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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FSB will work with ISSB and IOSCO to promote wide use of the ISSB standards

13 Jul, 2023

Ahead of their meeting on 17-18 July 2023, a letter of the Chair of the Financial Stability Board (FSB) was submitted to G20 Finance Ministers and Central Bank Governors outlining the work the FSB is undertaking to tackle current financial stability issues.

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Accountancy Europe calls for ESRS to be aligned with ISSB standards before adoption

11 Jul, 2023

Accountancy Europe has commented on the draft delegated regulation regarding sustainability reporting standards released for comment by the European Commission in June 2022. Main points in the response are aligning the European Sustainability Reporting Standards (ESRS) with the ISSB standards before adopting the delegated act and ensuring consistency between ESRS and other EU legislation.

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IFAC warns against regulatory fragmentation, especially on matters of materiality

11 Jul, 2023

As the global voice of the accountancy profession, the International Federation of Accountants (IFAC) has commented on the draft delegated regulation regarding sustainability reporting standards released for comment by the European Commission in June 2022.

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Deloitte comment letter on the on draft delegated regulation with regard to ESRS

10 Jul, 2023

We have commented on the draft delegated regulation supplementing the European Accounting Directive as regards sustainability reporting standards released for comment by the European Commission (EC) in June 2022.

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Deloitte comment letter on the draft delegated regulation with regard to ESRS

10 Jul, 2023

We support the objectives of the European Green Deal and policy and regulation that are designed to enable the flow of high-quality, consistent and comparable sustainability information which is essential to support these objectives. We welcome the steps that the European Commission has already taken to simplify the European Sustainability Reporting Standards (ESRS) requirements by ensuring that all disclosure requirements and data points in topical standards are subject to materiality; making some disclosure requirements voluntary; and improving the understandability of the standards. Our key comments are set out in a cover letter with an appendix some comments, requests for clarification, and suggested edits on the draft ESRS, provided by some of our Deloitte experts. Our comments submitted do not represent an exhaustive set of comments due to the limited amount of time available for review of the draft delegated regulation.

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Educational material on applying IFRSs to climate-related matters updated

04 Jul, 2023

The IFRS Foundation has released an updated version of its publication that shows how existing IFRS requirements require companies to consider climate-related matters when their effect is material to the financial statements.

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IPSASB will develop climate-related disclosures standard

16 Jun, 2023

The International Public Sector Accounting Standards Board (IPSASB) has announced that, in view of the responses to its May 2022 consultation paper on public sector sustainability reporting, it will move ahead with the development of the first sustainability reporting standard for the public sector as respondents had agreed that the public sector urgently needs its own sustainability reporting standards.

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.

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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.

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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'.

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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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