The Group of Seven (G7) Finance Ministers and Central Bank Governors have issued a communiqué calling for the introduction of mandatory climate-related disclosures and endorsing international initiatives, among other concrete actions to address today’s historic challenges.
A recent post from the International Monetary Fund (IMF), on ‘How strengthening standards for data and disclosure can make for a greener future,’ lends its support to harmonised and consistent climate disclosures.
Commissioner Allison Herren Lee of the US Securities and Exchange Commission (SEC) recently spoke on ‘Living in a Material World: Myths and Misconceptions about “Materiality.”’ She addressed, among other topics, the important role of the investor in determining what is ‘material’ to disclosure, particularly around environmental, social and governance (ESG) topics.
The China Securities Regulatory Commission (CSRC) is consulting on revised disclosure rules for publicly listed companies, including new environmental, social and governance (ESG) requirements.
The Sustainability Accounting Standards Board (SASB) has some interesting food for thought available on environmental, social and governance (ESG) disclosures, as it discusses the five practices most valued by investors.
On 20 May 2021 US President Joe Biden signed a sweeping Executive Order on Climate-Related Financial Risk. It mandates greater disclosures to provide the information needed to understand climate risks and enable action to mitigate them.
What are the current gaps where more data is needed for good regulatory decisions? That’s the question explored by Commissioner Caroline A. Crenshaw of the US Securities and Exchange Commission (SEC) in an excellent keynote address to the 8th Annual Conference on Financial Market Regulation, titled ‘Mind the (Data) Gaps.’
“Corporations are at an inflection point when it comes to ESG,” says Wes Bricker, Vice Chair – US and Mexico Assurance Leader at PwC and Chair of XBRL International’s Board of Directors, in a short guest post at ESG Today that nonetheless offers plenty to think about.
We’re pleased to note that XBRL implementation in Jordan is having success, following its introduction last year.
In remarks to the Institute of International Finance on 21 April, US Secretary of the Treasury Janet Yellen laid out the Treasury’s ‘whole-of-government’ approach to climate change, and emphasised the importance of disclosure.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
