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Recent sustainability reporting developments

Mar 22, 2016

On March 22, 2016, the Global Reporting Initiative (GRI) released "The Next Era of Corporate Disclosure: Digital, Responsible, Interactive," a digital publication that maps out the future of sustainability reporting and disclosure.

According to GRI, the future will involve new formats with organizations moving from annual reports to sustainability data exchange, while focusing on major challenges such as climate change and human rights. The publication is the culmination of the first year of GRI’s "Sustainability and Reporting 2025" project and provides insights from these discussions.

Review the report on the GRI's website.

Directors’ Alert 2016 Ingredients for Success: Striking the right balance

Feb 04, 2016

Independent board directors join Deloitte specialists from around the globe to share their insights into the challenges facing boards today and the strategies they can employ to overcome those issues.

What should your board have on its plate in 2016?

Directors’ Alert, “Ingredients for Success: Striking the right balance,” highlights some of key challenges facing boards of directors in 2016. Each topic was developed with input from Deloitte specialists and independent directors from around the globe, explores potential actions boards can take to address the issues, and includes questions directors can ask management to further understand the impact these issues have within their own organization.

Review the Directors’ Alert.

CDSB publishes review of environmental reporting by FTSE 350 companies

Feb 04, 2016

On February 4, 2016, the Climate Disclosure Standards Board (CDSB) published a review of the annual reports of FTSE 350 companies, looking at how these companies incorporate environmental issues into their strategic reports.

The publication identifies reporting trends and showcases examples of best practice from published reports. It also sets out the CDSB's views on how regulators can enhance the enabling environment for disclosure. At the launch of the report, Stephen Haddrill, CEO of the Financial Reporting Council (FRC), gave his perspective on the CDSB's findings.

The press release and full report are available from the CDSB website. The full text of Mr Haddrill's speech is available from the FRC website.

Patchwork Regulation Threatens Global Growth and Stability

Feb 03, 2016

On February 3, 2016, the International Federation of Accountants (IFAC) issued a report calling for political leaders and governments around the world to follow ten principles for consistent, high-quality global regulation, to aid global economic growth.

While business and finance are increasingly global, the report warns that important regulation is not. Instead, it is frequently focused on national interests, which can create barriers and impediments to inclusive growth and jeopardize global financial stability.

The ten principles for high quality financial regulation state that regulation needs to be evidence-based, proportionate, appropriately resourced, collaboratively developed/implemented, consistent, subject to active oversight, systematically reviewed, have clear objectives, and be properly targeted and enforced to address intended issues.

Please click to access the report From Crisis to Confidence: A Call for Consistent, High-Quality Global Regulation and a corresponding press release on the IFAC's Web site.

Recent sustainability reporting developments

Jan 21, 2016

On January 21, 2016, the Climate Disclosure Standards Board (CDSB), together with the Carbon Tracker Initiative released a paper designed to assist the global Task Force on Climate-related Financial Disclosures members in assessing the ‘carbon bubble’ concept and ‘stranded asset’ risks inherent in the business-as-usual strategies of many fossil fuel companies.

The Climate Disclosure Standards Board (CDSB), together with the Carbon Tracker Initiative, has launched proposals for risk reporting by fossil fuel companies. The report, Considerations for reporting and disclosure in a carbon-constrained world, looks at the questions of

  • What should resource companies report on climate change and carbon asset stranding risks?
  • Who should set the reporting requirements and how should the information be used?
  • What are the challenges ahead?
  • What are the opportunities?

Please click to access the report on the CDSB Website.

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