The strategy and governance indicators of the PRI’s climate risk indicators are to become mandatory for signatories to report on from 2020. Supporting the adoption of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) is a high priority for the PRI as they provide a global framework for translating information about climate
The International Integrated Reporting Council (IIRC) beginning the process of refreshing the International <IR> Framework, and calling for market feedback on specific themes that will inform the nature and direction of the revision. Coinciding with the IIRC’s tenth anniversary in 2020, the revision will respond to an evolving market context and further embed integrated reporting and
As part of its Sustainable Finance Action Plan, the Commission launched a targeted consultation with the objective to finalise new guidelines for company reporting on climate-related information. This consultation proposes ways to assess how climate change can impact the financial performance of companies, as well as how companies can have positive and negative impacts on the
The Alliance for Corporate Transparency, a collaborative initiative launched by Frank Bold, analysed the information that companies disclosed on their environmental and societal risks and impacts following the requirements introduced by the EU Non-Financial Reporting Directive. The research arrives at the same time that the EU Commission initiates the process to reform the law and after
COVID-19 is causing a shock to the global economy that could prove sharp and large but should be temporary. Uncertainty about the immediate outlook for many companies has increased sharply. This has consequences for companies proposing to report results in the coming months, and for their auditors. The Financial Reporting Council (FRC) has previously published guidance
Recently, the Project Task Force of Climate-related Reporting of the European Lab launched its report: ‘How to improve climate-related reporting – A summary of good practices from Europe and beyond’. To mark the occasion a networking event was organised at EFRAG’s premises, with Pascal Canfin, Chair of the EP ENVI Committee, Michèle Lacroix, Chair of Project Task
The Task Force on Climate-related Financial Disclosures (TCFD) announced yesterday that it has officially reached more than 1,000 supporters globally for its recommendations, signifying a major shift among market participants in acknowledging that climate change presents a financial risk. Together, the private sector organizations that are supporters have a market capitalization of nearly $12 trillion.
Quality disclosure requirements critical to Europe’s €1 trillion sustainable investment plan Global Reporting Initiative welcomes the European Green Deal as a global game changer that other economies should follow. With ambitious legislative changes backed by €1 trillion investment over the next decade, the EU is signalling leadership in efforts to advance sustainable development and tackle
A new study finds that companies are significantly increasing disclosure of their environmental and social practices, but change in underlying practices has not kept pace. Published by The Conference Board, Sustainability Practices: 2019 Edition analyzes data on sustainability disclosure across North America, Europe, and Asia-Pacific. The report shows that in the face of increasing pressure, a growing number of companies
Non-financial reporting must be in the management report to satisfy investor needs and ensure that the Directive on Non-Financial Reporting is fit for purpose to achieve Europe’s ambitious sustainable finance goals. As outlined in the EU Green Deal, the European Commission will review the Non-Financial Reporting Directive (NFRD). Last week, the European Commission started the
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