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 — European Commission consults on delegated regulation for European Sustainability Reporting Standards Image

Need to know — European Commission consults on delegated regulation for European Sustainability Reporting Standards

15 Jun, 2023

This Need to know outlines the consultation launched by the European Commission (EC) on 9 June 2023 on the draft delegated regulation that amends the Accounting Directive (Directive 2013/34/EU of the European Parliament and of the Council) for sustainability reporting standards.

Need to know — The UK climate-related financial disclosire regulations Image

Need to know — The UK climate-related financial disclosure regulations

15 Jun, 2023

This Need to know discusses regulations approved by the UK government in January 2022, which introduced climate-related financial disclosure requirements for certain UK companies and Limited Liability Partnerships (LLPs), and the related guidance issued by the government in February 2022.

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European Commission consults on draft delegated regulation with regard to ESRS

09 Jun, 2023

The European Commission has launched a consultation on a draft delegated regulation supplementing the European Accounting Directive as regards sustainability reporting standards.

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FRC and DBT seek applicants for Chair and members of the UK Sustainability Disclosure Technical Advisory Committee

08 Jun, 2023

The Financial Reporting Council (FRC) and the Department for Business and Trade (DBT) are seeking applications for the Chair position and members of the UK Sustainability Disclosure Technical Advisory Committee (TAC).

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World Economic Forum forms group to support adoption of International Sustainability Standards

06 Jun, 2023

The World Economic Forum (WEF) has announced the establishment of a Forum ISSB Preparers Group, comprising corporate leaders with expertise in sustainability reporting. The group aims to provide insights and practical examples to the ISSB following the release of its first sustainability standards later this month.

Deloitte comment letter on TNFD Beta Framework Image

Deloitte comment letter on TNFD Beta Framework

02 Jun, 2023

We have commented on the Taskforce on Nature-related Financial Disclosures (TNFD) – Feedback on v0.4 of the TNFD Beta Framework.

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IFAC releases new placemat to guide audit committees to oversee sustainability-related disclosure

02 Jun, 2023

The International Federation of Accountants (IFAC) has released a placemat ‘Key Questions for Audit Committees Overseeing Sustainability-Related Disclosure’ to guide audit committees to oversee sustainability-related disclosure.

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New guidance published on GHG reporting

01 Jun, 2023

The International Federation of Accountants (IFAC) and We Mean Business Coalition (WMBC), in partnership with Accounting for Sustainability (A4S), Global Accounting Alliance (GAA) and World Business Council for Sustainable Development (WBCSD) have released guidance to help professional accountants and finance professionals deliver robust greenhouse gas (GHG) reporting.

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G7 underlines commitment to global sustainability disclosures

22 May, 2023

Following the G7 Leaders' Summit 2023, a joint declaration has been published that stresses the need for globally interoperable sustainability disclosure frameworks.

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Educational material on applying the IFRS for SMEs to climate-related matters

16 May, 2023

The IFRS Foundation has released a publication that shows how existing requirements in the IFRS for SMEs require companies to consider climate-related matters when their effect is material to the financial statements.

Need to know — UK government publishes Green Finance Strategy – Mobilising green investment Image

Need to know — UK government publishes Green Finance Strategy – Mobilising green investment

16 May, 2023

This Need to know discusses the UK government’s Green Finance Strategy - Mobilising green investment, published in March 2023.

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IPSASB guidance on sustainability programme information

10 May, 2023

In light of the urgent need for sustainability reporting guidance for the public sector, the International Public Sector Accounting Standards Board (IPSASB) has issued 'Reporting Sustainability Program Information — Amendments to RPGs 1 and 3: Additional Non-Authoritative Guidance'.

Accounting roundup — April 2023 Image

Accounting roundup — April 2023

28 Apr, 2023

This Accounting roundup, covering the period January 2023 through to March 2023, pulls together the headlines for all the latest developments in accounting, providing links to a wealth of further information and resources.

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Interoperability, proportionality, flexibility

27 Apr, 2023

The International Organization for Securities Commissions (IOSCO) has released the transcript of a key note address given by Jean-Paul Servais, Chair of the IOSCO Board, at the Eurofi 2023 Conference in Stockholm.

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Standard setters discuss connectivity

19 Apr, 2023

The International Forum of Accounting Standard Setters (IFASS) is currently holding its spring meeting in Norwalk, Connecticut. The meeting was started with a first discussion of connectivity between financial reporting and sustainability reporting.

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Finance for the Future Awards 2023 open for entries

11 Apr, 2023

Finance for the Future is a partnership between the Institute of Chartered Accountants in England and Wales (ICAEW), A4S and Deloitte and was founded in 2012. The awards are recognised globally, with past finalists in over 30 countries. The key ambition is to share best practice, drive awareness, inspire action and develop a community of finance leaders committed to tackling significant social and environmental issues.

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UK government publishes 2023 Green Finance Strategy

03 Apr, 2023

The UK government has published a new policy paper, Green Finance Strategy - Mobilising Green Investment (“the 2023 Strategy”), building on the previous Green Finance Strategy which was published in July 2019. The 2023 Strategy sets out the government’s updated plans for the UK to become the world’s first net zero-aligned financial centre, including five key objectives addressing UK financial services growth and competitiveness, investment in the green economy, financial stability, incorporation of nature and adaptation and alignment of financial flows with climate and nature objectives.

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TPR review into pension scheme climate reports finds areas for improvement and some good practice

29 Mar, 2023

The Pensions Regulator (TPR) has conducted a review of the first set of climate-related disclosures produced by occupational pension schemes under new regulations which came into effect on 1 October 2021 aimed at imprving governance and reportng of climate-related risks and opportunities.

Deloitte response to the survey on the need for GHG protocol corporate standards and guidance updates Image

Deloitte response to the survey on the need for GHG protocol corporate standards and guidance updates

22 Mar, 2023

In our response, we emphasise aspects of the GHGP for which we believe there is a need for greater consistency. In particular, we recommend that that the Corporate Standard should use terminology from widely-adopted financial reporting standards – notably IFRS Accounting Standards and U.S. GAAP, to the extent possible. We believe this is particularly important to promote connectivity of GHG emissions disclosures with financial reporting.

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EC tells EFRAG to concentrate on the implementation of Set 1 of the ESRS

22 Mar, 2023

On 22 November 2022, the European Financial Reporting Advisory Group (EFRAG) submitted its first set of draft European Sustainability Reporting Standards (ESRS) to the European Commission (EC) and began working on Set 2 of the ESRS, which would contain sector-specific standards. EFRAG has now been told to concentrate on providing additional guidance on how to apply the proposed standards in Set 1.

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