The last few years have seen a paradigm shift in Environmental, Social, and Governance (ESG), with several new pivotal reporting frameworks. The Corporate Sustainability Reporting Directive (CSRD) is perhaps the most pressing new regulation in this space, requiring immediate attention from global corporations.
As the International Sustainability Standards Board (ISSB) gears up for the imminent implementation of ISSB Standards—IFRS S1 and IFRS S2— in January 2024, it has introduced a host of updated resources to assist companies in seamlessly applying the standards.
Action on greenwashing has been accelerating around the world to safeguard investors and market integrity in the sustainable finance realm. The International Organisation of Securities Commissions (IOSCO) recently published a paper shining a light on various initiatives in the burgeoning sustainability space.
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.
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.
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.
The European Financial Reporting Advisory Group (EFRAG) and Carbon Disclosure Project (CDP) recently announced that they will be collaborating to boost the adoption of European Sustainability Reporting Standards (ESRS), which were passed by the European Commission this July.
The Australian government has launched its Sustainable Finance Strategy, a step toward achieving net-zero emissions. This framework aims to dismantle barriers to sustainable investments, aligning with global environmental goals.
Accountancy Europe, ecoDa, and ECIIA have jointly issued a guidance document to assist boards in integrating environmental, social, and governance (ESG) factors into their business models. It comes in response to the growing demand from stakeholders, regulators, and policymakers for enhanced sustainability performance and transparency from companies.
In a “fireside chat” last week, the Securities and Exchange Commission (SEC) Chair, Gary Gensler, refrained from confirming the release date of the pending US climate disclosure rule, indicating further delays, possibly into 2024.
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