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Canada Introduces Mandatory Climate Disclosures for Banks, Insurance Companies Beginning 2024

According to the federal government’s newly released Budget 2022, Canada will require banks and insurance companies to provide disclosures on their climate-related risks and exposures – starting 2024. The budget additionally sets out over $9 billion in funding to address climate change, and plans for a new green bond offering next year. Last year, Prime

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ISSB delivers proposals that create comprehensive global baseline of sustainability disclosures

Founded at COP26, the International Sustainability Standards Board (ISSB) has launched a consultation on its initial two proposed standards to develop a full, international baseline of sustainability disclosures for capital markets. One sets out general sustainability-related disclosure requirements and the other focuses on climate-related disclosure requirements. The proposals―exposure drafts—build upon the recommendations of the Task Force on Climate-Related

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How taxes demonstrate impact and accountability

New edition of The GRI Perspective explores tax as a sustainability topic Taxation — What does the level say about how much companies contribute in operating communities and societies and why is full tax transparency momentum gathering pace, in markets around the world? The GRI Perspective: We need to talk about tax addresses these key questions, charting

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Companies to be more accountable for their social and environmental impact

The European Parliament’s Committee on Legal Affairs (JURI) has elucidated its stance regarding the Corporate Sustainability Reporting Directive (CSRD) with 22 votes in favour and one against. This means that large companies will shortly be obliged to publicly disclose detailed findings on the way they operate and manage social and environmental risks. If EU governments concur,

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IFRS Foundation and GRI to align capital market and multi-stakeholder standards

Agreement to create an interconnected approach for sustainability disclosures The International Sustainability Standards Board (ISSB) and the Global Sustainability Standards Board (GSSB), will be jointly worked on by the IFRS Foundation and Global Reporting Initiative (GRI). Both have announced a collaboration agreement under which they will seek to coordinate their work programmes and standard-setting activities. At COP26, both made

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Spanish translation of the Framework published

The updated translation of the <IR> Framework in Spanish, which was coordinated by SMS Latinoamérica has been published by the Value Reporting Foundation. In January 2021, revisions to the <IR> Framework were set out in order to give guidance and clarity to report preparers and advance high-quality adoption of integrated reporting. This much anticipated publication represents

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UN tax convention would ‘advance tax transparency’

GRI backs sustainability credentials of proposed Convention on Tax Published this month by a group of civil society experts, has been strongly welcomed by GRI the  — a proposal for a UN Convention on Tax aligning the reporting requirements in GRI’s ground-breaking Tax Standard. Directed by the Global Alliance for Tax Justice and Eurodad, the

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EFRAG welcomes its new Sustainability Reporting Board

The EFRAG General Assembly has appointed the members of the EFRAG Sustainability Reporting Board and admitted GE as Friend of EFRAG – Sustainability Reporting. EFRAG is pleased to inform on the next steps to complete its governance reform to integrate the sustainability reporting pillar in EFRAG’s structure by the target date of the end of

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Accountability on coal: managing the impacts of a sector in transition

GRI launches new standard to address sustainability challenges facing coal companies 30% of global carbon emissions come from coal companies — How can a sector be held to account for its impacts, including ensuring that they meet growing stakeholder demands for transparency in how they align with the low-carbon transition? GRI is developing new standards

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Credibility through accountability: setting the standard

‘Greenwashing’ concerns can’t be addressed without effective reporting standards When it comes to how sustainable business practices are measured and accomplished, one needs to ask what exactly is the role of the various ESG standards, frameworks, ratings and rankers? The GRI Perspective sets out – ESG standards, frameworks and everything in between each have their own essential