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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We comment on DESNZ call for evidence on Scope 3 Emissions

11 Jan, 2024

We have published our comment letter on the call for evidence on Scope 3 Emissions in the UK Reporting Landscape issued by the Department for Energy Security and Net Zero (DESNZ).

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Deloitte comment letter on DESNZ call for evidence on Scope 3 Emissions

11 Jan, 2024

We have published our comment letter on the call for evidence on Scope 3 Emissions in the UK Reporting Landscape issued by the Department for Energy Security and Net Zero (DESNZ).

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IFAC releases literature review to support sustainability reporting

10 Jan, 2024

The International Federation of Accountants (IFAC) published a literature review titled ‘Educating Accountants for a Sustainable Future: A Literature Review of Competencies, Educational Strategies, and Challenges for Sustainability Reporting and Assurance’ that provides insights on how stakeholder demands for relevant and reliable sustainability reporting can be met.

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First set of ESRSs published in the Official Journal of the European Union

22 Dec, 2023

After the European Parliament adopted the first set of European Sustainability Reporting Standards (ESRSs) on 18 October 2023 and the Council of the European Union gave the final green light, the first set of ESRSs has now been published in the Official Journal of the European Union.

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EFRAG proposes implementation guidance for ESRS

22 Dec, 2023

The European Financial Reporting Advisory Group (EFRAG) has published three draft documents that propose implementation guidance for the European Sustainability Reporting Standards (ESRS). The comment period for the draft implementation guidance ends on 2 February 2024.

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Governance in focus — On the board agenda 2024

22 Dec, 2023

In the current environment, boards continue to be faced with challenges across all aspects of their remit making effective decision making ever more difficult as different stakeholders pull focus in different directions. Many companies are grappling with forecasting demand and pricing, supply chain disruption, other input cost pressures and challenges in attracting and retaining talent. At the same time boards, have to work hard to keep pace with developments in technology in order to remain ahead of both the opportunities and threats posed by innovations such as Generative AI.

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HM Treasury publishes exposure draft of phase 2 of its TCFD-aligned disclosure application guidance

22 Dec, 2023

HM Treasury has published an exposure draft of phase 2 of its guidance on applying the Task Force on Climate-related Financial Disclosure (TCFD) recommendations in central government and, where appropriate, the wider public sector.

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EC adopts FAQs on environmental performance reporting under the EU taxonomy

21 Dec, 2023

The EU Commission (EC) has published a frequently asked questions (FAQ) document to assist financial entities with their reporting about environmental performance of activities under the EU taxonomy.

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EFRAG and TNFD sign cooperation agreement

21 Dec, 2023

The European Financial Reporting Advisory Group (EFRAG) and the Taskforce on Nature-related Financial Disclosures (TNFD) have signed a cooperation agreement to further advance nature-related reporting.

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IFAC analysis highlights the need for integrated internal control to enhance the quality of sustainability reporting

19 Dec, 2023

The International Federation of Accountants (IFAC) has published analysis which calls for companies to establish an integrated internal control environment in order to enhance the quality of their sustainability reporting.

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ESMA draft guidelines for supervision of sustainability information

15 Dec, 2023

The European Securities and Markets Authority (ESMA) has published draft guidelines on enforcement of sustainability information. The comment period for the draft guidelines ends on 15 March 2024.

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Task Force on Climate-Related Financial Disclosures disbanded

15 Dec, 2023

The Task Force on Climate-related Financial Disclosures (TCFD) has now disbanded.

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FRC announces areas of supervisory focus for 2024/25

08 Dec, 2023

The Financial Reporting Council (FRC) has announced its areas of supervisory focus for 2024/25, including priority sectors, for corporate reporting reviews and audit quality inspections.

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Accountancy Europe and EFRAG webinar on supporting ESRS implementation

08 Dec, 2023

On 12 December 2023, Accountancy Europe and EFRAG will organise a 2-hour joint webinar titled "Supporting high-quality ESRS implementation".

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Research into the role of the CFO and finance function in the climate transition

06 Dec, 2023

New research has been published which considers the role of finance in the transition to a lower-emission world.

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Declaration of support to advance the adoption or use of the ISSB’s climate-related reporting

04 Dec, 2023

Almost 400 organisations from 64 jurisdictions have signed a declaration of support to advance the adoption or use of the climate-related reporting of the International Sustainability Standards Board (ISSB) at a global level. The declaration from companies, investors, stock exchanges, the accountancy profession, multilaterals, non-governmental organisations, universities, data analytics providers, corporate advisors and others was announced at COP28, currently taking place in Dubai, United Arab Emirates.

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IFRS Foundation and ISO commit to future cooperation towards effective communication about sustainability-related risks and opportunities

04 Dec, 2023

The IFRS Foundation and the International Organization for Standardization (ISO) have confirmed their shared commitment to cooperate to support efficient and resilient global economies at COP28, currently held in Dubai, United Arab Emirates. Both organisations recognise that working together in areas of common interest is in the public interest.

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Erkki Liikanen speaks on progress and priorities to advance global sustainability disclosures

04 Dec, 2023

The Chair of the IFRS Foundation Trustees, Erkki Liikanen, held a speech at COP28, currently held in Dubai, United Arab Emirates, to reflect on the progress that has been made since the IFRS Foundation announced the decision to establish the International Sustainability Standards Board (ISSB) at COP26.

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IFRS Foundation launches knowledge hub to support the implementation of IFRS S1 and IFRS S2

01 Dec, 2023

The IFRS Foundation has launched the IFRS Sustainability Knowledge Hub to support the implementation of IFRS S1 ‘General Requirements for Disclosure of Sustainability-related Financial Information’ and IFRS S2 ‘Climate-related Disclosures’. The hub is a tool in the capacity building programme for the new standards before they become effective for annual periods beginning on or after 1 January 2024.

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FCA confirms Sustainability Disclosure Requirements (SDR) and investment labelling regime

01 Dec, 2023

The Financial Conduct Authority (FCA) has published Policy Statement (PS) 23/16 ‘Sustainability Disclosure Requirements (SDR) and investment labels’ which contains the FCA’s final rules and guidance to improve trust and transparency to the market for sustainable investment products.

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