Climate Disclosure Standards Board (CDSB) released the CDSB Framework application guidance for climate-related disclosure (Climate Guidance). The release is the first in a series of guides on nature-related financial disclosure, with Water Guidance to follow early next year.
Published today, the Climate Guidance is designed to provide additional “how to”assistance to companies to disclose material climate-related information in mainstream corporate reports. The guidance complements the CDSB Framework for reporting environmental and climate change information (CDSB Framework), and aligns with other global standards, recommendations and metrics, such as the Recommendations of the Task Force on Climate-Related Disclosures (TCFD), Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), CDP, and others.
The Climate Guidance, the first one in a series of supplementary guides planned for the users of the CDSB Framework, seeks to address the gap in reporting quality by providing up-to-date guidance focused on the disclosure of material non-financial information in the mainstream report.
David Astley, the lead author of the guidance, noted that “The hands-on Climate Guidance featuresexamples of good practice, checklists, links to further relevant resources, and answers the ‘how to’and ‘what does it look like’ questions that CDSB hears from the market.”
“Companies are still falling short of adequately reporting environmental and climate-related information. Investor demand for consistent, comparable and reliable information on ESG matters is growing rapidly, and despite this widespread support, climate-related disclosure is not where it needs to be to move money in the right direction. TCFD has released a set of recommendations, this guidance CDSB is launching today can play an important role shifting support for TCFD to action.,”says Mardi McBrien, Managing Director of CDSB.
The Climate Guidance will be formally launched at an online launch event on 29th July.