Recent sustainability and integrated reporting developments

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16 Feb 2017

A summary of recent developments at the CDSB, LSEG, SASB, GRI/SEBI and Deloitte.

The Climate Disclosure Standards Board (CDSB) has responded to the consultation document of the Task Force on Climate-related Financial Disclosures (TCFD) with recommendations on climate-related disclosures. The CDSB calls on the TCFD to explore how the concept of materiality should be applied to climate-related financial disclosure, to work with relevant standard-setters (including IASB & FASB) to explore how the existing mainstream model could allow for the integration of climate-related financial disclosures, to review the suggested illustrative metrics so that they incorporate more financial metrics, and to rationalise and coordinate the recommendations. More information is available through the press release on the CDSB's website as well as the response itself.

The London Stock Exchange Group (LSEG) has issued guidance setting out recommendations for good practice in environmental, social and governance reporting (ESG). The guidance, has been developed in response to investor demand for a more consistent approach to ESG reporting and builds upon the TCFD recommendations. Please click for a press release and the guidance on LSEG website.

The Sustainability Accounting Standards Board (SASB) has published a Conceptual Framework and Rules of Procedure that move the organisation to a two-tier governance structure that separates fiduciary duty from standards-setting activities. The documents as well as further information on additional consultation are available through the press release on the SASB website.

The Global Reporting Initiative (GRI) and the Bombay Stock Exchange (BSE), one of India’s leading exchange groups, have released a linkage document between the GRI Standards and the SEBI Business Responsibility Report (BRR) Framework. The document is aimed at companies that wish to use the GRI Standards to comply with SEBI’s reporting requirements mandatory for the top 500 Indian companies listed in the country’s stock exchanges. The linkage document is available through the GRI website.

Deloitte has released a new publication in it Thinking allowed series that looks at climate-related disclosures and some of the issues involved and how companies and audit committees might respond to the challenges. The publication builds on the TCFD recommendations.

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