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

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IOSCO, FSB comment on progress on ISSB standards

20 Feb, 2023

The International Organization for Securities Commissions (IOSCO) has released a statement welcoming the ISSB’s decision to enter into the finalisation phase of its inaugural corporate sustainability reporting standards. In addition, in a letter to the G20 Finance Ministers and Central Bank Governors, the Financial Stability Board (FSB) calls the finalisation of the ISSB's standards in the first half of this year a 'pivotal goal' in addressing climate-related financial risks.

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We comment on the GSSB’s draft work programme

17 Feb, 2023

We have commented on the draft Global Sustainability Standards Board (GSSB) 'Work Program 2023-2025' and the 'Project Schedule 2023'.

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Deloitte comment letter on the GSSB’s draft work programme

17 Feb, 2023

We have no direct suggestions on the proposed order of prioritisation for reviewing the existing GRI Standards. However, we consider that, as an overall approach, revisions to the GRI Standards should seek to enhance interoperability with those developed and issued by the International Sustainability Standards Board (ISSB) and other significant sustainability standards-setters. We agree that expanding coverage of climate-related matters is important, nevertheless, we also emphasise the increasing importance of social topics to business.

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EFRAG conference "Where is Corporate Reporting heading?" — Report and recordings

16 Feb, 2023

On 7 December 2022, the European Financial Reporting Advisory Group (EFRAG) hosted a conference to debate the new trends in corporate reporting following the Environmental, Social and Governance (ESG) revolution and the connectivity with financial reporting.

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FRC updates its 2021 Statement of Intent on ESG

01 Feb, 2023

The Financial Reporting Council (FRC) has published an update to its Statement of Intent on Environmental, Social and Governance (ESG).

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FRC to host a webinar on ESG

20 Jan, 2023

The Financial Reporting Council (FRC) is hosting a webinar on 31 January which will look at the FRC's Environmental, Social and Governance (ESG) focus.

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Accounting roundup — Closing Out 2022

10 Jan, 2023

Closing Out 2022 discusses the principal corporate reporting issues arising in respect of 31 December 2022 annual reports, covering areas of regulatory focus identified in the Financial Reporting Council’s (FRC's) Annual Review of Corporate Reporting 2021/2022 and issues arising from the current uncertain economic environment.

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IFRS Foundation Trustees hold discussion on sustainability standards

22 Dec, 2022

The IFRS Foundation Trustees have issued insights from a panel discussion held during its quarterly meeting in Seoul, South Korea. The discussion focused on IFRS Sustainability Disclosure Standards and why they are needed.

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Sustainability Standards Advisory Forum membership announced

21 Dec, 2022

The Sustainability Standards Advisory Forum (SSAF) composition has been announced and will include representatives from thirteen jurisdictions and regions. The SSAF goal is to provide the ISSB with technical advice in the development of ISSB’s standard-setting.

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FRC announces thematic review and priority sectors for 2023/24

20 Dec, 2022

The Financial Reporting Council (FRC) has announced its areas of supervisory focus for 2023/24, including high priority sectors, for corporate reporting reviews and audit quality inspections.

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UK government delays process for legislating for the UK Green Taxonomy

16 Dec, 2022

The UK Government has confirmed that it will delay the process for legislating for the UK Green Taxonomy

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CSRD published in the Official Journal of the European Union

16 Dec, 2022

After the European Parliament adopted the Corporate Sustainability Reporting Directive (CSRD) on 10 November 2022 and the Council of the European Union gave the final green light on 28 November 2022, the CSRD has now been published in the Official Journal of the European Union.

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IPSASB takes next step in public sector sustainability reporting

09 Dec, 2022

Building on strong global stakeholder support for the proposals in its consultation paper 'Advancing Public Sector Sustainability Reporting', the International Public Sector Accounting Standards Board (IPSASB) has decided to commence the scoping of three potential public sector specific sustainability reporting projects pending securing the resources needed to begin guidance development.

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GRI consults on revision to its biodiversity standard

08 Dec, 2022

The Global Reporting Initiative (GRI) has published an exposure draft for its revised biodiversity standard 'GRI 304: Biodiversity'.

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Governance in focus — On the board agenda 2023

07 Dec, 2022

As 2022 draws to a close, our annual review of board topics has two objectives – first, to act as a reminder of key matters for the reporting season, and second, to help you set the agenda for the year ahead.

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Council of the European Union adopts CSRD

28 Nov, 2022

After the European Parliament adopted the Corporate Sustainability Reporting Directive (CSRD) on 10 November 2022, the Council of the European Union has now given the final green light.

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Consultation on draft 2023-2025 GSSB work programme

24 Nov, 2022

The Global Sustainability Standards Board (GSSB) has published its draft 2023-2025 work programme and accompanying project schedule for 2023 for public comment.

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EFRAG submits draft ESRS to EC

23 Nov, 2022

The European Financial Reporting Advisory Group (EFRAG) has submitted its draft European Sustainability Reporting Standards (ESRS) to the European Commission (EC).

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Governance in brief — FRC sets out key matters for 2022/23 reporting season

22 Nov, 2022

The Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting setting out key matters for 2022/23 reporting season.

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G20 Leaders support upcoming ISSB Standards

17 Nov, 2022

The G20 has issued final declaration following the G20 Leaders meeting held in Bali on 15–16 November 2022.

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