Jul 17, 2024
Deloitte's January 2024 survey of 300 executives from publicly owned companies with annual revenues of $500 million or more and additional surveys across various industries reveals significant changes in the global sustainability landscape since December 2022. Key regulatory and standard-setting drivers now include the Corporate Sustainability Reporting Directive (CSRD), European Sustainability Reporting Standards (ESRS), California’s climate laws, International Sustainability Standards Board (ISSB) standards, and the SEC’s climate disclosure rule. These developments necessitate organizations, especially those previously adopting a "wait and see" approach, to accelerate their efforts to comply with new climate-related and broader ESG reporting requirements. Early adopters are already experiencing benefits from a deeper understanding and measurement of ESG risks and impacts.
Jun 27, 2024
This Heads Up discusses possible approaches to performing a double materiality assessment under the E.U. Corporate Sustainability Reporting Directive. Assessing double materiality is a critical step in entities’ determination of the disclosures required for sustainability reporting.
Apr 19, 2024
This article covers insights from the "Chair of the Future" 2024 report by the Deloitte Global Boardroom Program, based on conversations with over 200 board chairs. It discusses how chairs handle climate change, stakeholder interests, and management oversight, emphasizing collective action and strategic relationships across various sectors to drive change.
Apr 08, 2024
This Heads Up examines the SEC’s March 6, 2024, final rule in detail. The final rule requires registrants to provide climate-related disclosures in their annual reports and registration statements, including those for initial public offerings, and is effective beginning with annual reports for the year ending December 31, 2025, for calendar-year-end large accelerated filers. This Heads Up was updated on April 8, 2024, to address the SEC’s stay of the effective date of the final rule pending judicial review.
Feb 26, 2024
This Heads Up, which discusses the E.U. Corporate Sustainability Reporting Directive (CSRD) as well as the recently adopted European Sustainability Reporting Standards (ESRS), has been updated to reflect (1) the revised scope thresholds in the CSRD, which went into effect on December 21, 2023, and (2) updates from the European Financial Reporting Advisory Group regarding the statuses of various sets of ESRS as well as the publication of draft implementation guidance.
Feb 06, 2024
To confront modern slavery and combat human suffering, the Parliament of Canada passed Bill S-211, the Fighting Against Forced Labour and Child Labour in Supply Chains Act. It compels business and government organizations alike to reveal the measures they take to ensure forced and child labour are not present in their operations and supply chains. This article examines one approach businesses can take to adhere to the act and to realize the advantages.
Nov 24, 2023
The report suggests innovative finance instruments to reduce risks and boost investment in developing economies, facilitating a just global energy shift. Key points include the need for $5-7 trillion annual global investment for net-zero emissions by 2050, a potential 40% cost reduction in developing economies (saving $50 trillion) with improved financing, and the necessity for collaborative efforts among governments, investors, and financial institutions to create mechanisms that attract private finance. It also underscores the importance of major policy and regulatory initiatives to strengthen international investment structures.
Oct 26, 2023
This iGAAP in Focus outlines the final recommendations for nature-related risk management and disclosure (Version 1.0) (the recommendations), published by the Taskforce on Nature-related Financial Disclosures (TNFD) in September 2023.
Sep 23, 2023
This iGAAP in Focus outlines the first set of European Sustainability Reporting Standards (ESRS), adopted by the European Commission (EC) on 31 July 2023 in Commission Delegated Regulation supplementing Directive 2013/34/EU of the European Parliament and of the Council as regards sustainability reporting standards.
Sep 20, 2023
Latest insights on the evolving expectations, current pitfalls and questions audit committees should be asking due to the release of new sustainability frameworks and regulations.
Aug 17, 2023
This Heads Up discusses the E.U. Corporate Sustainability Reporting Directive (CSRD) as well as the recently adopted European Sustainability Reporting Standards (ESRS), which provide supplementary guidance for companies within the scope of the CSRD. The adoption of the CSRD, along with the supporting ESRS, is intended to increase the breadth of nonfinancial information reported by companies and to ensure that the information reported is consistent, relevant, comparable, reliable, and easy to access.
Jul 12, 2023
Discussions around environmental, social, and governance (ESG) reporting tend to focus on public companies, but as it turns out, ESG reporting is relevant to private companies, too. Here’s why sustainability concerns may be top of mind for a range of private company stakeholders.
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