2022

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New TCFD status report

Oct 17, 2022

The Task Force on Climate-related Financial Disclosures (TCFD) set up by the Financial Stability Board (FSB) to develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders published a fifth status report providing an overview of the extent to which companies in their 2021 reports included information aligned with the core TCFD recommendations published in June 2017.

The TCFD found that:

  • The percent of companies disclosing TCFD-aligned information continues to grow, but more urgent progress is needed.
  • All regions have significantly increased their levels of disclosure over the past three years.
  • A majority of asset managers and asset owners report to their clients and beneficiaries.
  • Nearly 50% of asset managers and 75% of asset owners reported information aligned with at least five of the 11 recommended disclosures.
  • The percent of companies disclosing the TCFD recommendations in financial filings or annual reports has increased each year.
  • The availability and quality of climate-related financial disclosures has increased since June 2017.
  • Investors and others use disclosures in decision-making and pricing.

Review the press release and full report on the FSB's website.

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Recordings of the webinar on the feedback request on a future IFRS sustainability disclosure taxonomy for digital reporting

Sep 19, 2022

On September 12, 2022, the staff of the International Sustainability Standards Board (ISSB) offered a webinar explaining the request for feedback that would inform the development of a taxonomy to enable digital consumption of sustainability disclosures prepared using the ISSB's IFRS Sustainability Disclosure Standards.

For the convenience of stakeholders in different time zones, there were two sessions of the webinar. Both of them have been recorded and the recordings are now available on YouTube:

IESBA (International Ethics Standards Board for Accountants) (lt gray) Image

The IESBA releases update on sustainability work

Dec 19, 2022

On December 19, 2022, the International Ethics Standards Board for Accountants (IESBA) released "Continuing with the Development of Global Ethics and Independence Standards for Sustainability Reporting and Assurance," a publication providing an overview of the sustainability-related decisions made by the Board at it's recent meeting and how those decisions will shape the Board's work in 2023 and beyond.

On December 2, 2022, the Board unanimously approved two new projects that will deliver the following:

Sustainability Project

  • Profession-agnostic independence standards for use by all sustainability assurance practitioners
  • Specific ethics provisions relevant to sustainability reporting and assurance 

Experts Project

  • Specific ethics and independence provisions addressing the use of experts by organizations as well as in the context of audit and assurance engagements (including sustainability assurance)

Review the press release and publication on the IESBA's website.

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Webinar on the feedback request on a future IFRS sustainability disclosure taxonomy for digital reporting

Sep 01, 2022

On September 1, 2022, the staff of the International Sustainability Standards Board (ISSB) announced that it is holding two live webinars on the Staff Request for Feedback on the IFRS Sustainability Disclosure Taxonomy to inform the development of an IFRS Sustainability Disclosure Taxonomy for digital reporting.

The webinar explains in more detail the request, which is out for comment until September 30, 2022.

For the convenience of stakeholders in different time zones, there will be two sessions of the webinar on September 12, 2022, at 09:00 BST and at 17:00 BST.

Review the press release on the IFRS Foundation's website.

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