The Chinese Ministry of Finance (MOF), in collaboration with multiple ministries and institutions, has released the ‘Sustainability Disclosure Standards for Business Enterprises – Basic Standard (Trial)’.
Our review of 2024: three major sustainability taxonomies, AI’s move to centre stage, and why the big endeavours ahead make structured data essential.
“Unless the data is comparable, unless the data can be used easily, unless the data can be analysed, it’s no use having all this [sustainability reporting],” says CA (Dr) Debashis Mitra, Past President of the Institute of Chartered Accountants of India (ICAI).
Issuers in South Africa can now use the IFRS Sustainability Disclosure Taxonomy (also called the ISSB taxonomy) to report sustainability data digitally.
The Government of Canada has continued its multi-year push toward ESG reporting by announcing mandatory climate-related financial disclosures for large, federally incorporated private companies.
As carbon pricing schemes expand, their growing presence is poised to reshape financial reporting, with dwindling free carbon allowances set to bring these programmes into sharper focus on company balance sheets.
This week the International Sustainability Standards Board (ISSB) announced plans for harmonising the sustainability disclosure landscape during the IFRS Foundation Conference at London Climate Action Week.
Earlier this month the European Supervisory Authorities (EBA, EIOPA, and ESMA – collectively ESAs) published a joint Opinion on improving the Sustainable Finance Disclosure Regulation (SFDR).
The Taskforce on Nature-related Financial Disclosures (TNFD) and the European Financial Reporting Advisory Group (EFRAG) recently released a correspondence mapping of the European Sustainability Reporting Standards (ESRS) and TNFD’s recommended disclosures.
The Global Reporting Initiative (GRI) recently launched a public consultation for its new GRI Sustainability Taxonomy draft, open until 11 August. To delve deeper into this initiative, XBRL International recently spoke to Piers Horner, who led the development of the taxonomy:
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