The European Commission’s Omnibus simplification proposal, aimed at scaling back and delaying sustainability reporting under the Corporate Sustainability Reporting Directive (CSRD), generated a heated debate on Monday night. The deep divisions revealed make it clear that consensus will be difficult to achieve.
Last week the Sustainability Standards Board of Japan (SSBJ) rolled out its first-ever sustainability disclosure standards. They closely mirror the International Sustainability Standards Board (ISSB) frameworks—IFRS S1 and S2—while adding a few jurisdiction-specific tweaks.
The European Commission’s Omnibus simplification proposal, if enacted, will change the shape of sustainability reporting across that continent, reducing the number of private companies required to comply with the European Sustainability Reporting Standards (ESRS) while streamlining the disclosures themselves.
Financially material sustainability reporting continues to gain momentum worldwide. In Doha this week, the Qatar Financial Centre Regulatory Authority convened the fifth IOSCO/IFRS capacity building workshop, bringing together regulators from across the Middle East and North Africa who will be shaping and supervising sustainability disclosures in the years ahead.
As anticipated, the Securities and Exchange Commission (SEC) took steps to pause its climate disclosure rule, originally adopted in March 2024.
Recent guidance published by the IFRS Foundation seeks to help companies navigating climate-first reporting under the International Sustainability Standards Board (ISSB) Standards.
Big changes are on the horizon for corporate sustainability reporting in Europe with the Omnibus Simplification Package, set to be unveiled on 26 February. To be informed by the EU’s broader Competitiveness Compass, the omnibus aims to streamline regulatory requirements, particularly for small and medium-sized enterprises (SMEs).
The Financial Stability Board (FSB) has released a new analytical framework and toolkit for assessing climate-related vulnerabilities in the financial system. As climate shocks become more frequent, concerns are growing over their potential to destabilise financial institutions and disrupt financial services.
The UK Financial Reporting Council (FRC) has reviewed the first round of mandatory Climate-related Financial Disclosures (CFD) from AIM-listed and large private companies, finding significant variation in quality. While companies have made efforts to comply, many disclosures lacked clarity, consistency, and depth.
The Amman Stock Exchange (ASE) has introduced its Climate-related Disclosures Regulatory Framework, requiring companies listed on the ASE20 index to comply with IFRS S1 and IFRS S2 for climate-related disclosures starting 1 January 2027.
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