To report on a total of thirty-four mine sites across nineteen countries, Mining Shared Value, a non-profit initiative of Engineers Without Borders Canada has announced that twelve mining companies have now adopted the Mining Local Procurement Reporting Mechanism (LPRM). In 2019, Ivanhoe Mines became the first company to implement the LPRM, others include Freeport-McMoRan, New Gold, and
Consultation begins on ‘major update’ to GRI Biodiversity Standard Informing a global response to a deepening biodiversity crisis has been released by GRI. It depicts a proposed reporting standard that seeks to unlock accountability for the impacts companies have on the environment. Feedback is sought so the final standard delivers the global best practice for
The European Supervisory Authorities (ESAs), Europe’s three primary financial regulatory agencies, have delayed the review of prominent regulations for financial products under the Sustainable Finance Disclosure Regulation (SFDR). The European Commission’s original date was April 28, 2023, but will be now 6 months later. The ESAs, which include The European Banking Authority (EBA), The European
The Council gave its final approval to the corporate sustainability reporting directive (CSRD). Companies will soon be required to publish detailed information on sustainability matters, thus, increasing a company’s accountability, prevent differing sustainability standards, and facilitate the switch to a sustainable economy. The new rules will make more businesses accountable for their impact on society and will
The Federal Council has adopted the implementing ordinance on climate disclosures for large Swiss companies which will come into force as of 1 January 2024. Openness and clarity from large companies’ activities on their climate impact is fundamental for markets to function well and for climate sustainability in the financial sector. As of today, Switzerland
Launch of a new service to help asset managers and other financial institutions comply with Task Force for Climate-Related Financial Disclosures (TCFD) requirements has been announced by the Intercontinental Exchange, Inc. (NYSE: ICE), a leading global provider of data, technology and market infrastructure. Many leading regulatory bodies throughout North America, Europe and Asia have adopted
The final version of the European Sustainability Reporting Standards (ESRS) has been approved by The European Financial Reporting Advisory Group (EFRAG). The report sets out the rules for companies to report on regarding sustainability-related impacts, opportunities and risks as part of the EU’s upcoming Corporate Sustainable Reporting Directive (CSRD). The approval represents another crucial step
96% of S&P 500® Companies and 81% of Russell 1000® Companies Published ESG Reports; SASB Became Most Used Reporting Standard The findings of Governance & Accountability Institute, a leading consulting firm on corporate sustainability and ESG, have announced their 2022 Sustainability Reporting in Focus research on companies in the S&P 500® Index and the Russell
All large companies in the EU will need to disclose data on the impact of their activities on people and the planet and any sustainability risks they are exposed to. With 525 votes in favour out of 613, the Corporate Sustainability Reporting Directive (CSRD) adoption will make businesses more publicly accountable. This will force companies
The launch of the new framework for companies to disclose their climate transition plans has been announced by the UK’s Transition Plan Taskforce (TPT). According to TPT Co-Chair and Aviva Group CEO Amanda Blanc, the updated disclosure framework is designed as companies increasingly announce net zero commitments, however, many have not released their plans to
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