The Sustainability Accounting Standards Board’s (SASB’s) standards have long helped facilitate the analysis of comparable, consistent, and reliable sustainability data by providing a common language for disclosing sustainability information. Until now, the standards have lacked an accompanying taxonomy.
Following growing support for global non-financial standards, the International Financial Reporting Standards (IFRS) Foundation has published a consultation paper to formally assess the demand for sustainability standards, and gauge support for the Foundation’s role in developing them.
Long-time readers of this newsletter will know that one of the major issues holding sustainability reporting back has been the excessive proliferation of confusing and sometimes overlapping disclosure frameworks.
Climate change poses complex risks for financial systems that regulators don’t yet fully understand. In order to properly assess how physical risks and transition risks will interact with each other and other economic vulnerabilities, we need good quality, standardised non-financial data.
Joining regulators around the world who are increasingly concerned about the impact of climate change on financial institutions, the Hong Kong Money Authority (HKMA) recently set out a supervisory approach designed to ensure banks build resilience to climate-related risk.
Having established a task force, the European Financial Reporting Advisory Group (EFRAG) is poised to proceed with the development of non-financial reporting standards, which, if implemented, would increase comparability, relevance and reliability of non-financial information.
The Sustainability Accounting Standards Board (SASB) is seeking feedback on recently published updates to its primary governance documents.
The Securities and Exchange Board of India (SEBI) is conducting a consultation into widening their environmental, social, and governance (ESG) disclosures with a new mandatory report.
Europe are seeking expert input as they take the next step in the all-important process of building data standards for non-financial reporting.
The International Federation of Accountants (IFAC) has called on G20 leaders to strengthen commitments to transparent non-financial reporting in their long-term recovery from Covid-19.
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