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Items tagged with "Non-Financial"

ESG Information: Mark up to reduce risk

An article by Romane Maguet and Thomas Verdin, of XBRL Europe, in Revue Banque this week calls for ESEF-style tagging to be extended to non-financial information.

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Accountancy Europe publishes findings from NFI Reporting Paper response

Non-financial (or environmental, social and governance – ESG) reporting is very much on the radar right now, especially in Europe. This week Accountancy Europe added to the debate with a number of new reports, including a follow up to their recent paper, Interconnected Standard Setting for Corporate Reporting. 

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Accountancy Europe calls for NFI Assurance

In recent months momentum for renewed NFI reporting has increased in Europe, with the European Commission (EC) conducting a review into the Non-Financial Reporting Directive (NFRD).

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Single Data Access Point to boost ESG Information

A collection of European financial associations have called on the European commission to establish a common Environmental Social and Governance (ESG) data register and facilitate disclosure to enhance the quality and usability of ESG data.

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ESAs call for mandatory standardised ESG Disclosure in NFRD response

The European Securities and Markets Authority (ESMA), European Insurance and Occupational Pensions Authority (EIOPA), and European Banking Authority (EBA), or ESAs, have provided a joint letter to the European Commission highlighting key messages in their response to the review of the Non-Financial Reporting Directive (NFRD). The ESAs agree that the NFRD needs revising to meet […]

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Addressing Climate Risk Down Under

Adrian Orr, Governor of the Reserve Bank of New Zealand, underlined why the Bank believes mandatory disclosure of climate risk is essential for preserving financial stability at a recent virtual roundtable. Financial stability requires all relevant risks to be adequately identified and priced. Climate change presents a direct and material risk to financial stability – […]

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Proliferation of Frameworks risks ‘sustainability reporting fatigue’

A recent article in the Financial Times neatly pinpoints an underlying problem with sustainability reporting: the proliferation of frameworks that threaten to overwhelm investors and reporters. Companies are increasingly responding to investor demand for more environmental, social and governance (ESG) information, however, with so many competing frameworks – such as the GRI, SASB, TCFD and […]

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IMF advocates for mandatory Climate Risk Disclosure

Floods, hurricanes and wildfires have an undeniable impact on the countries and economies devastated by them – but are the risks of these increasingly common climate-related disasters being properly considered by investors? A recent International Monetary Fund report argues that investors and equity markets have been ignoring the growing risk of financial losses associated with […]

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Green Reporting Headed Digital?

In opening remarks at the Eurofiling ESEF Digital Day yesterday, the European Commission’s Alain Deckers described the work going into the review of Europe’s Non-Financial Reporting Directive (or NFRD) which governs disclosure of ESG reporting. The key issue? The need for a single set of high quality standards. An ongoing issue that is receiving attention […]

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Sustainability reporting and IFRS

There is a compelling case for the IFRS Foundation to help develop globally comparable standards for sustainability reporting – according to a recent speech from IFRS Foundation Trustee Teresa Ko. Ko’s speech, given at the inaugural meeting of the Hong Kong Monetary Authority’s Green and Sustainable Finance Cross-Agency Steering Group, suggested that sustainability reporting is […]

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