Climate change is one of the biggest issues the world is facing today. Investors need to improve understanding and analysis of climate-related risks and opportunities and their financial implications on organizations. There is therefore an increasing demand from investors and creditors to access climate-related financial information that is consistent, comparable, reliable and verifiable. Based on an academic literature review on climate change disclosure and a critical analysis of existing normalization initiatives on climate-related issues, the objective of this paper is to carry out some reflections and recommendations on a common mandatory highquality climate change financial reporting framework.