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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Transition Plan Taskforce publishes its consultation on private sector transition plans

15 Nov, 2022

At COP27 the UK’s Transition Plan Taskforce (TPT) published its consultation on what private sector companies need to do to implement and disclose a transition plan.

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IFAC publishes a report on climate-related disclosure

15 Nov, 2022

The International Federation of Accountants (IFAC) has published a report providing insight into climate-related disclosure.

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European Parliament adopts CSRD

10 Nov, 2022

The European Parliament has today adopted the Corporate Sustainability Reporting Directive (CSRD) proposed by the European Commission (EC) in April 2021.

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Using sustainability reporting to drive behavioral change

10 Nov, 2022

This publication maps out a potential way forward on using sustainability reporting to drive behavioral change – not just for the adoption of sustainability reporting and organizational transformation, but also to create a broader operating environment conducive to widespread behavior change.

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Corporate Reporting Insights 2022 — Surveying FTSE reporting

08 Nov, 2022

Our latest survey of FTSE annual reports, Corporate Reporting Insights 2022, provides insights into annual reporting trends, focusing on areas where requirements have changed, where regulators are focusing and where innovative practices are emerging.

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IPSASB ED on sustainability reporting implementation guidance

04 Nov, 2022

The International Public Sector Accounting Standards Board (IPSASB) has released an exposure draft (ED) proposing additional guidance on how two previously published Recommended Practice Guidelines (RPGs) can be applied now by governments and public sector entities to report on sustainability program information.

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ESMA announces enforcement priorities for 2022 financial statements

28 Oct, 2022

The European Securities and Markets Authority (ESMA) has announced the priority issues that the assessment of listed companies' 2022 financial statements will focus on. A special focus is on Russia’s invasion of Ukraine and climate-related disclosures.

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FRC publishes findings on the quality of corporate reporting in 2021/2022

28 Oct, 2022

The Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting 2021/2022. The report sets out the FRC’s expectations of areas of corporate reporting that require improvement and highlights the ten most frequently raised topics where improvements to reporting quality are needed.

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FCA launches consultation on Sustainability Disclosure Requirements and investment labels

26 Oct, 2022

The Financial Conduct Authority (FCA) has published Consultation Paper CP/22/20 'Sustainability Disclosure Requirements and investment labels'.

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EFRAG to hold Sustainability Reporting Board Meeting on 20 and 21 October 2022

18 Oct, 2022

The European Financial Reporting Advisory Group (EFRAG) has announced that it will hold its Sustainability Reporting Board webcast meetings on 20 and 21 October 2022.

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FSB calls for continued progress on disclosures on climate-related risks

17 Oct, 2022

The Financial Stability Board (FSB) has submitted to the G20 Finance Ministers and Central Bank Governors two reports as part of its work on addressing climate-related financial risks.

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New TCFD status report

17 Oct, 2022

The Task Force on Climate-related Financial Disclosures (TCFD) set up by the Financial Stability Board (FSB) to develop voluntary, consistent climate-related financial risk disclosures for use by companies in providing information to lenders, insurers, investors and other stakeholders has published a fifth status report providing an overview of the extent to which companies in their 2021 reports included information aligned with the core TCFD recommendations published in June 2017.

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Need to know — European sustainability reporting: Worldwide reach of the Corporate Sustainability Reporting Directive

14 Oct, 2022

This Need to know outlines the near final text for the Corporate Sustainability Reporting Directive (CSRD) that has been published following the provisional political agreement reached in June 2022.

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FRC Lab calls for participants for the second phase of its project on ESG Data

14 Oct, 2022

The Financial Reporting Council’s (FRC’s) Financial Reporting Lab (the Lab) is inviting data aggregators and providers, Fintech and RegTech firms, rating agencies, investors, other users of ESG data, and other interested parties to participate in the next phase of its project looking at how companies produce Environmental Social and Governance (ESG) data.

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G7 issues statement on climate disclosures and ISSB’s work

14 Oct, 2022

The G7 Finance Ministers and Central Bank Governors have released a statement underlining economic climate actions and its commitment ‘to move towards mandatory climate-related financial disclosures that provide consistent and decision-useful information for market participants and [it welcomes] the global baseline of sustainability reporting standards currently under development by the International Sustainability Standards Board (ISSB)’.

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FRC Lab publishes report on net zero disclosures

13 Oct, 2022

The Financial Reporting Council (FRC) has published a Lab report on net zero disclosures which is an investor focus area with many companies estimating impact and disclosing climate commitments and transition plans.

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Standard setters discuss jurisdictional perspectives on sustainability reporting

28 Sep, 2022

The International Forum of Accounting Standard Setters (IFASS) is currently holding its fall meeting in London. The whole morning today was devoted to the discussion of sustainability reporting.

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IOSCO welcomes work on assurance of sustainability-related corporate reporting

16 Sep, 2022

The International Organization of Securities Commissions (IOSCO) welcomes the work of the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) on assurance of sustainability-related corporate reporting.

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Governance in brief — FCA and FRC publish findings on climate change disclosure — improvements required

06 Sep, 2022

At the end of July, the Financial Conduct Authority (FCA) and Financial Reporting Council (FRC) published the findings of their first joined up, and mutually complementary, reviews of mandatory climate reporting under the new Listing Rule requirements. The FCA sets out its expectations for compliant reporting, underpinned by the need to establish and embed adequate climate reporting procedures, systems and controls at companies. It outlines the findings from its review and highlights that it is considering whether to take regulatory action against certain listed entities for inadequate reporting. The FCA also reiterates support for the forthcoming International Sustainability Standards Board (ISSB) standards and the intention to move away from ‘comply or explain’ to mandatory disclosure alongside the adoption of those standards in the UK. The FRC’s complementary report evaluated both the quality of Task Force on Climate-related Financial Disclosures (TCFD) and the extent of climate-related disclosures within the financial statements. It provides examples of better practice disclosures which both the FRC and the FCA encourage companies to refer to when preparing or seeking to improve their own disclosures.

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FRC Lab publishes report on ESG data production

01 Sep, 2022

The Financial Reporting Council (FRC) has published a Lab report on ESG data production

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