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Items tagged with "ESG"

ESMA on ESG Enforcement Actions

The recent European Securities and Markets Authority (ESMA) annual report on enforcement of corporate disclosure demonstrates the increased attention paid by regulators to Environmental Social and Governance (ESG) disclosures. The report presents the 2019 activities of ESMA and European accounting enforcers when examining the compliance of financial and non-financial statements provided by European issuers. Enforcement […]

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ECB urges Climate Disclosure

Ahead of the UN summit in Glasgow this November, Christine Lagarde, President of the European Central Bank (ECB), recently urged companies and central banks to speed up climate risk assessment and improve environmental disclosures. Speaking at the launch of the finance agenda for the UN climate summit COP26, Lagarde spelled out the serious financial risks […]

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TCFD Support Grows

The Task Force for Climate-related Financial Disclosures (TCFD) recently announced a milestone of reaching more than 1,000 supporters globally – indicating a desire within a wide range of market participants to strengthen climate reporting. Increasingly, firms are accepting that climate risk is financial risk – and investor demand for high quality, comparable, accurate data on […]

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FRC to Assess Climate Reporting

Climate issues seem to be… well… hot. This week the UK’s Financial Reporting Council (FRC) announced a major review of how companies and auditors assess and report on the impact of climate change. The review will assess to what extent existing reporting requirements, including recommendations for companies to report in line with the TCFD framework, are […]

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EU: Expand XBRL Reporting to Include Climate Change Disclosure

On Tuesday, European Commission Executive Vice-President Valdis Dombrovskis gave a speech at a key IFRS conference setting out a broad vision for the future of corporate reporting, incorporating a number of important strands for the XBRL community.

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ESMA Commits to Stronger ESG Regulation

Earlier this month the European Securities and Markets Authority (ESMA) published its Strategy on Sustainable Finance. The strategy sets out how ESMA will place sustainability at the core of its activities by embedding Environmental, Social, and Governance (ESG) considerations into its work.

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FRC Release Climate Reporting Podcast

The UK’s Financial Reporting Council (FRC) has published a podcast discussing their recent report, which offered some practical guidance for best practice on climate-related disclosure. The FRC found that while investors support increased disclosure on climate-related risk, companies are frequently falling behind expectations. The report drew on the TCFD framework to structure practical guidance on […]

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Sustainable Data Alliance launches at WEF

Last week an alliance of leading stakeholders launched the ‘Future of Sustainable Data Alliance’ at the World Economic Forum. Bringing together the World Economic Forum, United Nations, the Climate Bonds Initiative, Tsinghua University, the Bank of Africa, Refitniv, and many others. This global alliance aims to accelerate the allocation of capital into sustainable investments via better […]

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Financial Stability and “Green Swan” Events.

What will be behind the next global financial crisis? According to the Bank for International Settlements (BIS), it could be climate change, which has the potential to unleash ‘extremely financially disruptive events.’ In their words — “integrating climate-related risk analysis into financial stability monitoring is particularly challenging because of the radical uncertainty associated with a […]

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FRC Report highlights Investor Demand for Workforce Disclosure

Investors are increasingly demanding more extensive and clearer reporting on environmental, social and governance (ESG) factors, and while the E of ESG commands the majority of attention, governance should not be overlooked. The UK’s recent Financial Reporting Council report on workforce related corporate reporting identifies areas where companies need to improve in order to reflect […]

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