The World Economic Forum’s International Business Council (IBC) has added its weight behind the growing momentum for sustainability standards.
Many of today’s corporate reporting habits are hangovers from a bygone era before digital technologies crept into every corner of our lives. As such, we have an opportunity to reimagine reporting from the ground up, taking the transformative impact of technological advances into account.
India’s Ministry of Corporate Affairs (MCA) is considering requiring large unlisted entities to file financial statements more frequently.
Following growing support for global non-financial standards, the International Financial Reporting Standards (IFRS) Foundation has published a consultation paper to formally assess the demand for sustainability standards, and gauge support for the Foundation’s role in developing them.
The Financial Stability Board (FSB) announced that the Global Legal Entity Identifier Foundation (GLEIF), responsible for the LEI, would begin overseeing the unique identifiers used to track over-the-counter (OTC) derivatives this week from 1 October.
With the idea that knowledge is transformative sitting at the heart of most educational institutions, it is perhaps unsurprising that a college is currently at the vanguard of structured municipal reporting in the US.
In order for financial firms to properly take climate change risks and opportunities into account they need comparable, standardised data. Measuring carbon emissions would be a simple, effective and material place to start monitoring the climate impact of the businesses financial firms invest in.
Long-time readers of this newsletter will know that one of the major issues holding sustainability reporting back has been the excessive proliferation of confusing and sometimes overlapping disclosure frameworks.
This year has seen huge changes – from regulatory extensions and shifting deadlines to a wholesale shift in the way we work, Covid-19 has caused serious disruption. But what will regulation look like as the dust settles?
Climate change poses complex risks for financial systems that regulators don’t yet fully understand. In order to properly assess how physical risks and transition risks will interact with each other and other economic vulnerabilities, we need good quality, standardised non-financial data.