FRC updates 2021 Statement of Intent on ESG

Since the first Statement of Intent on Environmental, Social and Governance (ESG) published by the Financial Reporting Council (FRC) in 2021, it has undertaken a significant number of initiatives both in the UK and internationally. Targeted primarily to support its wide range of stakeholders and drive best practice in high-quality and comparable ESG reporting and


UNEP and S&P Global Sustainable1 launch new nature risk profile methodology

Nature Risk Profiling, a new methodology for analyzing companies’ impacts and dependencies on nature has been launched by the UN Environment Programme (UNEP) and S&P Global, targeted to support the implementation of TNFD’s disclosure framework. More than 50% of the world’s GDP is highly dependent on nature, resulting in biodiversity loss causing huge concerns for global

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ISSB announces guidance and reliefs to support Scope 3 GHG emission disclosures

A series of guidance and reliefs to support those applying the requirement within its Climate-related Disclosures Standard (S2) to disclose Scope 3 GHG emissions when material for a company have been set out by The International Sustainability Standards Board (ISSB). Designed to help companies embed and improve their processes for measurement and disclosure of Scope


EFAA Publishes Guidance for SMPs on Sustainability Reporting

The EFAA for SMEs is determined to assist SMPs play a key role in succeeding in the sustainable transition of the European economy. Consequently, the EFAA has made the following guidance available. Download the guide (pdf) This guide offers recommendations for SMPs to be better equipped in respond to the rapid emergence of sustainability reporting. The


Get ready for enhanced sustainability reporting with GRI

Revised Universal Standards come into effect from 1 January  Sustainability reporting standards set the highest level of transparency for impacts on the economy, environment and people. On the 1st January, 2023, the Universal Standards 2021 become effective – moving to full adoption stage — meaning all GRI reporters will be required to use these key standards for


IPSASB confirms its role in advancing public sector sustainability reporting

The International Public Sector Accounting Standards Board (IPSASB) has taken the next step in advancing public sector sustainability reporting once resources required to begin guidance development have been secured. The aim is to build on strong stakeholder support. Reporting on climate change is one of the most fundamental issues in sustainability reporting, which also encompasses


More transparency and more investment in cleaner and cheaper energy

The Albanese Government will deliver reforms to ensure Australia can grasp the economic opportunities from more investment in cleaner, cheaper and more reliable energy, and manage the financial risks that climate change presents. The Government has published a consultation paper studying the development of an Australian climate risk disclosure framework denoting both businesses and investors


Top miners adopt ESG and transparency reporting framework

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


Global standard for biodiversity impacts one step closer

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


European Regulators Delay Review of SFDR Financial Product Disclosure Rules

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