An ongoing suggestion amongst policy makers, the accounting profession and ESG advocates is that the International Accounting Standards Board should take over standards setting in the field of environmental reporting and climate disclosure in particular. The Chair of the IASB used a speech last week to re-affirm that the IFRS standards setters will do no […]
The Global Reporting Initiative (GRI) has now published an open letter arguing that Environmental, Social and Governance (ESG) information is now crucial for investors, in response to the speech (above) by IASB Board Chair. In that speech Hans Hoogervorst, pointed out that “greenwashing is rampant” in sustainability reporting. The GRI suggest that this argument misrepresents […]
On Friday 8 March the UK’s Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) hosted the first meeting of the Climate Financial Risk Forum (CFRF). With climate change threatening to create financial risks relevant to these UK regulators’ objectives, the CFRF has been set up to help develop practical tools for addressing climate-related financial […]
The Alliance for Corporate Transparency project has assessed over 100 European companies to analyse how effectively they are disclosing the environmental, social and governance (ESG) impact information required by the EU Non-financial Reporting (NFR) Directive.
On March 20 the Corporate Reporting Dialogue launched a six-week global consultation process to gather views from stakeholders on how to improve the alignment of sustainability frameworks.
As we’ve reported here before, a major setback in the admirable attempts to introduce more robust sustainability disclosure metrics is the existence of multiple competing frameworks. Without easily comparable data the impact of disclosure is highly variable.
The European Parliament and EU member states have reached a political agreement on 7 March on the new rules governing disclosure requirements for sustainability investments. This latest agreement is part of the EU’s Action Plan on Financing Sustainable Growth.
XBRL International has provided a comment letter on the EU’s draft report on climate-related disclosures, urging the EU to help work to make this kind of reporting comparable, digital, discoverable and accessible.
In its response to the SEC regarding the “Concept Release on Business and Financial Disclosure Required by Regulation S-K”, the Sustainability Accounting Standards Board (SASB) pushed the SEC to broaden its use of XBRL. In response to the question as to how the quality of structured disclosures can be enhanced, SASB called for the voluntary XBRL […]
Investors are concerned with sustainability and are eager for hard data to support their investment decisions.
GRI’s Digital Reporting Alliance will seek to address underutilisation of sustainability data by promoting the reporting of that data using XBRL,