EFRAG insights on reporting sustainability risks and opportunities and linkages to the business model
The European Financial Reporting Advisory Group (EFRAG) Project Task Force on the reporting of non-financial risks and opportunities and linkage to the business model (PTF RNFRO) has published a new report, connecting sustainability concerns with financial performance. Titled ‘Towards Sustainable Businesses: Good Practices in Business Model, Risks and Opportunities Reporting in the EU,’ it aims to help companies benchmark and improve their current reporting practices. Usefully, it is also accompanied by examples in a ‘Supplementary Document: Good Reporting Practices’.
“Our work is intended to influence practice by encouraging preparers to provide a much clearer ‘through-line’ between financial and sustainability information using the business model as the mechanism for achieving that,” noted PTF-RNFRO Co-Chairs Mario Abela and Dawn Slevin.
The main report, drawing on stakeholder feedback, presents the state of play and the drivers of current reporting practices, the role of technological solutions, and a suggested path to improvement in the reporting of sustainability risks and opportunities and their linkage to the business model.
Read more here.