CDSB is pleased to announce the release of its Biodiversity application guidance, which is now open for consultation.
It is becoming overwhelmingly understood that biodiversity is playing a key role in the underpinning the human life support. As a result, threats to biodiversity have the potential to create significant and long lasting impacts for business.
CDSB’s recently published research on European reporting practices highlights a definitive gap in the integration of biodiversity matters into mainstream reports, including fewer than half of Europe’s largest companies referencing the topic in their reports. Consultation with stakeholders and experts additionally shows us that it is not only consolidation that is required, but an evolution of reporting for biodiversity matters.
The CDSB Framework application guidance for biodiversity-related disclosures (the Biodiversity Guidance) has been written by the CDSB to assist companies in the disclosure of material biodiversity-related information in the mainstream report. The thinking behind is to supplement the CDSB Framework for reporting environmental and climate change information to investors.
The Biodiversity Guidance is centred around the first six reporting requirements of the CDSB Framework:
- Management’s environmental policies, strategies and targets
- Risks and opportunities
- Sources of environmental impact
- Performance and comparative analysis
The first six reporting requirements lay out the principal content elements for reporting material environmental information in the mainstream report. For each of the reporting requirements, the Biodiversity Guidance details:
- A checklist including suggestions for effective biodiversity-related disclosures;
- Detailed reporting suggestions and guidance in relation to biodiversity-related issues to complement the CDSB reporting requirements;
- A selection of external resources to assist companies in developing their mainstream biodiversity reporting and;
Moreover, the Biodiversity Guidance gives an overview of the significance of biodiversity to businesses, depicting the importance of biodiversity-related risks, and highlighting the vital characteristics of biodiversity and their significance for reporting on corporate matters.