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Recent sustainability and integrated reporting developments

  • Leaf - sustainability (green) Image

09 Jun 2020

A summary of recent developments at IMF, CDSB, GRI, the ESAs, SSE, BCBS, IIRC, BMJV, ISAR, and JPX.

The International Monetary Fund (IMF) has released a report arguing that investors and equity markets have been ignoring the growing risk of financial losses associated with the continued rise in global temperatures, and suggesting that climate risk should be made a part of international reporting standards. Please click to access the report on the IMF website.

The Climate Disclosure Standards Board (CDSB) has released a report Falling short? analysing the 2019 environmental and climate-related disclosures of Europe’s top 50 largest listed companies. While the findings show some improvement in company disclosure compared to 2018, current reporting practices often still fail to provide investors with a clear understanding of a company’s development, performance, position and impact. Please click to access the report on the CDSB website.

The CDSB has also released a "TCFD to-do list" with nine steps to ensure that issuers are making effective TCFD aligned disclosures. The list can be accessed on the CDSB website.

The Global Reporting Initiative (GRI) has released a new standard, GRI 306: Waste 2020, which updates previous GRI disclosures on waste, requires organisations to report on waste generated throughout the value chain, and release detailed information on its composition and how it is managed. The new standard is available free of charge on the GRI website.

The GRI has also issued new document, Linking the SDGs and the GRI Standards, that covers the 17 SDGs and maps them against the standards and disclosures that apply for each. Please click to access the document on the GRI website.

In addition, the GRI has published a new report, Using Corporate Reporting to Strengthen Sustainable Development Goals, with five key recommendations for how governments and other policy actors can use corporate reporting to strengthen SDGs progress at the national level. Please click to access the report on the GRI website.

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) will organise a public hearing on proposed ESG disclosure standards for financial market participants, advisers and products. More information is available on the ESMA website.

The United Nations Sustainable Stock Exchanges (SSE) initiative has launched a database of all guidance documents provided by stock exchanges for listed companies so that other stock exchanges can learn from their peers. Please click to access the database on the SSE website.

The Basel Committee on Banking Supervision (BCBS) has published a stocktake report on its members' existing regulatory and supervisory initiatives on climate-related financial risks. The report can be accesses on the BCBS website.

The International Integrated Reporting Council (IIRC) has published its 2019 Integrated Report Building Consensus Towards a Global System. The report can be accessed on the IIRC website.

The German Federal Ministry of Justice and Consumer Protection (BMJV) has appointed the Accounting Standards Committee of Germany (ASCG) with an extensive investigation of non-financial reporting. The investigation is meant to contribute to the further development of non-financial reporting at European level. Click for more information on the ASCG website.

The United Nations Conference on Trade and Development (UNCTAD) Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) is offering a webinar "Assurance on sustainability reports: current practices and challenges" on 16 June 2020. More information is available on the UNCTAD website.

The Japan Exchange Group (JPX) has announced the publication of a new handbook to support listed companies who are choosing to work on ESG disclosure. The handbook is also available in the English language and can be accessed on the JPX website.

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