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

Leaf - sustainability (green) Image

Transition plan Taskforce publishes its finalised Disclosure Framework and supporting guidance

11 Oct, 2023

The Transition Plan Taskforce (TPT) was established by the UK government in April 2022 with a two-year mandate to develop the ‘gold standard’ for climate transition plans. On 9 October, the TPT published its finalised sector neutral Disclosure Framework and supporting guidance.

Document (green) Image

California adopts legislation requiring climate disclosures

11 Oct, 2023

On 7 October 2023, the California Governor signed into law two state senate bills that collectively require certain public and private US companies doing business in California to provide both quantitative and qualitative climate disclosures.

FRC Image

FRC publishes findings on the quality of corporate reporting in 2022/2023

07 Oct, 2023

The Financial Reporting Council (FRC) has published its Annual Review of Corporate Reporting 2022/2023. The report sets out the FRC’s expectations for areas of corporate reporting that require improvement and highlights the ten most frequently raised topics where improvements to reporting quality are needed. The findings follow a review of 263 annual reports and accounts with weighting in favour of the FTSE 350. 

IFAC (International Federation of Accountants) (lt gray) Image

IFAC publishes study that expands insights into sustainability disclosure and assurance beyond the G20

26 Sep, 2023

The International Federation of Accountants (IFAC) has published a new study that expands its sustainability disclosure and assurance data to 20 additional jurisdictions beyond the G20 previously reported on.

IASB (International Accounting Standards Board) (blue) Image

IASB to move forward with project on climate-related risks

21 Sep, 2023

During its current meeting held in London, the IASB decided to explore ways to improve reporting of climate-related and other uncertainties in the financial statements.

Document (green) Image

TNFD recommendations on nature-related issues published

19 Sep, 2023

The Taskforce on Nature-related Financial Disclosures (TNFD), a global market-led initiative which aims to provide financial institutions and corporates with a complete picture of their environmental risks and opportunities, has delivered its framework for organisations to report and act on evolving nature-related risks.

Event (2014) (green) Image

Climate Week NYC will see launch of TNFD framework, discussion of ISSB standards

18 Sep, 2023

From 17 to 24 September 2023, Climate Week NYC will bring together policymakers, climate activists, civil society representatives, individuals, and CEOs from all over the world, for the largest annual climate event of its kind.

IOSCO (International Organization of Securities Commissions) (dark gray) Image

IOSCO will roll out extensive capacity-building programme on sustainability reporting

14 Sep, 2023

The International Organization for Securities Commissions (IOSCO) has released the transcript of a key note address given by Jean-Paul Servais, Chair of the IOSCO Board, at the Eurofi 2023 Financial Forum in Santiago de Compostela.

Governance in focus -- On the board agenda 2023: Autumn regulatory update Image

Governance in focus — On the board agenda 2023: Autumn regulatory update

13 Sep, 2023

This autumn, macro topics once again dominate, with boards focusing on forecasting demand and pricing, supply chain disruption, other input cost pressures and challenges in attracting and retaining talent. On top of these areas, there continue to be many moving parts in the governance landscape and reform agenda, and so this Autumn Regulatory Update is designed to meet two objectives: - provide a status update on the regulatory landscape boards need to navigate, and - help you set the agenda for the remainder of the year. We recognise that you have many important business topics on the agenda, but as you plan your board and audit committee agendas for the remainder of 2023 we hope you find this publication useful. To help you explore topics further we provide links both to Deloitte and external source materials.

G20 meeting (lt green) Image

G20 Leaders welcome issuance of ISSB standards

12 Sep, 2023

The G20 has issued final declaration following the G20 Leaders meeting held in New Delhi on 9–10 September 2023.

FSB (Financial Stability Board) (lt green) Image

FSB calls ISSB standards culmination of TCFD work

06 Sep, 2023

Ahead of their meeting on 9-10 September 2023, a letter of the Chair of the Financial Stability Board (FSB) was submitted to G20 Leaders outlining the work the FSB is undertaking on enhancing the resilience of the financial system to structural change.

ISSB event (blue) Image

Key takeaways from the ISSB conference on integrated thinking and reporting

23 Aug, 2023

On 12 June 2023, the ISSB hosted an event ‘IFRS Integrated Thinking & Reporting Conference’ that brought together industry leaders, standard setters, and academics to share insights and best practices in integrated thinking and reporting.

FCA Image

FCA confirms its approach to implementing UK-endorsed ISSB standards into its disclosure rules and highlights what listed companies can do now to prepare for any future reporting under those standards

14 Aug, 2023

The Financial Conduct Authority (FCA) has published Primary Market Bulletin 45 (the Bulletin) which sets out its approach to implementing UK-endorsed IFRS S1 and IFRS S2 into its disclosure rules, highlights what listed companies can do now to prepare for any future obligations relating to reporting on the International Sustainability Standards Board’s (ISSB’s) standards and explains how it will continue to supervise listed companies’ existing Task Force on Climate-related Financial Disclosures (TCFD).

European Union Image

European Commission adopts final delegated regulation with regard to ESRS

31 Jul, 2023

The European Commission has adopted the final delegated regulation supplementing the European Accounting Directive as regards sustainability reporting standards.

FRC Image

FRC Lab publishes report on ESG data use and distribution

27 Jul, 2023

The Financial Reporting Council (FRC) Lab has published a new report on Environmental, Social and Governance (ESG) date use and distribution.

Corporate reporting insights - climate transition plan disclosures Image

Corporate Reporting Insights: Climate Transition Plan Disclosures

27 Jul, 2023

Corporate Reporting Insights (CRI) helps boards navigate new disclosure requirements, emerging practices, and growing expectations for greater transparency and accountability.

Public Sector Accounting Image

HM Treasury publishes TCFD-aligned disclosure application guidance

26 Jul, 2023

HM Treasury has published guidance on applying the Task Force on Climate-related Financial Disclosure (TCFD) recommendations in central government and, where appropriate, the wider public sector. The guidance applies to reporting periods from 2023-24.

FRC Image

FRC publishes thematic review findings on climate-related metrics and targets disclosures

26 Jul, 2023

The Financial Reporting Council (FRC) has published a thematic review assessing the quality and maturity of climate-related metrics and targets disclosures.

IOSCO (International Organization of Securities Commissions) (dark gray) Image

IOSCO endorses ISSB standards

25 Jul, 2023

The International Organization of Securities Commissions (IOSCO) has announced that, in a major step towards consistent, comparable and reliable sustainability information, it has decided to endorse the sustainability-related financial disclosures standards, issued in June 2023 by the International Sustainability Standards Board (ISSB).

Need to know — Areas of Focus for Corporate Reporting (July 2023) Image

Need to know — Areas of Focus for Corporate Reporting (July 2023)

24 Jul, 2023

This Need to know sets out financial reporting issues that may be relevant in view of the current economic and geopolitical environment and also highlights areas of regulatory focus and recent changes in accounting standards. The topics contained within this publication will be relevant to all companies preparing annual reports and accounts, including June 2023 half-yearly reporters. This Need to know should be read in conjunction with Closing Out 2022 which contains additional topics for UK entities to consider including areas of regulatory focus and reporting expectations highlighted by the Financial Reporting Council (FRC) in its latest Annual Review of Corporate Reporting and its most recent thematic reviews.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.