think climate related issues were worth referring to when reporting their audit opinion. In 34 of these cases the auditors suggested that climate change raised no issue of concern when considering their clients’ accounts.

While references to climate change are commonplace throughout the accounts of FTSE 100 companies the auditors of these companies are much less likely to consider this issue, found research by Sheffield University Management School and Queen Mary, University of London.