Other sustainability reporting developments

This page provides a collection of resources on other sustainability reporting developments including the publication, in June 2017, of the Task Force on Climate-related Financial Disclosures (TCFD's), final recommendations for effective disclosure of climate-related financial risks.  Over 100 CEO's of large, multi-national organisations have publicly stated their support for the TCFD's initiative and urged other companies to support better disclosures of climate-related risks and opportunities.

Related resources

Need to know — SEC adopts rule that requires climate-related disclosures

20 Mar, 2024

In March 2024, the SEC adopted a final rule that requires registrants to provide climate-related disclosures in their annual reports and registration statements. This newsletter explains the contents of the rule.

Basel Committee urged to back ISSB standards

19 Mar, 2024

UK Finance, representing over 300 firms from the banking and finance industry, has used its response to Basel Committee’s climate risk Pillar 3 proposals to urge the Committee to back the ISSB standards to drive global consistency and comparability across all sectors in all jurisdictions to support the transition to a decarbonised economy.

GHG Protocol releases draft summaries of Scope 3 Standard feedback

15 Mar, 2024

The Greenhouse Gas (GHG) Protocol secretariat has released a draft summary report providing a detailed overview of stakeholder feedback from a survey it conducted on its Scope 3 Standard. In addition, the secretariat has released a proposal summary giving an overview of proposal submissions related to the Scope 3 Standard.

C&S annual report reveals increase in sustainability policies

12 Mar, 2024

Carrots & Sticks (C&S) has published the 2023 edition of its annual report, which presents a comprehensive assessment of environmental, social and governance (ESG) and sustainability policy worldwide. The report highlights the expanding nature of ESG and sustainability policies since 2020.

SEC adopts rule that will require entities to disclose climate-related information

06 Mar, 2024

In a public meeting held today, the US Securities and Exchange Commission (SEC) has voted to adopt a rule titled 'The Enhancement and Standardization of Climate-Related Disclosures for Investors'.

Deloitte comment letter on GRI Topic Standard Project for Climate Change — 'Climate Change' and 'Energy' exposure drafts

05 Mar, 2024

Deloitte Touche Tohmatsu Limited welcomes the opportunity to respond to the 'Climate Change' and 'Energy' exposure drafts (EDs) issued by the Global Reporting Initiative’s (GRI) Global Sustainability Standards Board (GSSB). There is increasing focus by stakeholders on the actions being taken by entities to support commitments made to address climate change. We agree, therefore, that the matters addressed in the EDs should be reflected in the GRI Standards.

EFRAG publishes second set of technical explanations on ESRSs

01 Mar, 2024

EFRAG (formerly European Financial Reporting Advisory Group) has published the second set of technical explanations to assist stakeholders in the implementation of the European Sustainability Reporting Standards (ESRSs).

IFRS Foundation Chair delivers keynote on global financial standards and sustainability reporting

29 Feb, 2024

Erkki Liikanen, Chair of the IFRS Foundation Trustees, addressed attendees at the IFRS Foundation Trustees’ stakeholder dinner in Madrid, Spain, on 28 February 2024. Chair Liikanen highlighted the Foundation’s role in global governance, strategy, and oversight of standard-setting boards. He emphasised the significance of the IFRS Foundation’s collaboration, with trustees representing diverse expertise from around the world and underscored the Foundation’s commitment to transparency, with all meetings held publicly and documents accessible online.

SEC announces public meeting to consider rules on climate-related disclosures

29 Feb, 2024

The US Securities and Exchange Commission (SEC) has announced that it will hold an open meeting on 6 March 2024 at 9.45am Eastern Time. In the meeting, the SEC will consider whether to adopt rules to require registrants to provide certain climate-related information in their registration statements and annual reports.

IOSCO Chair speaks on adoption of the ISSB standards

27 Feb, 2024

In a speech at the IFRS Sustainability Symposium on 22 February 2024, Jean-Paul Servais, Chair of the International Organization of Securities Commissions (IOSCO), highlighted the role of jurisdictions in the adoption of the ISSB standards.

IFAC and AICPA & CIMA study observes more detail in sustainability reporting

23 Feb, 2024

The International Federation of Accountants (IFAC), together with AICPA & CIMA, has published an update to its study on the sustainability reporting and assurance practices of the largest global companies. The study reveals that there is now more detail and breadth in these companies' sustainability reporting.

VBA and IFVI publish conceptual framework for impact accounting

23 Feb, 2024

The Value Balancing Alliance (VBA), together with the International Foundation for Valuing Impacts (IFVI), has published 'General Methodology 1: Conceptual Framework for Impact Accounting'.

Guide for the adoption or other use of ISSB standards

22 Feb, 2024

The International Sustainability Standards Board (ISSB) has released a preview version of a guide that is intended to support jurisdictions on their journey to adopt the ISSB standards. At the same time, the ISSB has published a summary of ongoing and completed jurisdictional consultations.

GRI concludes series 2 of its SDGs podcasts with an episode on sustainability reporting

16 Feb, 2024

The Global Reporting Initiative (GRI) has concluded series 2 of its 'The SDG Insider' podcast, which endeavours to bridge the gap between corporate reporting and the UN Sustainable Development Goals (SDGs). The final episode in the series is titled 'Navigating sustainability reporting in the age of regulatory revolution'.

VBA and IFVI publish methodology exposure drafts for valuing social and environmental impacts

15 Feb, 2024

The Value Balancing Alliance (VBA), together with the International Foundation for Valuing Impacts (IFVI), has published exposure drafts 'Environmental Methodology 1 — Greenhouse Gas Emissions — Topic Methodology' and 'Social Methodology 1 — Adequate Wages'.

EU Council and Parliament agree to delay sustainability reporting standards for sectors and third-country entities

09 Feb, 2024

The Council of the European Union (EU) has announced that it agreed with the Parliament to delay the adoption of sustainability reporting standards for certain sectors and for third-country entities by two years.

EFRAG publishes consultation on sustainability reporting XBRL taxonomies

09 Feb, 2024

The European Financial Reporting Advisory Group (EFRAG) has launched a consultation on 'Draft ESRS Set 1 XBRL Taxonomy' and 'Draft Article 8 XBRL Taxonomy'. Comments on the consultation documents are requested by 8 April 2024.

EFRAG publishes first set of technical explanations on ESRSs

06 Feb, 2024

The European Financial Reporting Advisory Group (EFRAG) has published the first set of technical explanations to assist stakeholders in the implementation of the European Sustainability Reporting Standards (ESRSs).

GRI publishes sustainability standard for the mining sector

06 Feb, 2024

The Global Reporting Initiative (GRI) has published a new sustainability standard titled 'GRI 14: Mining Sector 2024'. The new standard provides a consistent set of metrics to be used in reporting the impacts of mining entities.

Stay Tuned Online — January 2024

31 Jan, 2024

Stay Tuned Online is an online corporate reporting update, aimed at helping finance teams keep up to speed with narrative, governance and financial reporting issues. Each update lasts about an hour.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.