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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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.

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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.

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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.

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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.

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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'.

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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.

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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'.

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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'.

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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.

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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.

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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).

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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.

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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.

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Accounting roundup — January 2024

30 Jan, 2024

This Accounting roundup, covering the period October 2023 through to December 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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IASB and ISSB emphasise connectivity in joint technical meeting

29 Jan, 2024

The IASB and ISSB held their inaugural joint technical meeting in London on 25 January 2024. The meeting centered around feedback on the ISSB’s priorities for the next two years, focusing on potential projects for integrating financial and sustainability reporting. The IFRS Foundation has issued a special joint podcast episode where IASB Vice-Chair Linda Mezon-Hutter and ISSB Vice-Chair Sue Lloyd shared insights into the discussion.

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GRI publishes update to its biodiversity standard

25 Jan, 2024

The Global Reporting Initiative (GRI) has published ‘GRI 101: Biodiversity 2024’ which replaces ‘GRI 304: Biodiversity 2016’. The revised standard is designed to help entities to disclose their most significant impacts on biodiversity and is effective from 1 January 2026.

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EFRAG launches consultation on draft sustainability standards for SMEs

22 Jan, 2024

The European Financial Reporting Advisory Group (EFRAG) has published an exposure draft for a European Sustainability Reporting Standard (ESRS) for listed small- and medium-sized entities (SMEs) (ESRS LSME ED) and an exposure draft for a voluntary reporting standard for non-listed SMEs (VSME ED). Comments are requested by 21 May 2024.

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Need to know — California Climate Legislation

18 Jan, 2024

In October 2023, the California Governor signed into law two state senate bills and one assembly bill. The senate bills collectively require certain public and private US companies doing business in California to provide both quantitative and qualitative climate disclosures. The assembly bill is intended to combat entities’ “greenwashing” of climate-related emission claims. This newsletter explains the content of the bills.

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IFRS Foundation and GRI publish summary of interoperability considerations for GHG emissions

18 Jan, 2024

The Global Reporting Initiative (GRI) and the IFRS Foundation have jointly published an analysis and mapping document titled ‘Interoperability considerations for GHG emissions when applying GRI Standards and ISSB Standards’.

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SSE releases guidance on IFRS sustainability disclosure standards

16 Jan, 2024

The Sustainable Stock Exchanges Initiative (SSE) has launched a free toolkit that has been reviewed by the International Sustainability Standards Board (ISSB) and supports stock exchanges and their market participants in the implementation of the IFRS sustainability disclosure standards.

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