Debate on sustainability reporting in Europe continues. On 31 December, the EU Council approved the EU Taxonomy Climate Delegated Act, part of the EU Action Plan on Sustainable Finance, enabling the regulation to take effect as of 1 January this year.
2021 has in many ways been the “year of ESG” – of environmental, social and governance issues – and has seen several crucially important developments, particularly in terms of sustainability reporting standards and requirements.
The European Commission has announced, in a letter to the European Parliament and the Council of the EU, that implementation of the second stage of the Sustainable Finance Disclosure Regulation (SFDR) will be pushed back to 1 January 2023.
The International Federation of Accountants (IFAC) has published its vision for high-quality assurance of sustainability information.
If you are interested in learning more about sustainability rules in the Asia-Pacific (APAC) region you will find a wealth of useful detail in a recent post from Intercontinental Exchange, titled ‘How Asia-Pacific regulators approach the ‘E’ of ESG.’
Those interested in the development of European sustainability reporting standards may like to get their teeth into a detailed five-month status report outlining activities and progress to-date, recently published by the European Financial Reporting Advisory Group (EFRAG).
We were very interested this week to read remarks on environmental, social and governance (ESG) reporting from Verena Ross, in her first public speech since taking office as Chair of the European Securities and Markets Authority (ESMA).
The European Financial Reporting Advisory Group (EFRAG) is creating a new sustainability reporting pillar within its governance structure, alongside its existing financial reporting pillar, and as part of this process is therefore seeking new EFRAG Member Organisations.
The International Federation of Accountants (IFAC) has recently published a report highlighting the benefits of measuring, using and reporting sustainability information for small businesses and their advisers.
The Monetary Authority of Singapore (MAS) has announced that it will pilot four interoperable digital platforms to address the financial sector’s need for good data on sustainability.
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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.
