Recent sustainability and integrated reporting developments

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11 Jul, 2018

A summary of recent developments at the CDSB, CDSB/WBCSD, IIRC, GRI, and CDP.

In the past few months, the Climate Disclosure Standards Board (CDSB) held various workshops on the Task Force on Climate-related Financial Disclosures (TCFD) recommendations to provide guidance on the topic and gather feedback on the challenges and solutions that organisations are adopting on this journey.Several entries on the CDSB website reflect the input gathered:

The CDSB, jointly with the World Business Council for Sustainable Development (WBCSD),has also released new data from the Reporting Exchange analysing differences in environmental, social and governance (ESG) reporting between sectors, market maturity levels and national contexts. The report underscores that while sustainability reporting is moving in the right direction, the pace of change needs to accelerate to ensure a prosperous and sustainable future. Please click to access the report on the CDSB website.

Participants of the <IR> Technology Initiative of the International Integrated Reporting Council (IIRC) have published a technology primer, identifying steps that Chief Information Officer’s can take to build an information architecture that supports integrated reporting. Please click to access the primer on the IIRC website.

The IIRC has also launched the ‘Integrated Thinking & Strategy’ special interest group, which offers organisations the opportunity to share thinking about developing strategy across multiple capitals, learn from each other and co-create a common world view of integrated thinking that is globally relevant to help build resilient, future-fit businesses. Please click for more information on the IIRC website.

The Global Reporting Initiative (GRI) announces that as off 1 July 2018 the transition from GRI’s G4 guidelines to the Sustainability Reporting Standards (GRI Standards) is complete. The standards feature a modular, interrelated structure, and represent the global best practice for reporting on a range of economic, environmental and social impacts. This makes them easier to update, so that they keep pace with developments in the different fields. Please click for more information on the GRI website.

The GRI has also released two updated standards:

  • GRI 403: Occupational Health and Safety 2018 – Putting worker health first
  • GRI 303: Water and Effluents 2018 – From water management to water stewardship

More information on the updated standards and access to additional resources is available on the GRI website.

The Carbon Disclosure Project (CDP) has published Reporting climate resilience: The challenges ahead. The top three challenges for companies in adopting the TCFD recommendations are identified as (1) ensuring leadership support for enhanced disclosure, (2) revising risk assessment processes, and (3) applying scenario analysis to climate change. Please click to access the report.

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