The US Federal Accounting Standards Advisory Board (FASAB) has unveiled its three-year plan, providing a comprehensive roadmap for upcoming initiatives. Detailed in the annual report, FASAB outlines significant accomplishments, exposure drafts, and future directions.
This week has seen a huge amount of activity in the sustainability sphere at COP28, including from the International Sustainability Standards Board (ISSB). In a Declaration of Support, nearly 400 organisations from 64 jurisdictions affirmed their commitment to advancing the adoption or use of the ISSB’s Climate Standard as the climate global baseline.
The UK’s Financial Conduct Authority (FCA) has announced a package of sustainability disclosure requirements and investment labels, aiming to improve trust and transparency around sustainable investment products and facilitate informed decision-making.
The New Zealand External Reporting Board (XRB) has addressed the need for coherence between climate reporting and financial statements. The newly published guidance is designed for Climate Reporting Entities, offering insights into how New Zealand’s accounting standards apply to climate-related matters in financial statements.
In line with overall trends towards environmental transparency, a recent survey conducted by Boston Consulting Group (BCG) and CO2 AI has revealed that over 50% of companies are now disclosing at least some of their Scope 3 value chain emissions. This marks a significant increase from approximately a third reported two years ago.
The UK Financial Conduct Authority (FCA) has presented insights into how Authorised Fund Managers (AFMs) are aligning with regulatory expectations in their presentation of Environmental, Social, and Governance (ESG) information. The FCA’s evaluation assesses adherence to Guiding Principles provided in a letter sent to AFMs in July 2021.
The International Sustainability Standards Board (ISSB) recently convened at its newly established office in Beijing, China. The week included a number of updates, culminating in the Beijing International Sustainability Conference on 17 November.
Perhaps unsurprisingly considering stories surrounding greenwashing, a recent survey by PwC reveals rising investor apprehension around corporate sustainability reporting. A shocking 94% of respondents expressed concerns about unsupported claims, up from 87% in the previous survey, highlighting the growing challenge of greenwashing.
In a bid to enhance the clarity of information reported under the Sustainable Finance Disclosure Regulation (SFDR), the Dutch Authority for the Financial Markets (AFM) has proposed some changes.
The Global Reporting Initiative (GRI) is set to launch the Sustainability Innovation Lab (SIL) in partnership with the IFRS Foundation. The SIL aims to enhance sustainability disclosure capabilities globally, acting as a hub for innovation, professional development, and practical solutions.
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